Trillions in debt.

"UK employers shed more workers in July," as "Job vacancies dropped further to 707,000 in the May to July period, the lowest since 2021." "Total US public debt surpassed $40 trillion for the first time, and has now surged by a third in less than five years." "Japan's economic growth unexpectedly slowed in the three months through June," and so "Japan's budget requests for next year are set to hit a record that may overstate the rate of fiscal expansion." While, "China is doubling down on a targeted program that's tapping fiscal resources to drive borrowing by businesses and consumers." ET. "The Congressional Budget Office projects that...net interest payments will total $16.2 trillion over the next decade, rising from an annual cost of $1 trillion in 2026 to $2.1 trillion in 2036." Interest costs will be 3.2% of GDP this year, as a share of federal revenues interest costs was 18.5% at the end of last year, and will reach 15.7% as a percentage of  total spending by 2029. pgpf.org. For comparison, India's "Interest payments on government debt for FY 2026-27 amount to Rs 14.04 trillion, consuming approximately 25% of total expenditure. This makes interest payments the single largest expenditure head, exceeding defence spending and subsidies." "Years of fiscal deficit have accumulated government debt exceeding 55% of GDP." govtbudget.com. "The amount the US owes compared to its annual economic output - known as its debt-to-gross domestic product (GDP) ratio - is 125.8% according to the IMF." UK's ratio is 103.6%, China's is 106.9%, while Japan's is highest at 200%. BBC. "A sell-off in US government bonds is pushing up borrowing costs," and "the rise in yields on the 10-year Treasury is pushing up mortgage rates and corporate borrowing costs" as "Companies typically borrow at a Treasury yield plus a credit spread that compensates investors for default and liquidity risk." It is also bad news for the world as, "A sustained rise in US yields can pull capital towards dollar assets, strengthening the dollar and tightening financial conditions abroad which makes it harder for...indebted governments and emerging-market borrowers to refinance." Reuters. Perhaps in anticipation, the Reserve Bank of India (RBI) has allowed banks to borrow from non-resident Indians (NRI) at higher rates of interest and promised to compensate higher repayment costs due to rupee depreciation. India's largest private bank, HDFC is paying 6.25% on 3-5 year US dollars. "The RBI said authorized dealer banks had reported $65.397 billion in FCNR(B) inflows as of 21 August. Overseas foreign currency borrowings (OFCB) contributed another $4.86 billion and external commercial borrowings (ECB) contributed $2.591 billion, for a total of $72.85 billion. Mint. All these loans will need to be paid back in foreign exchange, with interest. China is also a problem. China's augmented debt Is 135% of GDP and "Unlike US and most other countries, China is seeing debts mount rapidly in the private sector as well. Total debt amounts to nearly 350% of GDP, that is higher than US," wrote Ruchir Sharma. To meet its economic growth target, "Beijing has dropped export prices nearly 20%, producing a 40% surge in volume." Last year, China's trade surplus surged 20% to a record $1.2 trillion. "China's dumping offensive is de-industrializing rival exporters the world over," and "India has been particularly hard hit recently, and has suffered a sharper decline in its share of global manufacturing than many Asian rivals," wrote Sharma. Public debt of the US and China is rising which should mean that they have economic problems. Why would we suffer? That's how weak we are. Sad. 

Dimagi 'friends'.

