This week was Diwali and for all practical purposes a holiday week. Wednesday was Laxmi Puja, Thursday was Balipratipada and Friday Bhau Beej. As our friends in the US called it, "Indian Christmas".
The world is going through a financial slowdown and India is no exception. The Indian stock market indices had lost around 20% of their value since the last Diwali. So most people now had less than 8-% of what they had 1 year ago. The losses amount to over Rs. 1000 crores / hour of trading during the year. On a television show, the stock market wizard and current market favourite Mr. Rakesh Jhunjhunwala made an interesting comment. "This was my worst trading year ever. And I got all my calls Right". That seemed to sum up the feeling of all those who traded on the stock market. Did everything right. Yet made huge losses.
Somehow it did not seem like the global slowdown affected the common man. The malls were full. The shops were brimming with people. On Dhanteras, the day that Indians buy Gold, lines to pay stretched for as long as 20 - 30 minutes with several additional counters. One interesting point I noted that a large proportion of those transactions seemed to be in Cash. This is not based on any scientific survey and is at best a dip stick observation. I continued my observation to restaurants and the same story seemed to be repeating itself. Hence it looks like a significantly large number of people have Cash.
You need not be Einstein to figure out that large amounts of Cash cannot be legitimately earned. Hence it seems like the only people who can afford the good things in life are the "Not Honest". So I guess what we learnt in school "Cheaters never propser" and "Honesty is the best Policy", is at best questionable. On an aside, if the government wanted to curb black money, all it needed to do was ensure that "Cash" is not accepted for any trasaction for more than Rs. 100.
Diwali is the festival of lights. And most Hindu homes are completely lit up. Traditionally Diyas were used, but now they have been substituted by extremely cost effective beautiful LED lights. Like all cost effective good things, "Made in China". The city looks beautiful, with brightly lit buildings and homes. And the city wears a festive look. Its a time of celebration and like all Indian celebrations accompanied by good food. Varities of sweets, completely delicious, totally tempting and irresistible. And of course, full of calories. So next month, shall be spent on losing the weight put on in the last week.
One of the only aspects of Diwali, that bothers me is the firecrackers. An Indian tradition where a lot of fireworkers are burst. The problem is the noise, smoke and dirt. The fireworks are burst through the day on Laxmi Puja nd the 2 following days. They increase the already high noise pollution levels to unbearable levels. Their smoke increases the already smoggy air, to smoggier. And their remnants dirty the city that could do with a major clean up. I just wish that we could do what many other communities across the world do. Community fireworks at pre-designated public places. Everyone has a good time without any of the issues.
And the millions of rupees that are burnt into nothingness, can be used in helping the million have what we are fortunate to have, "A Happy Diwali and a Prosperous New Year".
The world is going through a financial slowdown and India is no exception. The Indian stock market indices had lost around 20% of their value since the last Diwali. So most people now had less than 8-% of what they had 1 year ago. The losses amount to over Rs. 1000 crores / hour of trading during the year. On a television show, the stock market wizard and current market favourite Mr. Rakesh Jhunjhunwala made an interesting comment. "This was my worst trading year ever. And I got all my calls Right". That seemed to sum up the feeling of all those who traded on the stock market. Did everything right. Yet made huge losses.
Somehow it did not seem like the global slowdown affected the common man. The malls were full. The shops were brimming with people. On Dhanteras, the day that Indians buy Gold, lines to pay stretched for as long as 20 - 30 minutes with several additional counters. One interesting point I noted that a large proportion of those transactions seemed to be in Cash. This is not based on any scientific survey and is at best a dip stick observation. I continued my observation to restaurants and the same story seemed to be repeating itself. Hence it looks like a significantly large number of people have Cash.
You need not be Einstein to figure out that large amounts of Cash cannot be legitimately earned. Hence it seems like the only people who can afford the good things in life are the "Not Honest". So I guess what we learnt in school "Cheaters never propser" and "Honesty is the best Policy", is at best questionable. On an aside, if the government wanted to curb black money, all it needed to do was ensure that "Cash" is not accepted for any trasaction for more than Rs. 100.
Diwali is the festival of lights. And most Hindu homes are completely lit up. Traditionally Diyas were used, but now they have been substituted by extremely cost effective beautiful LED lights. Like all cost effective good things, "Made in China". The city looks beautiful, with brightly lit buildings and homes. And the city wears a festive look. Its a time of celebration and like all Indian celebrations accompanied by good food. Varities of sweets, completely delicious, totally tempting and irresistible. And of course, full of calories. So next month, shall be spent on losing the weight put on in the last week.
One of the only aspects of Diwali, that bothers me is the firecrackers. An Indian tradition where a lot of fireworkers are burst. The problem is the noise, smoke and dirt. The fireworks are burst through the day on Laxmi Puja nd the 2 following days. They increase the already high noise pollution levels to unbearable levels. Their smoke increases the already smoggy air, to smoggier. And their remnants dirty the city that could do with a major clean up. I just wish that we could do what many other communities across the world do. Community fireworks at pre-designated public places. Everyone has a good time without any of the issues.
And the millions of rupees that are burnt into nothingness, can be used in helping the million have what we are fortunate to have, "A Happy Diwali and a Prosperous New Year".
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