Comments for Looking Out Across The Horizon http://parijatgarg.org/blog My view of the crazy crazy world... Tue, 07 Feb 2012 02:37:45 +0000 http://wordpress.org/?v=2.7.1 hourly 1 Comment on Is a crisis at hand? by Parijat http://parijatgarg.org/blog/2011/12/13/is-a-crisis-at-hand/comment-page-1/#comment-1285 Parijat Tue, 13 Dec 2011 11:10:34 +0000 http://parijatgarg.org/blog/?p=86#comment-1285 @Neha a tax roll-back on oil could help, but meanwhile the deficit will take a big whack! The Govt is addicted to oil revenues. Interestingly, it appears that the oil subsidy that OMC's (and upstream suppliers) are asked to bear and paid for with oil bonds don't show up in the deficit calculations at all. So the actual deficit is probably (almost certainly) worse than what it is made out to be. In any case, the deficit numbers are for Central expenses only and do not include state expenses. Add those and we are only slightly shy of a double digit deficit. As for paying for oil in INR, I suspect its more about whether the counter-parties will accept payments in INR than whether we would be willing to pay. We are not China and the Rupee is not the Renminbi. @Neha a tax roll-back on oil could help, but meanwhile the deficit will take a big whack! The Govt is addicted to oil revenues. Interestingly, it appears that the oil subsidy that OMC’s (and upstream suppliers) are asked to bear and paid for with oil bonds don’t show up in the deficit calculations at all. So the actual deficit is probably (almost certainly) worse than what it is made out to be. In any case, the deficit numbers are for Central expenses only and do not include state expenses. Add those and we are only slightly shy of a double digit deficit.

As for paying for oil in INR, I suspect its more about whether the counter-parties will accept payments in INR than whether we would be willing to pay. We are not China and the Rupee is not the Renminbi.

]]> Comment on Is a crisis at hand? by Neha http://parijatgarg.org/blog/2011/12/13/is-a-crisis-at-hand/comment-page-1/#comment-1284 Neha Tue, 13 Dec 2011 11:05:05 +0000 http://parijatgarg.org/blog/?p=86#comment-1284 Good one.... btw... if all the state n central govts decide... to cut all taxes on oil being sold in India temporarily,then we can bring down inflation, leading to a stronger rupee, leading to a cut in the import bill, leading to a still stronger rupee, also paying in rupee terms to countries selling oil, wud reduce demand for dollars by oil cos, further strengthening the rupee.... even if no other policy action is taken... provided they decide to let go of taxes despite the fisc... for sometime. Good one…. btw… if all the state n central govts decide… to cut all taxes on oil being sold in India temporarily,then we can bring down inflation, leading to a stronger rupee, leading to a cut in the import bill, leading to a still stronger rupee, also paying in rupee terms to countries selling oil, wud reduce demand for dollars by oil cos, further strengthening the rupee…. even if no other policy action is taken… provided they decide to let go of taxes despite the fisc… for sometime.

]]> Comment on A Historic Moment: Eurozone Integration? by Parijat http://parijatgarg.org/blog/2011/09/08/a-historic-moment-eurozone-integration/comment-page-1/#comment-1276 Parijat Thu, 08 Sep 2011 17:40:28 +0000 http://parijatgarg.org/blog/?p=74#comment-1276 Great point Manas! I completely missed that stage. I'd say it's a little hard to compare the EU with any "empire" in the Roman Empire sense. I'd think of an empire as an aggregate of a several population centers (often quite distance from each other and which could initially be very diverse in their culture) which are ruled by a single entity - the king or other suitable ruling body as in the case of Rome. In this case, it'd appear that political consolidation would facilitate social and economic interchange, rather than the other way around. By bringing multiple centers under a unified rule (and almost surely a unified currency), trade and interaction between these centers would be facilitated leading to increasing homogeneity. In other words, the intra-empire diversity would be much lower than inter-empire diversity. In that sense perhaps the Roman Empire and the EU are similar. Unfortunately, as a precedent, this does not bode well. The Roman Empire, after all, no longer exists anywhere close to its former (geographic) glory. Great point Manas! I completely missed that stage. I’d say it’s a little hard to compare the EU with any “empire” in the Roman Empire sense. I’d think of an empire as an aggregate of a several population centers (often quite distance from each other and which could initially be very diverse in their culture) which are ruled by a single entity - the king or other suitable ruling body as in the case of Rome. In this case, it’d appear that political consolidation would facilitate social and economic interchange, rather than the other way around. By bringing multiple centers under a unified rule (and almost surely a unified currency), trade and interaction between these centers would be facilitated leading to increasing homogeneity. In other words, the intra-empire diversity would be much lower than inter-empire diversity. In that sense perhaps the Roman Empire and the EU are similar. Unfortunately, as a precedent, this does not bode well. The Roman Empire, after all, no longer exists anywhere close to its former (geographic) glory.