"The government's proposal to offer training in artificial intelligence to 10 million people over the next year; free online coaching for competitive and government exams and a nationwide campaign to scout and train future Olympic contenders as announced by Prime Minister Narendra Modi in his Independence Day speech, outlines the outreach the Bharatiya Janata Party (BJP) has planned to reset the narrative against the party and government." HT. Mr Modi did not clarify who will teach students, for how many hours per day and in what language. Also, Between March and July, there was one blocking order every 68 seconds, on an average, for online content by the government in India. This amounts to around 1,275 every day, nearly 19.5 million in just five months, according to a report by The Indian Express. If petty officials keep blocking the internet at their whim, what will students learn from blank screens? " Students are paying hundreds of thousands for in-person coaching for the Indian Administrative Service (IAS) exams (Vajirao & Reddy), some repeatedly, but cannot qualify. Only 6.2% of candidates clear the IAS selection exam at the first attempt.. Legacy IAS. Salaries in AI jobs are in tens of millions. A Senior Technical Project Manager earns in excess of Rs 18.3 million (Rs 1.83 crore) per year. 6figr.com. If learning AI or passing entrance exams for seats in elite colleges or for IAS training was so easy why are more than 80 million youth "caught in a difficult spot - with no job, no education and no training"? "According to a Niti Aayog report, an estimated 87 million Indians aged 15 to 29 fall into this category." TOI. Because there are no jobs. And so, "The central government is set to step up its outreach to Gen Z with the launch of the 'One Day, One University' campaign, aimed at creating a more direct and interactive engagement with young people." News 18. Since they cannot offer any job what would be the purpose of these visits? Is this an attempt to campaign for next year's assembly elections in several key states (wikipedia)? As for Olympic athletes, "At the recently concluded Commonwealth Games in Glasgow, India finished fourth with 39 medals.Nine winners were backed by Olympic Gold Quest (OGQ), a private company focused on helping Indian athletes win on the global stage. Notably, its financial spending now surpasses even the government's own spending." Mint. Will the government keep our female athletes safe from predators? Early this month, the Delhi High Court acquitted "former Wrestling Federation of India (WFI) president and ex-BJP MP Brij Bhushan Sharan Singh...in the high-profile sexual harassment case filed by six women wrestlers." DH. In the same speech that Mr Modi was promising an abundance of goodies to Gen Z, he said, "We have succeeded in ending armed Naxals (Maoist militants) in the jungle and freeing the country from that crisis. However, while armed Naxals are gone, dimagi Naxals (ideological Naxlas) are looking for an opportunity." "We need to isolate these ideological Naxals and connect the country's young generation toward building a developed nation." The Print. How exactly? By shooting a 19-year-old unarmed student protester 5-6 times with a pellet gun (HT) and maiming him for life? Mr Modi, "who has long cultivated a strongman image" has suddenly gone soft on Instagram. "Modi's timeline, which until a month ago featured carefully curated posts, now also includes more 'candid' content, such as a get-ready-with-me reel and several selfie style addresses to young people, whom he calls 'friends'." BBC. The 'candid' content and selfie style are all carefully choreographed. Will Gen Z fall for Mr Modi's insincere benevolence and deception? What about the parents who have spent millions on their children's education only to see them sitting unemployed and being beaten up? The fear is that the BJP will use every ploy, including fake charges and extreme violence to stay in power. God protect our children. From fascists. 

How not to tackle a hole.

"Reserve Bank of India (RBI) Governor Sanjay Malhotra said he would prefer greater clarity on the persistence and trajectory of inflation before considering any recalibration of the policy rate, while warning that a broad-based rise in food, fuel and input prices could warrant monetary tightening." ET. "When we say inflation has come down from, say, 6% to 2%, it means the rate of change of prices has come down. But prices are still going up." "There exists a school which always argues that inflation is low; even when high it is not a concern; and, as a corollary, interest rates should be lowered," wrote Madan Sabnavis. Inflation compounds every year which is what consumers feel when they shop. "This fiscal year, inflation has averaged 3.9% in the first quarter, but perception of inflation was 7.7%." And so, "Companies have often said in their investor presentations that demand has been affected by inflation; that higher food bills have left less money for discretionary consumption." In March, "India's federal government...retained its retail inflation target at 4%, within a comfort band of 2%-6%," for the next five years. Reuters. In February, the base year for Consumer Price Index (CPI) inflation was revised from 2012 to 2024 using the Household Consumer Expenditure Survey 2023-24. The weights of various items in the CPI basket changed. Weight of food and beverages decreased from 42.617 in 2012 to 36.753 in 2024, housing, water, electricity, gas and other fuels increased from 16.888 to 17.665, while transport increased from 6.394 to 8.796. pib.gov.in. In its meeting on 5 August, the Monetary Policy Committee (MPC) of the RBI held its interest rate at 5.25% (Reuters) while "After considering all factors, CPI inflation for 2026-27 is projected to be 5.0% with Q2 (July-September) at 4.7%; Q3 at 5.9% and Q4 at 5.5%," said Malhotra. "In August, the growth estimate for this fiscal year has been upped, yes upped to 6.7%, while the inflation estimate has been lowered a tad, from 5.1% to 5%." "Apart from the fact that the MPC's estimates need to be taken with a huge pinch of salt, given the heightened external risks, a repo rate of 5.25%, implies a negative real rate of interest for the next three quarters." "Part of the reason might be the MPC's apparent belief that core inflation matters more than headline. The term 'core inflation' (excluding food and fuel) was mentioned eight times in Gov. Malhotra's Statement," wrote Mythili Bhusnurmath. "The interest question, then, is not whether RBI should have raised rates. The more revealing question is why almost nobody expected it to." "Over time a fairly settled view of the RBI has emerged. It is widely seen as an institution that prefers to wait rather than tighten policy unless inflation becomes impossible to ignore or external developments leave it little room for manoeuvre." That reputation "has been accumulating for several years," wrote Puja Mehra. Since food and beverages have the biggest weight in the CPI basket, the retail price of food depends on supply and a higher interest rate will not increase supplies, is the reason for paralysis. What is conveniently forgotten is that food, especially perishable fruits and vegetables, are transported by trucks from farms to mandis (wholesale markets) in cities which have to pay toll multiple times during the journey. "At the Shahjahanpur Plaza, for instance, the one-way toll is...Rs 665 for a bus or truck and more than Rs 1,000 for vehicles with four or more axles." Mint. The price of diesel used by trucks has also jumped in recent weeks. noewsonair.gov.in. High inflation helps the government by reducing debt (economic help) and low interest allows the government to borrow cheaply. The RBI is trying to help the government but the economy depends on what people earn and spend their money on. What do they say about holes (wikipedia)? Just obeying orders. May be.    

