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More tributes to GR Solar thermal shines… Increasing non co-operation of state leaders TN accounts for the largest recruits by the IT sector Sweeter prospects for sugar Quality education through the PPP mode Readers' Mail Welcome focus on core competence When nations steal growth from one another… CSR and CMI: promise of another Srinivasan Ramanujan... Shaming of Tamils by Tamil farmers at Delhi Shale gas and its shallow future Delhi Chalo... Adharma of opposition politics PPP mode for upgrading Corporation Hospitals The Ports’ Pasha expands into Tamil Nadu EEC at the National Media Centre For whom the bell tolls? Put expensive assets created to use... F C Kohli - his concerns all embracing Liberal imports idling indigenous capacities Telangana in top gear… Diamond jubilee of Egmore Samskrt School Tribute – M V Murugappan to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Of course, Gujarat is vibrant R Sridhar steps down as CEO of Shriram Capital Banning booze... Focus on quality of power - its only around 170-180V Nuclear power at the nucleus Welcome changes that testify to Jayalalithaa’s return to health Shipping woes of Chennai companies A C Muthiah – his munificent bequeaths to science Breaththrough in malaria control Revive development banks... The rise and fall of Annamalai University Roaring Ro-Ro facility A proud Madrasi Whistle-Stop Tour of Raghuram Rajan Build close rapport with business leaders A think tank for Chennai Tribute – Manikam Ramaswami Eternal support for capitalisation of PS banks TN – agglomerate land holdings without alienating ownership Rs.1600 crore paper board plant of TNPL Delhi returns to BJP Tribute Don’t seem to feel the pulse… There was flood of milk. Reason: no milk commissioner! West Bengal: mindless malignancy Streamlining mandatory third party cover Pharma – overdose of copying Multi-faceted Venkat Tihar, Puzhal not different from Parappana Agrahara The Gulf aviation boom Bihar elections - the Rajaji formula worked An inexplicable neglect The Swadeshi Trump Dr C Rangarajan returns to Chennai Reliance’s TV – 18 ready to launch Tamil News Channel All eyes on Sankara Nethralaya When small is no larger beautiful.. Naidu’s return augurs well for Seemandhra Quality silica from Neyveli Which side are you, Montek? Not just in-laws (and outlaws); they’ve renowned academics at the helm! The brown list of Venkitaramanan Gas is the way forward ONGC at KG Basin TGS- The king storyteller No engine for this car Contrarian cousins No Maha Koottani in TN... The why of tax incentives Infrastructure funding – lessons learnt More heat than light Airlines in India: cost and space Align crops to agro climate endowments… How Air-India loses customs... The balancing act Like Hinduism: many paths to reach God... Mu Sigma – is no more A rich pool of talent not utilised…. Limit foreign borrowings to hi-tech, export potential projects... Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Naidu will soon build a new Hyderabad Vibrant Gujarat PC’s preference for professionals A welcome initiative by the judiciary Air Asia India will set new benchmarks for budget travel Paytm karo... Waning interest in public discussions… Lesson from Chandrababu Naidu Rahman at CIC B H Kothari - a tribute Scientists urged to take up farmer-oriented research S V Raju – a ‘good’ true liberal A more liberated TN… Lalu’s envy, India’s pride Padma Bhushan for A Ramakrishna Modi storms Silicon Valley When Ratan Tata visited SRM Cutting the nose to spite the face Poor representation for Kerala and TN in Cabinet Maximising the micro pricing … The sea- saw battle continues... Boy, can you beat these? TELANGANA at last…BUT London, London Narayan Make standards certification mandatory... Music happens New IT products of Ramco in the pipeline… Moily’s bold thrust Robber barons everywhere Shanti and Sadhana through Music Plummeting profits of PSBs Odisha: spectacular win by Naveen Patnaik Wanted: a second airport for Chennai Revving up the manufacturing sector This scant respect for Law Cement prices continue to rise… Five star activism stalls development activity Protest masters... The ‘Jayanthi Tax.’ The power-full Hindujas CRS, a jewel among managers, is no more. MHC should not return to its old indisciplined ways Should we change the official year? Mersal magnified Insurance companies bleeding, yet no decision on increasing FDI limit! He saved millions from starvation... Solar, solar everywhere … A professional at the helm of IRDA... Things happen by accident and not by design... CII projects higher growth… Wise Presidents GNS - 100: our first subscriber Remembering Indira Sivasailam... Haul over the coal Why this malaise in medical education? When TN politicians can emulate Kerala's Building loyalty through the stomach GM Technology at last! Sweet news for TN sugar mills IAS invades NDDB... Modi and the lady Tough task taking states together A friendly business group Welcome thrust on trade in Modi’s foreign visits... A Grand Finale for SN’s MS centenary at the US… Online not in line with brick and mortar businesses... Land reclamation from sea appears cheaper! Towards speedy justice Recognition to role of NBFCs.... The star of Spencers is no more WTO Meet: resolved to meet again Why land prices zoom in TN? Gay abandon in pricing Kinetic Karnataka …and of a popular trade leader Russi Mody – a tribute Fall in crude prices help in oil sector reform TIAM turns a full cycle An enemy’s enemy is a friend Parliament in paralysis... Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai For whom the MIDS bell tolls? The nuclear option Sri Lanka votes for change IPL - no surprise this scam Muffled voices for merit… Colour-Chem’s colourful KRVS Come elections, come advertisements... The few handicaps... The Jan Dhan bonanza Delhi is distant… Auto components surge… When the President was rendered homeless… Alexa – Talking Wikipedia Secularism and anti-Hinduism Small units prefers to remain small... Marketing expert Balagopal is no more Engineering seats go abegging Polls and promises Fuel for thought More Shakti to resource mobilisation... Demise of a media baron... Poor quality of university VCs Medical costs hit the roof... Another Indian music maestro at the UN Editor's Notes The rise and rise of KCP Fortune for Indian Airlines L&T- the specialty of special purpose vehicles CIPET hqrs to stay at Guindy – for the present? A Grand Finale for SN’s MS centenary at the US… Tribute – UCAL Selvan… A yen for wastage… Valli, they are more marginalised Tatas moving out of urea production... Intellectual of rare qualities IPL type auction for VCs? Making ‘my Amaravati’... Adapt Vajpayee dinner diplomacy The ‘Ayyo-yes’ is no more An informal presentation - analytical, forward locking... Where a state respects its litterateurs… Strengthen the base... Inflation: are we emulating Argentina and Brazil? Permanent secretariat for TN GIM Return to king coal for urea... Convulsions in The Hindu Excel Generators provide the vital back-up Godspeed, Chief Minister JJ Preserving for the future SoA @ 80 S Ramanathan – a versatile musician, musicologist More Shakthi to Das’ elbow Measuring roof tops in terms of KW/MW He continues the focus on social amelioration Road development slows down Tatas moving out of urea production... Kudos to NDTV... Cleaning Ganga – relocate tanneries and install electric crematoria Tax agriculture Funding the un-funded Computation of GDP – conundrums continue Fortune 500 review Silver Years of Madras Musings No mega rail project for Tamil Nadu Where is Rajaji? L&T: focus on infrastructure and more infrastructure… EVM is tamper-proof Discoms deserve better… A glass full of corruption Delhi is distant TN-leverage strength of BHEL, NLC... Noble nonagenarians... Editor's Says China invests in India When online building permits work…. Bihar – Nitish Kumar adopts the Lalu model Welcome GST Kulandai was a giant
 
