What lies ahead for Greece?

Greek’s Debt crisis solution beats both commonsense and economics. I feel totally perplexed with the way things are turning out in EU. Though Greece’s PM won a majority in the parliament recently for a new austerity plan and EU and IMF’s bailout plan, taking a huge amount of $110 bn, in addition to its earlier bailout of about $120 bn, makes me surprise by the basic fact that where is the source of revenue for it to return back to normalcy. Also there were very few takers to its new bond issue and the total debt is almost equal to its GDP.

The economic activity in Greece is not improving, unemployment is low, trust in its government is at its lowest levels, they need heavy spend cuts, raise taxes to garner money to repay its debt. When the sentiment in Greece is at such low levels, can the government raise taxes to increase its revenues? With such stagnant economy, government needs to improve the situation with new projects to generate more economic activity rather than announce spend cuts which can deteriorate the situation. In fact, many nations fall prey to the idea of strict austerity measures which can be counterproductive.

When politics interfere with economics, it will surely beat commonsense and the EU crisis will turn out to be a classical case. It will be very interesting to see how these measures turn out for Greece and what lies in store for the remaining nations in PIIGS.

It is not important to merely get into the best college, but to make the best of your college life

When I read the line ‘It is not important to merely get into the best college, but to make the best of your college life’ in the book Stay Hungry Stay Foolish by Rashmi Bansal, I felt very happy that she shared the same thoughts as mine. And from that day onwards, this line has become my signature in my e-mail address.

Today, I was reading the article by Chetan Bhagat who had penned similar thoughts in Hindustan Times. But this article had a different dimension to the same point, where the father, whose son scored 92% in board exams and is expecting an admission in SRCC or St Stephens, has changed his views from admitting his college into the top brands in India to making him a better individual. And this change in attitude in the father came after observing that his son was under huge pressure about the admissions and is unable to handle it.

And it was a good feeling to know that such a famous personality is having the view that it is important to turn into better individuals that joining top schools. Such a change in mindset bodes well for the country’s future.

Tenacity is the keyword!

I had recently attended the IIT Delhi's Golden Jubilee lecture by Steve Ballmer, Microsoft CEO. Microsoft had really tested our patience with their hour long demo of their latest technologies, until Mr Ballmer came to our respite. Oh boy! I liked his energy levels. He was in a CII session earlier that day and with a guarenteed busy life, he has very energetic at 5 PM.

The most important take away from his lecture was one word: 'tenacity'. Suddently, so many faces came to my mind ranging from Richard Branson (Founder of Virgin group) to Sanjeev Bikhchandani (naukri.com) to Deep Kalra (makemytrip.com). Each one of them had a business idea, sometimes ahead of their times, and stuck to it till success met them, and they were hugely successful. And only Mr Ballmer knows that better as he has his company create technologies and products for the future and wait for their success. Without such persistence a company like Microsoft cant bet their future. They need to invent new products and technologies, forecasting and even foreboding customer requirements. Mr Ballmer and his one word saved that evening.

Baba Ramdev's marketing strategy

Decades ago, when great leaders of our soil fought the colonial rule, fought for their motherland, fought for their rights, fought for their independence and similar issues, they just had only one thought - fight for their demands till the last breath and never cared about the sun or rain. Hardly they had a cloth tent set up to give the minimal protection. Infact they didn't have enough money to take any care of the people who supported them. It was the unprecedented faith their followers had in them which drove them in thousands supporting them in every walk of their life.

Come today, as Ramdev Baba plans for a fasting, crores of money is being spent for ACs, RO water plants, large LCD screens, renting the venue for lakhs of rupees, private flights, water proof tents and costly cars. What an irony dear! Crores of money is being collected, albiet as donations, for this mass gathering. Even a major news site reported that the donations are in the denominations of Rs 1 lakh to 11 lakhs. Baba has some really 'rich' disciples. He has got businesses worth crores of rupees. Some nice publicity surely for Baba at the global level. Thats a wonderful strategy for him and his institutions. Hats off to his marketing strategy.

And finally, I hope he does something for the poverty at grassroot level. And I definitely do not mean Yoga or ayurveda medicine for the poor.