Sugar to prevent climate change.

In a 1991 paper, To Slow or Not to Slow, William Nordhaus "projected that a 3 degree C rise in global temperature would shave barely 0.25% off US income." "His later work went further, predicting gains for cold developed regions - lower heating bills, longer growing seasons, better farming in US, Canada, Russia and Europe - while poor tropical countries bore the losses." He was awarded a Nobel Prize in Economics in 2018, wrote Chandra Bhushan. The result is that wildfires are increasing in Europe in the last 20 years, with a record 1 million hectares burned across the European Union (EU) in 2025. "Almost half a million hectares have burned so far this year in the EU," more than in 2025. "More than half the EU countries have recorded more fires in 2026 than they do in a typical year." CNN. "By mid-August Europeans were sweating through their fifth heat wave of the season," with temperatures well above 40 degrees Celsius (104 degrees Fahrenheit). A severe drought for months contributed to "record-low river water levels and disrupting water and power supplies, transportation routes and agriculture." nasa.gov.in. "Someone will have to pick up the tab for the damage wrought by Europe's increasingly volatile weather, and with the bulk of those economic losses uninsured, that will be the public purse unless immediate action is taken." "Only a quarter of climate-linked catastrophe losses are insured in the EU, with coverage in some countries below 5%." Reuters. In India, "A single day of extreme heat causes about 3,400 excess deaths across India, while a five-day heat wave causes nearly 30,000, a study has estimated." The five states with the highest burden of deaths were "Uttar Pradesh, Bihar, Madhya Pradesh, Rajasthan and Gujarat which together accounted for 66% of the country's excess deaths while contributing only 25% of the country's GDP." NDTV. One reason heat feels so intolerable in Europe compared to India is that summer days are much longer in northern latitudes, recent heatwaves have not been accompanied by any wind and "The sun feels sharper in Europe due to the clear skies, while pollution in India scatters and dissipates heat differently," said Siddharth Singh. "Pollutants not only severely impact public health, but also the earth's climate and ecosystems globally." "Reducing ambient and household air pollution can also reduce emissions of carbon dioxide (CO2) and short-lived climate pollutants, such as black carbon particles and methane, therefore contributing to the near- and long-term mitigation of climate change." And, "the use of fossil fuels for power generation, industry and polluting transport are all major sources of both particulate matter and CO2." WHO. "India has long been portrayed as one of the world's great coal growth markets," as "Coal still accounts for roughly 70% of electricity generation and remains the backbone of the grid." But, "clean energy sources now account for 331.7 Gigawatts (GW) of installed capacity, compared with 302.0 GW for fossil fuels." However, "generation statistics describe today's electricity system, while capacity figures provide a window into tomorrow's." Reuters. "Artificial intelligence (AI) models are becoming cheaper to run," but "The Ministry of power projects an additional 26.3 GW electricity demand from data centers by2031-32." ET. Electricity generation is vital so the government blames automobiles for pollution. The solution is petrol adulterated with 20% ethanol, which is produced from maize, rice and sugarcane. And so, "Govt yesterday allowed the import of 100,000 tonnes of raw sugar, the first such move in a decade, as it stared at a possible decline of at least 20% in the opening stock of the sweetener." TOI. That is naturally raising the retail price of sugar. With the festival season about to start people will not be pleased with high prices of sweets. Import 244 million tons of coal in 2024-25 (coalcotroller.gov.in), try to mitigate by producing ethanol and end up importing sugar. Ethanol, or ethyl alcohol, makes people drunk. And that leads to confusion. Cheers.         

