Thursday, January 28, 2016

Rajya Sabha: A Case study where the ‘Indirectly’ elected subvert the ‘Directly’ elected…


The author is aggrieved by what he sees as subversion by the Rajya Sabha in stalling the legislative agenda of the Government. Although this topic will be discussed in general, what specifically got the author to pen this article is the introduction of a Bill called ‘The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Amendment) Bill, 2015’ (hereinafter referred to as the said Amendment Bill). This Bill has passed the Lower House i.e. the Lok Sabha on 10-March-2015. This Bill amends the similarly named Act of 2013. As of date the Government has shied away from introducing this Bill in the Rajya Sabha because of strident resistance from the opposition and as it does not have the requisite numbers for a majority there.

To start from the basics, the people of India have voted in the last general election in 2014 in which they have voted the BJP along with its allies, the NDA alliance, to power. The BJP itself commands a simple majority while the NDA commands an almost two thirds majority, just twenty-six seats short, in the Lok Sabha [Wikipedia contributors, 2015a]. Let us come to the election of the Rajya Sabha. The author asks who has voted for the Rajya Sabha. No common Indian citizen for a fact. The two hundred and fifty members of the Rajya Sabha are indirectly elected by the State Legislative Assemblies and Union Territories by means of proportional voting. A further twelve are just nominated directly by the President for their contributions to art, literature, science, and social services [Wikipedia contributors, 2015b].

Thursday, January 21, 2016

Do low oil prices really paint a picture of gloom?


The price of crude oil has been steadily falling. From being above $100 a barrel around July-2014, it has come down from this peak to around $28 a barrel today (18-Jan-2016) [1]… Many analysts have construed this as a bearish sign, proof of a general slowdown in the global economy. Stock markets around the world have also taken this as one of their cues to head south. Our own Sensex has crashed almost 15% in the last 6 months [2]…

Now, is this bearish outlook justified?