Monday, March 9, 2009
Tuesday, February 24, 2009
Middle Class Values
Middle Class Values
Indian Middle Class comprises of 140 million households, if we simplistically equate middle class with middle-income households. (Annual income between Rs 71,000 to Rs 3 lacs)
Households with an annual income below Rs 71,000 are categorized as lower income ones, numbering 40 million.
Households with an annual income above Rs 3 lacs are categorized as the higher income ones, numbering 43 million.
(Figures are approximates as per a recent survey)
Few facts are important: -
.The Middle income Group is much larger than the combined number of the other two income categories.
•As India has rapidly progressed since 1990, there has been an upward shift from the lower income to middle income and from middle income to higher income households (population)
•Since the ‘Middle Class’ is very large, within this classification also there are sub classifications as per the income levels.
This large populace gives India a unique identity and marketers a large consumer base. Despite India’s diverse culture most of the MIDDLE CLASS VALUES are common across the country.
•The Middle Class is cautious, careful and conservative.
•While there is good literacy level and increasing awareness of the New World without Boundaries and Globalization, middle class would still like to preserve what they have.
•The family seniors have worked for most of their lives holding on to their dear jobs and hence are very pro Government Service.
•Stability and surety of income is very important to them.
•They have gone through the gradual cycle of acquisition of consumer durables and assets and believe in the same principle. (They worship on buying the first motorbike or small car and paint religious symbols on them!)
•They have learnt not to take good times for granted and would like to save and re-use.
•They use polythene covers on all new furniture items and the car seats, till the children force them to part with the same.
•They are great votaries of good education for their children but would still recommend Engineering and Medicines as the top professions.
•The younger population has started exploring new career options and a large percentage of urban youth are engaged in B.P.Os, Retail, Insurance and Telecom sectors. This has brought lot of disposable income in their hands and hence the ‘ Brand’ consciousness and the ‘Café’ culture.
•Parents are very proud of their working children and do fuel their aspirations, but are at best Cautiously Optimistic of their grand plans. (They are somewhat vary, lest the good times do not last)
•The Power of Prayer is held to be sacrosanct. Rituals, Customs and Mores are important. Festivals and Marriages are great occasions for the family get together (All somewhat diminishing in the urban areas)
•Opinion of the neighbors and social groups is still very powerful.
•Mothers will always eat after feeding the children and the husband. They would insist on handing over home made food Tiffin to the four or five figure salary earning children, who obviously are more comfortable in being seen to with the times and by ordering a Pizza or Burger. (This does not however faze the doting mothers)
•A study published some time back in India Today stated that children still spend maximum time at home and are deeply influenced by their parent’s opinions (Though none of the two generations would readily agree to this!).
•In a manner of speaking, parents are still their best friends!
•Marriages are made in heaven and are for life. Even the NRI children would mostly rely on their mother’s opinion for the best match (Though most of them will claim differently!)
•Home made remedies are used with greater faith than the allopathic medicines (Gargles for sore throat, Turmeric in milk for the hidden injury and Garlic for lowering B.P)
•While eating in a restaurant, they will order dishes that the family can share and think nothing of eating from each other’s plate.
Middle Class Values are shared Family Values, which are a great bonding factor. These are based on Pragmatism. They suggest Achievement and Consolidation rather than the Unsustainable Exponential Spiral. More Power to The Indian Middle Class.
Are you not proud to be an Indian
Indian Middle Class comprises of 140 million households, if we simplistically equate middle class with middle-income households. (Annual income between Rs 71,000 to Rs 3 lacs)
Households with an annual income below Rs 71,000 are categorized as lower income ones, numbering 40 million.
Households with an annual income above Rs 3 lacs are categorized as the higher income ones, numbering 43 million.
(Figures are approximates as per a recent survey)
Few facts are important: -
.The Middle income Group is much larger than the combined number of the other two income categories.
•As India has rapidly progressed since 1990, there has been an upward shift from the lower income to middle income and from middle income to higher income households (population)
•Since the ‘Middle Class’ is very large, within this classification also there are sub classifications as per the income levels.