]]> Comment on A Historic Moment: Eurozone Integration? by Manas http://parijatgarg.org/blog/2011/09/08/a-historic-moment-eurozone-integration/comment-page-1/#comment-1275 Manas Thu, 08 Sep 2011 16:34:37 +0000 http://parijatgarg.org/blog/?p=74#comment-1275 Well, cities didn't turn into city-states and then nations; weren't there empires? How would you relate EU to the Roman Empire? Well, cities didn’t turn into city-states and then nations; weren’t there empires? How would you relate EU to the Roman Empire?

]]> Comment on Technological Unemployment by Appu http://parijatgarg.org/blog/2011/05/20/technological-unemployment/comment-page-1/#comment-1268 Appu Fri, 20 May 2011 08:30:16 +0000 http://parijatgarg.org/blog/?p=67#comment-1268 One rather delightful articulation of this was the movie Desk Set ( www.imdb.com/title/tt0050307/ ). Considering the movie was made in 1957, I was quite surprised, how accurate the movie turned out to be. One rather delightful articulation of this was the movie Desk Set ( http://www.imdb.com/title/tt0050307/ ). Considering the movie was made in 1957, I was quite surprised, how accurate the movie turned out to be.

]]> Comment on Hypocrisy by Nishit http://parijatgarg.org/blog/2010/06/30/hypocrisy/comment-page-1/#comment-1259 Nishit Sun, 25 Jul 2010 09:10:40 +0000 http://parijatgarg.org/blog/?p=56#comment-1259 Absolutely Right !!! Absolutely Right !!!

]]> Comment on My own wordpress blog by Parijat http://parijatgarg.org/blog/2009/03/23/my-own-wordpress-blog/comment-page-1/#comment-9 Parijat Tue, 24 Mar 2009 10:42:05 +0000 http://parijatgarg.org/blog/?p=3#comment-9 I don't think it has an interface for typing in hindi like blogger does... but if you have already typed it out somewhere, I'm sure you can paste it here. Still need to try that though. I don’t think it has an interface for typing in hindi like blogger does… but if you have already typed it out somewhere, I’m sure you can paste it here. Still need to try that though.

]]> Comment on My own wordpress blog by KJ http://parijatgarg.org/blog/2009/03/23/my-own-wordpress-blog/comment-page-1/#comment-8 KJ Tue, 24 Mar 2009 10:41:07 +0000 http://parijatgarg.org/blog/?p=3#comment-8 Does it support Devnagari fonts? Does it support Devnagari fonts?

]]> Comment on My own wordpress blog by harsh http://parijatgarg.org/blog/2009/03/23/my-own-wordpress-blog/comment-page-1/#comment-4 harsh Mon, 23 Mar 2009 13:48:23 +0000 http://parijatgarg.org/blog/?p=3#comment-4 we write 2 blogs on wordpres.. www.rajasthantour4u.com/blog n www.gajeebo.com/blog .. have done small customizations.. if u need help u can ping us!! we write 2 blogs on wordpres.. http://www.rajasthantour4u.com/blog n http://www.gajeebo.com/blog .. have done small customizations.. if u need help u can ping us!!

]]> Comment on My own wordpress blog by Parijat http://parijatgarg.org/blog/2009/03/23/my-own-wordpress-blog/comment-page-1/#comment-3 Parijat Mon, 23 Mar 2009 11:53:26 +0000 http://parijatgarg.org/blog/?p=3#comment-3 Thanks Harsh! I am really excited about this :) Thanks Harsh! I am really excited about this :)

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