Cash is colorless.

"The US banknote, the most ubiquitous currency in the world used in everything from drug deals to legally accepted tender in multiple countries, falls short of the rupee when it comes to circulation numbers." There are 176 billion banknotes in India compared to 56 billion US dollar bills and 30 billion euro banknotes. "Cash has continued to grow despite the expansion of digital payments." TOI. "India's currency in circulation (CiC) climbed to record-high levels in late 2025 and early 2026. So far in 2025-26, CiC has increased by Rs 2.76 trillion, 3.1 times the rise seen in the same period last year. " At the same time the value of Unified Payments Interface (UPI) transactions increased to a record Rs 28 trillion, wrote Soumya Kanti Ghosh & and Tapas Parida. The reasons could be because the tax department tracked UPI transactions and sent GST notices to street-side vendors and small stores, low interest rates on bank deposits and households recycling precious metals because of the high prices. "The apparent paradox of of the usage of of both rising is a warning that we are settling into a hybrid equilibrium: digital for convenience, cash for avoidance and for those excluded from UPI." One reason for the rise in cash is "the fear of UPI as a trap for small traders." Then, there has been an "explosive growth of unconditional cash transfers , estimated at 2% of GDP across 15 states." That increased cash use in rural and informal India. Thirdly, there is "the rising use of money power in elections," wrote Ajit Ranade. And, since politicians need cash to win, the use of cash will continue to balloon. India has introduced strict rules to restrict cash
transactions. This is expected to curb black money, which is income hidden from authorities to avoid tax, improve tax compliance, reduce counterfeit currency and improve financial inclusion. Bajaj Finserve. On 8 November 2016, Prime Minister Narendra Modi announced the withdrawal of all Rs 1000 and Rs 500 notes from circulation with four hours notice. Known as demonetisation. He said it would "curtail the shadow economy, increase cashless transactions and reduce the use of illicit and counterfeit cash." A total of Rs 15.44 trillion became worthless. The hope was that black money would be destroyed. In reality, Rs 15.28 trillion, or 99% of the banned notes were deposited in banks. A total of only 573,891 counterfeit notes were detected out of 24.02 billion notes withdrawn, which was close to 0%. BBC. However , it caused enormous hardship as people had to queue up for hours to exchange old notes for new, and daily wage laborers, who earn in cash, became unemployed. In the US in 2024, "approximately 20 million households rely on cash as their primary payment method, particularly among those who are unbanked or underbanked and individuals earning under $25,000 annually." "Pro-cash legislation has been gaining momentum across the US, with several states and cities implementing or considering laws to protect the use of cash as a form of payment." cusomag.com. But black money is not all black. "Back in the last years of the noughties India's economy was looking just as frothy as the rest of the world.. It had been growing at an astounding 9% a year for three years to 2008.." "The difference in India is that all this 'irrational exuberance' did not end in disaster." Prof Kaushik Basu says that "pervasive use of 'black money' - illegal cash hidden from tax authorities - created a bulwark against a crisis in the banking sector." BBC. Finally, one can lose only that much cash as they are carrying, but with rising rates of cyber crime and increasing sophistication of cyber criminals (pib.gov.in) one can lose all the money in one's account. Governments earn from seigniorage, which is the face value of currency notes compared to the cost of producing it. Investopedia. This year the RBI transferred Rs 2.87 trillion as dividend to the government. Reuters. Do they want to cut that down? Black or white, cash helps the economy. It has no color.  

Free coaching to climb to top 1%.

