ArpitGarg's Weblog

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Posts Tagged ‘analogy

Indian Economy Strong: Funda-mentally

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Last few days have witnessed regular assurances from finance ministry, RBI governor, CEO of leading Indian banks as to how India would weather the global financial storm. All the assurances had one thing in common, “The fundamentals of our economy are very strong”. What these financial fundamentals really are? How to understand them? Well, I have one approach ready for you. As they say “Cinema reflects the Society”, let’s start our search for the economic fundamentals via the fundamentals of Indian cinema.

“Thakur, jaan pyaari hai toh Tijori ki chabiyaan nikaal”. Who doesn’t remember this legendary line? Immortalized by Thakurs ranging from Kanhaiyyalal to Madanlal and Dacoits cum Robinhoods ranging from Raj Kumar to Sunil Dutt. Another such scene is where the greedy Thakur opens his Tijori to lend money to the poor Kisaan at high interest rate. Here the most important fundamental is Tijori. Our society too cherished this personal Tijori. Down the years, the Tijori got replaced by a bank locker for quite a few. Barring the recent trends, we are not known to be ardent investors. We do save money but most of us do not invest in other than the popular LIC policies. We all have such Tijori’s which keep our money safe and sound if not reap returns. Before you point out the decreasing worth owing to inflation, keep in mind that we usually keep our savings as gold, silver etc. But the Tijori persists.

“Kaam ho jaiyega Seth. Paisa mere Swiss bank account mein pahunch jaana chaiye”. This corruption and surplus black money has helped avert the mortgage crisis in India. Consider a house with market value of 1crore. Usually one pays 50lac in cash and 50lac via cheque. This ratio may vary from 40:60 to 45:55 or vice versa. The cash is what is usually called number 2 ka paisa. For the rest 50lac, we apply for a loan. Even if the property rates fall to say 80lac (from 1cr initially), unlike Americans we don’t forego our property to the bank. After all the current market rate is still greater than the loan due. So the black money in property business has not let mortgage crises come to India in the way it has rattled US. (for more read http://www.swaminomics.org/articles/20080330.htm)

“Madam hum ICUC bank se aaye hain. Aap loan chuka dijiye warna hum bahut kameeney log hain”. This dialogue delivered with pure sincerity in the movie “One Two Three”, gives us clear insight as to the low default rate in India. The loan is distributed via agents and settled via another set of agents, while the bank sits pretty. Should the leading banks go the legal way, it would take them at least 20 years to settle. Agree or not, this so called extortion has kept the so called fundamentals of our economy sound.

“Bhaisahab yeh Mangal-Sutra girvi rakh leejiye”. Nirupa Roy in need of money for the treatment of her sick son. Here mangalsutra is the key. Most of the Indian families have household jewellery. Ask your mother for confirmation. Regardless of the bank balance, there have to be sufficient diamond/gold/silver ornaments to be worn at various ceremonies. This domestic wealth is the one which has helped many a family sail through the dark times.

Bigg Boss: The Truman Show

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For those who have watched Jim Carrey’s, “The Truman Show”, the Bigg Boss house too symbolizes the real world. Let’s see how.

Bigg Boss: He is the God, the almighty, the supreme. Members consider the decision of Bigg Boss their fate. They pray to their God to give them more food (budget) the coming week. They ask his forgiveness for any fault of theirs. They cry in the confession room. They get angry with him at times and as his children want him to be loving and caring.

Housemates: In this world we play various roles. Similarly the house mates take over different roles. Rahul becomes the toilet cleaner. Ketaki becomes the cook. Elina becomes the maid. Raja becomes the king. These roles are not allotted but are assumed.

Tasks: We all work to earn money, to get food. In the house too members perform a particular task to earn food for the coming week. If they fail, they don’t get paid that well and have to live with limited resources. This creates friction. ‘Coz scarcity of resources is the root cause of discontent and disruption. The work may not be what they wish to do. Still need to do it for living anyway.

Nominations: In real world we have friends and foes. We wish well for some and not so well for others. The nomination brings out the dark side. They want a person not be a part of their life anymore. They want the person they don’t like to leave the world. Simply they wish him to die. They pray to the God (Bigg Boss) to take their enemies away. They conspire to get rid of them.

Eliminations: The soul leaves the house. Bigg Boss decides to take a member away. A member goes out and only his memories remain. He is dead. The recurring elimination symbolizes that nothing is imperishable. Everyone has to die. Nature has to take its own course. The life continues.

Written by arpitgarg

September 23, 2008 at 2:09 pm

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