This large populace gives India a unique identity and marketers a large consumer base. Despite India’s diverse culture most of the MIDDLE CLASS VALUES are common across the country.
•The Middle Class is cautious, careful and conservative.
•While there is good literacy level and increasing awareness of the New World without Boundaries and Globalization, middle class would still like to preserve what they have.
•The family seniors have worked for most of their lives holding on to their dear jobs and hence are very pro Government Service.
•Stability and surety of income is very important to them.
•They have gone through the gradual cycle of acquisition of consumer durables and assets and believe in the same principle. (They worship on buying the first motorbike or small car and paint religious symbols on them!)
•They have learnt not to take good times for granted and would like to save and re-use.
•They use polythene covers on all new furniture items and the car seats, till the children force them to part with the same.
•They are great votaries of good education for their children but would still recommend Engineering and Medicines as the top professions.
•The younger population has started exploring new career options and a large percentage of urban youth are engaged in B.P.Os, Retail, Insurance and Telecom sectors. This has brought lot of disposable income in their hands and hence the ‘ Brand’ consciousness and the ‘Café’ culture.
•Parents are very proud of their working children and do fuel their aspirations, but are at best Cautiously Optimistic of their grand plans. (They are somewhat vary, lest the good times do not last)
•The Power of Prayer is held to be sacrosanct. Rituals, Customs and Mores are important. Festivals and Marriages are great occasions for the family get together (All somewhat diminishing in the urban areas)
•Opinion of the neighbors and social groups is still very powerful.
•Mothers will always eat after feeding the children and the husband. They would insist on handing over home made food Tiffin to the four or five figure salary earning children, who obviously are more comfortable in being seen to with the times and by ordering a Pizza or Burger. (This does not however faze the doting mothers)
•A study published some time back in India Today stated that children still spend maximum time at home and are deeply influenced by their parent’s opinions (Though none of the two generations would readily agree to this!).
•In a manner of speaking, parents are still their best friends!
•Marriages are made in heaven and are for life. Even the NRI children would mostly rely on their mother’s opinion for the best match (Though most of them will claim differently!)
•Home made remedies are used with greater faith than the allopathic medicines (Gargles for sore throat, Turmeric in milk for the hidden injury and Garlic for lowering B.P)
•While eating in a restaurant, they will order dishes that the family can share and think nothing of eating from each other’s plate.
Middle Class Values are shared Family Values, which are a great bonding factor. These are based on Pragmatism. They suggest Achievement and Consolidation rather than the Unsustainable Exponential Spiral. More Power to The Indian Middle Class.
Are you not proud to be an Indian
All about interim Budgets - 2009-10
All about interim Budgets View as Slide Show | View Thumbnails
What's an interim Budget?
Independent India's first Budget presented on November 26, 1947 was an interim Budget!
An interim Budget or a vote-on-account becomes a must since Parliament's approval for drawing funds from the Consolidated Fund of India for meeting the expenses is usually obtained before the last day of the financial year - March 31.
All the interim Budgets tabled earlier have enabled the governments to continue incurring their obligatory expenditure until a regular Budget is passed by Parliament.
HIGHLIGHTS OF INTERIM BUDGT 2009-10
Presenting the interim Budget for 2009-10 in Lok Sabha, acting Finance Minister Pranab Mukherjee claimed in Parliament on Monday that every effort has been made to fulfil promises made to the common man.
Highlights of the Interim Budget 2009-10:
• The Gross Domestic Product increased by 7.5 per cent, 9.5 per cent, 9.7 percent and 9 per cent in the first four years from fiscal year 2004-05 to 2007-08 recording a sustained growth of over 9 per cent for three consecutive years for the first time. The growth drivers for the period were agriculture, services, manufacturing along with trade and construction.
• Fiscal deficit down from 4.5 per cent in 2003-04 to 2.7 per cent in 2007-08 and Revenue deficit from 3.6 per cent to 1.1 per cent in 2007-08.
• The domestic investment rate as a proportion of GDP increased from 27.6 per cent in 2003-04 to 39 per cent in 2007-08. Gross Domestic savings rate shot up from 29.8 per cent to 37.7 per cent during this period.
