Sunday, November 16, 2014

Hidden Wealth

    I happened to read a story during my school days. Don’t remember which grade it was, and doesn’t matter anyways! In short, the story was about an Indonesian man and his lazy son-in-law.
The story ran thus-

    A wise old Indonesian man had a lazy son-in-law. The son-in-law wanted quick money and was too lazy to cultivate a piece of land, he owned. Once the father in law told him that an Astrologer has predicted that the land his son-in-law possessed, had hidden gold underneath it. Excited about the idea of getting rich, the son-in-law and his wife dug out the land and found nothing. Since the land was already dug, the father-in-law advised them to plant bananas so that at least their effort doesn’t go in vain. They agreed and by end of the year made some money by selling bananas. Not to be content, the son-in-law decided to dig out the land thoroughly the next year, again with the same result. This year they got a better yield and more money. The third year, again with advice from the father in law, the couple bought nearby land and tried to find the ‘gold’. Years passed by and the couple never really found the gold. But meanwhile, their plantation had prospered and they were able to earn enough money and respect.

    Ignoring the factuality of the story, it does convey a message. For us,  kids then, the message was about the importance of hard work and how not to run after quick wealth and all. At least that’s how I answered in the ‘Reference to context’ section!  However, I now realize, it does convey an important subtle message. In fact that’s the reason I remembered this story after all these years.

    People like sensation! Be it national news or daily gossip in offices or social circles. I was tempted to use ‘We Indians’ instead of ‘People’. But then realized that it is a global phenomenon. Besides I want to desist from the tendency of ‘special treatment’ for Indians –good or bad, when we see those traits amongst many other people. Coming back to sensationalism, the higher the ‘object’ in social/economic ladder, the more sensation the related news creates. In fact a good amount of media Industry survives on this very ‘basic instinct’ of people. Besides, we often have a ‘socialist’ trait buried within us. So, if the object happens to be a businessman, politician or any celebrity, the feelings are extreme, often more on the negative side. The ‘Black Money’ thriller has all the ingredients of a blockbuster! Rich businessmen, corrupt politicians stashing their ‘ill gotten’ wealth in ‘foreign’ banks and depriving the country of the economic prosperity and power that it demands! Add to that the statistics of ‘lakhs’ that poor people would get if the money is brought back! What better can it get! No wonder, the movie is running successfully across the country, from parliament to courts to 24X7 channels and coffee hubs.

     Overlooking the facts and the complications, the ‘story’ is portrayed in a very simple manner, which derides truth.  Even by the PM’s own admission, nobody knows the exact amount of money. Not all the money in foreign banks will be ‘black’ (earned by unlawful means). It would at best be a case of tax evasion. So a certain percentage of the same belongs to the state. Also, the ‘accused’ are not stupid enough to keep the money stashed when there’s so much happening! Honestly, I believe this is a story of ‘Emperor’s new clothes’! The emperor here being the people!

    Anyways, this piece is not to judge the euphoria and the potential benefits of the black money, if and ever it is brought back .Let the court issue strictures, government make attempts, people (depending on which side you are!) criticize the inaction or justify the action. Also, opposition parties have every right to take government to task in a political way. After all, aren’t they supposed to do it? The BJP would have done the same if they were in opposition. In fact black money was an important poll agenda and hence the opposition has every right to question the government.

    As they say, Life is what happens when you are busy making plans! In this euphoria for getting back the black money, we should not lose sight of those subtle changes taking place around us, which I believe would have more direct and tangible benefits.  There are a lot of initiatives that the government has taken and quite a few that it has carried from the previous regime , which I believe would yield more substantial benefits than the extreme figures ‘speculated’ for the black money. 

    Just a case in point – As per government’s own records, the country spends (approx.) 8000 crores on affidavits annually. Not to mention the ‘fee’ that advocates demand and the stationary charges. So, if implemented (and it is not a big deal to implement as such), we are talking of at least around 15000 crores of direct savings! This is the money that common man is saving, unlike ‘waiting’ for something to come back! The Direct deposit scheme, the foundation of which was laid by ADHAAR (well that was Congress!) and boosted by the Jan Dhan Yojna, will save thousands of crores from being swindled by the middle men.   E-governance and transparent administration being key to prevent the ‘generation’ of black money. Defense deals is another area, the government seems to be focusing. Swachh Bharat Abhiyan will also have bearing on the cost factor, since it would be expected to bring down the per capita cost of health care. Compounded with eradication of corrupt medical practices and improving of infrastructure for health care, this should help creation of a ‘healthier nation’ in coming years and help utilize the demographic dividend that we are banking upon. Not to mention the positive investment environment that is being created, the cramp down on hoarders to contain price rise etc .

    The list can be endless, and this is not a BJP manifesto! . However, the message is clear. There is a lot happening around us that has the potential to change the destiny of the nation. It is for us to decide if we want to wait for the gold or plant our bananas!


Jai Hind! .
Irrelevant here, but in case you are wondering – Jai Maharashtra !

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