Limit foreign borrowings to hi-tech, export potential projects...

A recent report suggested that funding agencies such as Japan International (JICA) had refused to extend loans for the construction of stormwater drains by Chennai Corporation, impacting projects in Thiruvottiyur, Manali and Madhavaram that involve investment of around Rs 1800 crore; also dropping plans altogether for some other neighbourhood projects.  

For long, multilateral lending institutions like the World Bank, IMF and bilateral donors like the KfW of Germany and JICA had traditionally been extending long term funding on soft terms for the development of such civic projects. Priorities have been changing for bilateral lenders, who now fund to more technology-oriented projects that would be of benefit to their industries. For instance, Japan International Cooperation Agency (JICA) has been extending large credit on soft terms for railway projects: Rs 10,000 crore for Chennai metro rail and Rs 3200 crore for the metro’s intelligent transport system. The bullet train project connecting Mumbai and Ahmedabad is to receive funding to the extent of Rs 88,087 crore.

The issue of borrowing huge sums for civic projects with no scope for foreign exchange earnings, requires re-think. Civic services are essentially offered by municipal corporations. But most corporations are run inefficiently with inadequate attention to resource mobilisation, sloppy execution of projects, leakages of revenues, delays, cost overruns and poor quality of works. Steep fall in the value of the rupee in relation to the dollar, euro or yen adds further insult to injury. The civic projects that do not generate revenues in foreign currency suffer the most by the depreciation of the rupee.

India, in terms of size, is expected to be the third largest in the next few years. The country has been extending handsome loans to several developing countries in Asia and Africa. It should strive to limit seeking funds from foreign institutions for meeting essential needs relating to technology upgradation, import of raw materials in short supply, capital equipment and the like and not for projects for which the country itself has indigenous capabilities. Simultaneously, there should be the striving for achieving self-sufficiency or near self-sufficiency in areas such as energy. The record  of the US over the last 20 years in achieving self-sufficiencies in oil and gas is worth emulating.



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