"Multiple BJP leaders said the party's internal surveys and feedback from the cadre underlined that the recent bypoll upsets and the growing criticism of the government on social media platforms are an immediate fallout of the 37-day student protests led by the Cockroach Janta Party." "To ensure the government is not blindsided,...particularly as preparations for polls in Punjab, Uttar Pradesh, Uttarakhand, Manipur and Goa have begun, the party has begun an aggressive outreach targeting young adults." HT. The BJP seems to think that the students were misled and persuasion and brainwashing will set them right. Students were angry because, "The NEET-UG 2026 exam was cancelled on May 3 after the paper leak came to light." ET. "The National Eligibility cum Entrance Test  (Undergraduate) or NEET (UG)...is an Indian nationwide entrance examination conducted by the National Testing Agency (NTA) for admission in undergraduate medical programs." wikipedia. Students appearing for this exam are some of the best in their schools and have been preparing for years. Unlike semi-literate 'Bhakts' (devotees) of Prime Minister Narendra Modi who believe anything they are told on social media, created by the BJP's IT cell, led by Amit Malviya and a team of 150 well-paid employees. They believe that the 'Golden Age' of India was in some mythical past and the Nehru family is responsible for all ills. DH. Government school student Yashvardhan Kumar Mishra appeared for the Repeat NEET (UG) exam in June 2026 where he scored 92 percentile and failed to secure a seat in a government college. Only the top 1%-1.5%, who scored 99 percentile, succeeded. Mishra's family cannot afford a private medical college, wrote Sayantan Bera. "For decades there seemed to be a correlation between higher education and lucrative jobs. But in reality it was inequality that helped people secure such jobs." Employers cannot absorb the number of people who can afford to qualify. Indian parents "can bring up their children in filthy air, let them dangle from unsafe trains and travel on dangerous roads, but they will not tolerate that terrifying thing called an uncertain future. Of such a future, the BJP may now be a mascot," wrote Manu Joseph. And so, Mr Modi "has announced free online coaching for students belonging to poor and middle class families." And 10 million youth "will be given AI skilling in the next one year." newsonair.gov.in. How will they stop  students of rich parents from accessing the site? Another irritation for the BJP is the victory of Prashant Kishor of the Jan Suraj Party in a by-election in Bankipur, Bihar which the BJP has held since 1995. "Its former legislator, Nitin Nabin, inherited the constituency from his father and won it five times before resigning earlier this year" BBC. Mr Nabin is now BJP National President and a member of the Rajya Sabha. wikipedia. HIs seat must have been considered a fortress. Samajwadi Party president Akhilesh Yadav alleged that the BJP deliberately lost recent by-elections. "The BJP has lost these by-elections to deceive the people." "Now they will say that opposition parties will no longer raise questions about EVMs." TOI.  An EVM is an Electronic Voting Machine produced by Bharat Electronics Ltd, a public sector company. Many believe the EVMs have been hacked and reprogrammed to transfer votes to the BJP. Since they do not have one-time programmable chips (OTP) they can be erased and reprogrammed. The India Forum. Towards the end of June, "Around 3,000 EVMs were destroyed in the Alipore Administrative Building fire, a senior EV official said." TOI. This was about one month before the by-elections on 30 July (newsonair.gove.in). Not enough time to manufacture and hack into so many machines? Although there is plenty of time till February 2027 when assembly elections to Goa, Punjab, Uttarakhand and Uttar Pradesh are to be held (wikipedia) the BJP does not want to leave anything to chance. Hence, free coaching and brainwashing. Will wholesale coaching get anyone into the top 1%?      Will it create jobs? The minister was not pleased with creating delivery boys and girls. DH. What about coached and AI skilled delivery boys and girls? Make parents proud.   

They have nothing to lose.

