Book Review: All roads lead to Ganga, Roads to Mussorie and Himalyan Tales

Author of these books Ruskin Bond is a writer who lives on the hills. Mountain streams, birds and animals, trees and flowers, the whole natural biosphere are his subjects of writing. His simple yet sensitive style makes his books easy and pleasurable read for young and adults and can charm those who rarely read too.

These books are collection of small tales on his experiences in Dehra Dun, Garhwal, Mussorie, along the river Mandakini, at the holy place of Tunganath, on the road to Badrinath etc. Even the ghosts find place in these stories, scare a little but entertain and make reader form a different set of viewpoints on the visits to these hills. 

Few stories reappear across these books which readers can skip and continue with the theme. You should buy these inexpensive books if you are falling short of stories to tell your kids or before you plan a travel to Himalayan terrains to deepen the experience one gets from traveling. If you are a bookworm you would have read him already but in case you have not, your personal library is incomplete without Bond, Ruskin Bond.

Opinion: GDP components and cash flow

Here is a simplified formula of calculating GDP. 

GDP = Private Consumption + Govt. Spending + Investments + (Exports-Imports)

So GDP has basically five components. The consumption or spending (both by Private and Govt.) is the biggest component of GDP, contributing approximately 70% to GDP. This consumption demand is partially met by producing those goods & services internally, fueling investments within the system. And some portion of this consumption demand is met by importing resulting in a negative cash flow. Any surplus goods or services exported bring a positive cash flow to the system.

Cash flow of GDP components for a nation

Biggest component of GDP, Private and Govt. spending, can expand or shrink based on what is happening with investments. When investments grow, new jobs are created, it brings more people under tax net and helps both Govt. and private spending to grow further. If consumption demand is met by increasing imports and less by investments, it creates jobs elsewhere draining cash from the system, so limits the expansion of an economic system.

Let us see what the data is for India during the last decade.

Source: RBI data

During 2000 to 2007, investments were distinctively higher than imports. It was self-reinforcing, GDP grew at a healthier rate.  During the last two years, investments slowed and were less than imports. It was self-defeating, resulted in a slower growth of GDP.

Perspective: Land prices during Japan’s lost decade and economics behind it

Source: http://globaleconomicanalysis.blogspot.in/

And the accompanying economics are herewith:

Source: A paper by James Wlicox

Relevance to India:

India is no Japan but there are many similarities in data and trends:

Source: United Nations statistics

• Population density (people per Sq. km) is comparable: 382 (India) vs 350 (Japan)

• Population growth rates are declining in India too

• Slowing GDP growth rate has put pressure on per capita income in the recent past

Source: World Bank Report

• Bad loans in the banking system are rising and have not found a top yet

Source: Business Line

  
   Conclusion:

    If history is any indicator and the trends continue, land prices would soften in India too.

Book Review: Breakout Nations

Very few books successfully correlate history and politics with the economic progress of a nation in a specific time period and this book is one of them. It not only explores few countries but more than a dozen of them in search of a breakout nation. GDP, growth rate and per capita income are the common criteria used along with country specific information while concluding if a nation continues to be a breakout nation or falls off the list.

Author of this book Ruchir Sharma, who also wears hats of an investor and a traveler, puts the subject matter in a logical sequence and in a simple, crisp language which can be easily read and appreciated by non-economic background readers as well. He provides deeper insights into many nations on why they had a spectacular growth during the last decade and why the commodity driven nations would find their growth rates cooling down in the coming decade. He observes and explains why South Korea was able to build global brands and its neighbor Taiwan was not so successful in that despite both countries having similar background and greater influence (under colonial rule) from Japan. He also shows why there is room for growth only in the top in Russia and how USA can be a come-back nation again.

Chapter titles, sub-headings, captions for accompanying photographs are very catchy and mostly borrowed from common wisdom, famous sayings make the book very interesting read.

Book Review: Walking with lions

Author of this book Natwar Singh held a wide range of positions in the Govt. of India beginning as an IFS officer to growing up to assume the position of a Foreign Minister in his career spanning more than three decades. He served Nehru, Indira, Rajeev, Sonia in different capacities and supported them in all kinds of situations. His loyalty to Nehru-Gandhi family was reciprocated and helped him raise the ranks swiftly. This book is a collection of 50 articles, basically author's experiences as a diplomat, and his interactions with a variety number of people from all corners of the world and all walks of life. Author had an unwavering respect for Indira Gandhi and disliking towards Morarji Desai for which he shows no inhibitions or hide them. 

This book would be a good read for those who want to know experiences of globe-trotting diplomats, and their nuances of life. While politicians fill most of this book, but yet other interesting personalities such as writer Nirad Choudhary, sadhu Chandraswami,  painter M F Hussain, film actors Nargis, Dev Anand also make their presence felt in the chapters dedicated for them.