• The Gross capital formation in agriculture as a proportion of agriculture GDP increased from 11.1 per cent in 2003-04 to 14.2 per cent in 2007-08.
• The tax to GDP ratio increased from 9.2 per cent in 2003-04 to 12.5 per cent in 2007-08.
• Annual growth rate of agriculture rose to 3.7 per cent during 2003-04 to 2007-08. The foodgrain production recorded an increase of 10 million tonnes each year during this period and touched an all time high of 230 million tonnes in 2007-08.
• While manufacturing sector recorded growth of 9.5 per cent per annum in the period 2004-05 to 2007-08, communication and construction sectors grew at the rate of 26 per cent and 13.5 per cent per annum, respectively.
• Exports grew at an annual average growth rate of 26.4 per cent in US dollar terms in the period 2004-05 to 2007-08. Foreign trade increased from 23.7 per cent of GDP in 2003-04 to 35.5 per cent in 2007-08.
Outlook For The Year 2008-09
• Despite the global financial crisis which began in 2007 impacting most emerging market economies, 7.1 per cent rate of GDP growth in the current year makes India the second fastest growing economy in the world.
• Fallout of global slowdown on Indian economy were countered with fiscal stimulus packages announced on December 7, 2008 and January 2, 2009 providing tax relief to boost demand and increasing expenditure on public projects.
• Government accorded approval to 37 infrastructure projects worth Rs 70,000 crore from August, 2008 to January, 2009 alone.
• Under PPP mode, 54 Central Sector infrastructure projects with a project cost of Rs 67,700 crore given in-principal or final approval and 23 projects amounting to Rs 27,900 crore approved for viability gap funding in 2008-09.
• India Infrastructure Finance Company Ltd. (IIFCL) to refinance up to 60 per cent of commercial bank loans for PPP projects involving total investment of Rs 1,00,000 crore in infrastructure over the next eighteen months.
• In addition to RBI taking number of monetary easing and liquidity enhancing measures such as reduction in cash reserve ratio, statutory liquidity ratio and key policy rates, Government has taken specific measures which include extension of export credit for labour intensive exports, improving pre and post shipment credit availability, additional allocations for refund of Terminal Excise Duty/CST and export incentive schemes besides removal of export duty and export ban on certain items. A Committee of Secretaries set up to address procedural problems faced by exporters.
• Record US$ 32.4 billion FDI received in 2007-08 and notwithstanding financial uncertainty and slowdown, FDI inflows during April-November, 2008 were US$ 23.3 billion recording a growth of 45 per cent over the same period in 2007.
• FRBM targets for the current year and for fiscal 2009-10 relaxed to provide much needed demand boost. However, medium term objective is to revert to fiscal consolidation at the earliest.
Initiatives and Achievement
Agriculture
• Plan allocation for agriculture increased by 300 per cent from 2003-04 to 2008-09. Rashtriya Krishi Vikas Yojna launched in 2007-08 with an outlay of Rs 25,000 crore to increase growth rate of agriculture and allied sector to 4 per cent per annum during Eleventh Plan period.
• Agriculture credit disbursement increased three times from Rs 87,000 crore in 2003-04 to about Rs 2,50,000 crore in 2007-08.
• To strengthen short-term cooperative credit structure, revival package in 25 states involving financial assistance of about Rs 13,500 crore is being implemented.
• Interest subvention to be continued in 2009-10 to ensure that farmers get short term crop loans upto Rs 3 lakh at 7 per cent per annum.
• The Agricultural Debt Waiver and Debt Relief Scheme, 2008 was implemented by June 30, 2008 as scheduled. Debt waiver/debt relief amounting to Rs 65,300 crore covers 3.6 crore farmers.
• Despite higher procurement cost and higher international prices during the last 5 years, the central issue prices under Targeted Public Distribution System (TPDS) maintained at July, 2000 level in case of Below Poverty Line (BPL) and Antyodaya Anna Yojana (AAY) categories and at July, 2002 levels for Above Poverty Line (APL) category.