 "Iran has decided to shift its policy from defensive to 'fully offensive' due to the deadlock in efforts to agree a permanent end to its war with the United States, a senior Iranian official told Reuters." US President Donald Trump warned Americans "to prepare for continued high fuel prices as the result of the war, while also saying that 'after we finish defeating Iran pretty soon...I'll be declaring the Hormuz Strait a territory of the United States." NDTV. Islamic Revolutionary Guard Corps (IRGC) Political Deputy Brigadier General Yadollah Javani "told Iranian state media that Iran's actions so far had been defensive but could assume an offensive character in the future." "He added that the armed forces would adopt transformative approaches." ET. Iran has carried out extensive attacks with missiles, drones and fighter jets on Gulf Arab states. wikipedia. "Saudi Arabia launched numerous, unpublicized strikes on Iran in retaliation for attacks carried out in the Kingdom during the Middle East war, two Western officials briefed on the matter and two Iranian officials said." "The United Arab Emirates (UAE) also carried out military strikes on Iran, the Wall Street Journal reported." Reuters. "Iran has accused Qatar of holding three Iranian military pilots who went missing in March after their aircraft were shot down, a claim strongly rejected by Doha." "Iranian state media also reported that a fourth pilot was killed during the same mission targeting a military base in Qatar." NDTV. "Iran yesterday said it has reached an agreement with Oman on a plan to manage the transit of ships through the Strait of Hormuz and the two sides are now working to finalize details for a joint statement," Iranian Foreign Affairs spokesperson Esmail Baghaei said." newsonair.gov.in. Is Iran offering Oman a share in its efforts to extort a tariff from every tanker that passes through the Strait, thereby dividing the Gulf Arabs and undermining a US deal with Tehran? Trump "has threatened to bomb Oman - a US ally - if it 'gets in the way' of his administration's own talks with Iran." "An IRGC spokesman denied Trump's claim." BBC. "The number one goal is, and always will be, that Iran cannot have, in any way, shape, or form, a nuclear weapon," said Trump. "Two drones targeted the office of the Kurdistan Regional Government's prime minister and the home of the region's intelligence chief in northern Iraq...but there were no reports of any casualties, the KRG security agency said. The attack was launched from Iranian territory, it said." Reuters. Meanwhile, "Yemen's Mocha port has suspended commercial and maritime operations after being hit by more than 25 missiles in Houthi attacks over recent days, the port's director has said." "Mocha is a Red Sea port near the Bab el-Mandab strait, a strategic chokepoint connecting the Red Sea with the Gulf of Aden and a key route for international shipping." Reuters. Iran's economy is near collapse, with scarcity of food and runaway inflation as the US has blockaded Iranian ports, stopping its oil exports. People are barely able to afford food. referl.org. Iran has gone into survival mode with, "Tehran rationing scarce goods, limiting access to foreign currency, slashing investment and shifting more of the burden onto households while preserving strategic imports and the essential machinery of the state, analysts said." WSJ. After an estimated 36,500 unarmed protesters were murdered by the regime in January (Iran International) it is obvious the regime will sacrifice any number of citizens to ensure its survival. The regime may be trying to set the whole Middle East on fire as a kind of scorched earth policy (Britannica). This is an ideal time to supply handguns and ammunition to protesters. People are most dangerous when they know they are going to die of hunger anyway. Win the war. Minimize suffering. Of Iranians.

Why are they special?

One week ago, "Students at the National Academy of Legal Studies and Research (NALSAR) University of Law, Hyderabad, have opposed having Chief Justice of India Surya Kant as the university's convocation Chief guest." Although the date of convocation or the chief guest have not been confirmed "it has been a tradition for the university to have the CJI deliver the convocation address." This is because the CJI compared "unemployed youth and individuals without professional standing to 'cockroaches' and 'parasites'." DH. Taking exception to that, the Bar Council of India (BCI) issued a notice saying "those who organised opposition to the invitation to CJI Surya Kant for the institute's convocation would not be enrolled as advocates."TOI. Within hours the BCI was forced to withdraw its own order against Nalsar students saying that it has been reported that "a handful of teachers and outsiders were instrumental in instigating students," and that "no student shall be made to suffer without any fault on his part." Law Street. "The Supreme Court said students had a right to protest peacefully and stayed any coercive action against NALSAR students or faculty." "If the students are protesting peacefully who is BCI to take action? ...It is a dialogue between students and me. No one has the right to step in," the CJI said. TOI. So magnanimous. Expressing solidarity, "Students and alumni of the National Law School of India University (NLSUI) have expressed strong disapproval of BCI chairperson Manan Kumar Mishra," and "warned that such actions could have chilling effect on free speech across universities by 'sending them a clear signal that any act of dissent will be met with severe personal and professional consequences'." TOI. While being so courteous and tolerant of free speech for law students, the same Supreme Court "said police forces can be permitted to use pellet guns in exceptional circumstances," during the "Cockroach Janta Party (CJP)-led protest at Jantar Mantar over the alleged NEET paper leak, during which several demonstrators sustained pellet injuries." ET. Pellets are designed to spread out indiscriminately and blind and maim permanently. Pellet guns were used extensively in Kashmir in 2016 and have left victims permanently incapacitated. "My bullet injury healed over time. But pellet injuries never heal. Permanently lodged in my body, they have left me unfit for work, unable to be in the sunlight for long or play any sports, walk or even rest," said Ashraf who had been shot with a bullet as well as pellets in Kashmir. The Wire. And the Supreme Court is happy for students protesting against leak of NEET (UG) questions to be maimed for life. "The National Eligibility cum Entrance Test (Undergraduate) of NEET (UG)...is an Indian nationwide entrance examination conducted by the National Testing Agency (NTA) for admission in undergraduate medical programs." wikipedia. So, law students have the right to free speech in rejecting the CJI, but students aspiring to be doctors, protesting against their careers being destroyed by cheats, are to be maimed for life by pellet guns. Even as, "More than 10,000 cases are pending in the Supreme Court for over 10 years. In the 25 high courts across the country, over 80,000 cases are pending for over three decades." TOI. Since lawyers charge fees per appearance in court (Karl Rock), they prolong cases indefinitely, assisted by tolerant judges. And yet, the Supreme Court has ruled that lawyers cannot be held liable for poor service under the Consumer Protection Act, despite charging scandalous fees, while doctors are liable. DH. Equality before the law? (Indian Kanoon). Right to protest? Only for lawyers.       

