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