• Minimum Support Price (MSP) for common variety of paddy increased from Rs 550 per quintal in 2003-04 to Rs 900 per quintal for the crop year 2008-09. In case of wheat, increase was from Rs 630 per quintal in 2003-04 to Rs 1080 per quintal for the year 2009. Rural Development
• The corpus of Rural Infrastructure Development Fund (RIDF) increased from Rs.5,500 crore in 2003-04 to Rs 14,000 crore for the year 2008-09. A separate window for rural roads created with a corpus of Rs 4,000 crore for each of the last three years.
• As against 60 lakh houses to be constructed under Indira Awaas Yojana by 2008-09, 60 lakh twelve thousand houses constructed between 2005-06 to December, 2008.
• Panchayat Empowerment and Accountability Scheme (PEAIS) proposed to be expanded.
• 'Project Arrow' to provide new technology enabled services through post offices to common man and support effective implementation of social sector schemes like NREGS, while promoting financial inclusion.
Education
• Major initiatives including a new Centrally Sponsored Scheme launched to universalize education at secondary stage in the year 2008-09.
• Outlay on Higher Education increased 9 fold in the Eleventh Five Year Plan. Ordinance promulgated for establishing 15 Central Universities. In addition to 6 new Indian Institutes of Technology (IITs) in Bihar, Andhra Pradesh, Rajasthan, Orissa, Punjab and Gujrat which started functioning in 2008-09, two more IITs in Madhya Pradesh and Himachal Pradesh are expected to commence their academic session in 2009-10. 5 Indian Institute of Science Education and Research (IISER) announced earlier have become functional. 2 new schools of Planning and Architecture at Vijayawada and Bhopal have started functioning. Teaching is expected to commence from academic year 2009-10 in four out of six new Indian Institute of Management proposed for the Eleventh Plan in Haryana, Rajasthan, Jharkhand and Tamil Nadu.
• Due to revision in Educational Loan Scheme by the Government number of beneficiaries increased from 3.19 lakh to 14.09 lakh and amount of loan outstanding increased from Rs 4,500 crore as on March, 31, 2004 to Rs 24,260 crore as on September 30, 2008.
• 500 ITIs upgraded into centers of excellence. National Skill Development Corporation created in July, 2008 with initial corpus of Rs 1,000 crore.
Social Sector
• Authorised capital of National Safai Karamchari Finance and Development Corporation (NSKFDC) is being raised from Rs 200 crore to Rs 300 crore.
• Scope of the pre-metric scholarship for children of those engaged in unclean occupations expanded and rates of scholarship doubled in 2008-09. Annual ad-hoc grant increased by about 50 per cent as compared to earlier rates.
• Rashtriya Mahila Kosh to be strengthened by enhancing its authorized capital.
• 'Priyadarsini Project' a rural women's employment and livelihood programme will be implemented as pilot in the district of Madhubani and Sitamarhi in Bihar and Shravasti, Bahraich, Rai Bareli and Sultanpur in Uttar Pradesh.
• 146 lakh persons benefited under Indira Gandhi National Old Age Pension Scheme in the current financial year.
• Two new schemes � 'Indira Gandhi National Widow Pension Scheme' to provide pension of Rs 200 to widows between age groups of 40-64 years and 'Indira Gandhi National Disability Pension Scheme' to provide pension for severely disabled persons.
• Widows in the age group of 18-40 years to be given priority in admission to ITIs, Women ITIs and National/Regional ITIs for women. Government to bear cost of their training and provide stipend of Rs 500 per month.
• 22 States and Union Territories initiated process to implement Rashtriya Swasthya Bima Yojana for BPL familities in the unorganised sector and 60 lakh thirty two thousand persons covered for death and disability under 'Aam Admni' Bima Yojana (AABY). Public Sector Enterprises
• Turnover of Central Public Sector Enterprises increased from Rs 5,87,000 crore in 2003-04 to Rs 10,81,000 crore in 2007-08 and profits grew from Rs 53,000 crore to Rs 91,000 crore. While number of loss making enterprises came down from 73 in 2003-04 to 55 in 2007-08, number of profit making enterprises has gone up from 143 to 158 during the same period.
• Government approved implementation of Guidelines on Corporate Governance in Central Public Sector Enterprises (CPSEs) in June, 2007.