 

Free is expensive.

"India's central bank will close a discounted forex swap facility for banks to hedge overseas deposits raised from non-resident Indians (NRI) a month earlier than planned," as "The RBI said it received $52.3 billion via FCNR deposits raised by banks." The scheme will now close on 31 August instead of on 30 September. Reuters. Higher foreign exchange reserves are necessary as, "India's goods exports in July, driven by higher electronics exports and engineering items, jumped nearly 20% to $44.24 billion but higher input costs due to West Asia crisis also drove imports 17.51% higher to $76.22 billion, pushing the goods trade deficit to a six-month high of $32 billion, data released by the Commerce and Industry Ministry showed." TIE. From April to July, FY 2026-27, total Merchandise exports were $173.78 billion and imports were $292.38 billion, while Services exports were $142.64 billion and imports were $73.47 billion, resulting in a total trade deficit of $49.43 billion. pib.gov.in. India's electronics export is booming. "In July, India exported $5.92 billion of electronics goods, up 57.4% from a year earlier, while imports surged 46.03% to $14.37 billion. For every $100 of electronics exported, it imported about $243." "China remained India's largest import source, with imports rising 34.4% in July to $14.67 billion." Exports to China were a tiny $2.20 billion. MC. India's "farmers use more urea - a nitrogen-heavy crop nutrient - than the US and Brazil combined, buoyed by government support which keeps prices well below market rates." As supplies through the Strait of Hormuz have stopped, India "has faced lofty costs for the natural gas imports...that serve as a crucial feedstock for domestic fertilizer production. The country's fertilizer subsidy bill is likely to exceed Rs 3 trillion ($31 billion) in the current fiscal year, well above the budgeted Rs 1.71 trillion." "Farmers still pay Rs 266.5 (2.80) for a 45-kilogram bag of urea, less than a tenth of the price paid in an April tender to procure it." ET. "Studies show that plants absorb only 30-40% of applied fertilizers such as urea and DAP (Diammonium Phosphate), leaving 60-65% of nutrients unused." "This is leading to groundwater contamination, air pollution and inefficient use of subsidized farm inputs, according to manufacturers and experts." Mint. "The total outstanding agricultural loans of banks neared Rs 31.35 trillion as on 31 December 2025." "Over the past decade, it reached nearly Rs 28.67 trillion in 2024-25 from Rs 8.45 trillion in 2014-15." Public sector banks (PSBs) account for over 70% of these loans. The Kisan (farmer) Credit Card Scheme (KCC) had 77.2 million operational accounts with loans outstanding of Rs 10.20 trillion, as on 31 March 2025. HT. It is unlikely that farmers, already poor, will be able to repay any of these loans and so the whole amount becomes a subsidy. Meanwhile, "The Parliamentary Standing Committee on Defence has flagged poor demand, high production costs and recurring quality issues at the country's small-arms factories." High overheads "resulted in cumulative losses of Rs 3.66 billion across three factories on 12 selected small arms between 2015-16 and 2019-20." "Even after corporatisation," Advance Weapons and Equipment India Ltd (AWEIL) "recorded losses of Rs 2.34 billion between FY 2023-24 and FY 2025-26." India Today. Why not shut them down? Probably because a large number of highly-paid poor-quality workers will lose their jobs and that might cost votes. Speaking on infrastructure, Chief Economic Advisor, V Anantha Nageswaran said, "Free is the most expensive word in public policy." Waste of trillions of rupees is being used as subsidy. Then borrowing to fill up the hole. This is not voodoo economics. It's worse.