Indian Republic Day – “Where the Mind is Without Fear”
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Time to retrospect; during my school days, we had our daily prayers and we used to recite this poem by Tagore every day. At that time, we did not realize the real significance of this piece of Nobel winning literature. Now, after 7 years, I feel nostalgic and saddened. I understand it was not only a poem, but a thought, an attitude which our freedom fighters had and wanted the same to be inculcated in the future generations. His poems and thoughts are still alive between us, children recite them daily in schools, but why does that ideology die when we grow up? Where does the feeling of “Where the mind is without fear and the head is held high” go? Forget the world, why is India is still breaking up into fragments by narrow domestic walls? Because, we were never taught the true meaning of these lines, they were just a routine activity for us. Our class teacher used to punish us if we did not attend the daily assembly, but were we ever told, why do we need to attend the assembly in the first place?! Not really. At least not in school. (More …)
Recently I can across 
AD are discussing. 
Amazing presentation by 
Beijing most significantly counted on massive credit growth to spur the economy. The amount of new loans made in 2009 nearly doubled from the year before to $1.4 trillion – representing almost 30% of GDP. The stimulus plan worked wonders, holding up growth even as China’s exports dropped 16% in 2009.
But now China is facing the consequences of its largesse. Fears are rising that Beijing’s easy-money policies have fueled a potential property-price bubble. According to government data, average real estate prices in Chinese cities jumped 7.8% in December from a year earlier — the fastest increase in 18 months. The credit boom has also sparked worries about the nation’s banking system. Many economists expect the large surge in credit to lead to a growing number of nonperforming loans (NPLs). In a November report, UBS economist Wang Tao calculates that if 20% of all new lending in 2009 and 10% of the amount in 2010 goes bad over the next three to five years, the total amount of NPLs from China’s stimulus program would reach $400 billion, or roughly 8% of GDP.
India, meanwhile, isn’t experiencing nearly the same degree of fallout from its recession-fighting methods. The government used the same tools as every other to support growth when the financial crisis hit – cutting interest rates, offering tax breaks and increasing fiscal spending – but the scale was smaller than in China. Goldman Sachs estimates that India’s government stimulus will total $36 billion this fiscal year, or only 3% of GDP. By comparison, China’s two-year, $585 billion package is roughly twice as large, at about 6% of GDP per year. Most important, India managed to achieve its substantial growth without putting its banking sector at risk. In fact, India’s banks have remained quite conservative through the downturn, especially compared with Chinese lenders.
I think this should probably give u little hopes about india’s future…yes china has an edge in certain sectors..but u cant deny india’s strength like pharmaceuticals etc..