• Corpus of National Investment Fund created out of disinvestment proceeds from Central PSUs stood at Rs 1,815 crore as on December 31, 2008.
Financial Sector Reforms
• NPAs of Public Sector Banks declined from 7.8 per cent on March 31, 2004 to 2.3 per cent on March 31, 2008.
• As a result of initiating process of amalgamation and recapitalization of Regional Rural Banks (RRBs) with negative net worth, 196 RRBs merged into 85 RRBs. The Government has contributed Rs 652 crore for capitalization of RRBs upto December 31, 2008.
• Number of reforms undertaken in the last four years to deepen and widen the securities markets and strengthen the regulatory mechanisms for these markets.
• The Companies Bill, 2008, undertaking comprehensive revision of Companies Act, 1956 to enable adoption of internationally accepted best practices, has been introduced in the Parliament.
Tax Effort
• Comprehensive reforms of tax system both direct and the indirect tax system have enabled the tax administration to enhance its functional efficiency and provide better tax payer services leading to increased compliance. Rates of Union Excise Duties and Service Tax rationalized for eventual shift to the Goods and Service Tax on 1st April, 2010.
• 109 marine vessels sanctioned for the Customs Department to prevent movements of contraband goods across the country's sea borders.
Administrative Reforms
• The enactment of the Right to Information Act at the Centre and in many States ushering in greater accountability of the public servants.
• Recommendations of the Sixth Central Pay Commission approved by the Government has benefited over 45 lakh Central Government employees including Defence Forces and Para-Military forces and over 38 lakh pensioners.
Revised Estimates
• The total expenditure at Rs 7,50,884 crore in B.E. 2008-09 revised to Rs 9,00,953 crore in R.E. 2008-09 showing an increase of Rs 1,50,069 crore.
• Plan Expenditure gone up from Rs 2,43,386 crore in B.E. 2008-09 to Rs 2,82,957 crore in R.E. 2008-09.
• Non-Plan expenditure increased by Rs 1,10,498 crore in R.E. 2008-09 over B.E. 2008-09.
• Revised Estimate 2008-09 for Non-Tax Revenues increased from Rs 95,785 crore in Budget Estimate 2008-09 to Rs 96,203 crore.
• Revised Estimates of gross tax collection projected at Rs 6,27,949 crore as against B.E. 2008-09 of Rs 6,87,715 crore, primarily due to pro-active fiscal measures initiated to counter the impact of global slowdown on the Indian economy.
• Revised Revenue deficit to be at Rs 2,41,273 crore (4.4 per cent of GDP) as against budgeted figure of Rs 55,184 crore (1 per cent of GDP).
• Fiscal deficit to go up from Rs 1,33,287 crore (2.5 per cent of GDP) in B.E. 2008-09 to Rs 3,26,515 crore (6 per cent of GDP).
Budget Estimates
• Total expenditure for fiscal 2009-10 estimated at Rs 9,53,231 crore. Plan expenditure estimated at Rs 2,85,149 crore and Non-Plan expenditure at Rs 6,68,082 crore.
• Budgetary support in Plan B.E. 2009-10 in comparison to B.E. 2008-09 increased for Department of Rural Development, Department of Road Transport & Highways, Railways, Ministry of Power, Department of Industrial Policy and Promotion and Department of Information Technology to meet the requirements of rural and infrastructure development along with higher allocation for Ministry of Youth Affairs & Sports and Ministry of Culture to ensure adequate resources for hosting of the Commonwealth Games. Allocations to flagship programme which directly impact 'Aam Aadmi' fully protected.
• Rs.30,100 crore allocated for National Rural Employment Guarantee Scheme for the year 2009-10. In 2008-09 employment of 138.76 crore person days covering 3.51 crore household already generated.
• About 98 per cent habitations covered by primary schools under Sarva Shiksha Abhiyan. Allocation for this programme increased by 571 per cent between 2003-04 and 2008-09. Allocation of Rs 13,100 crore proposed for 2009-10.
• Rs 8,000 crore allocated for Mid-day Meals Scheme for the year 2009-10.
• Allocation of Rs 6,705 crore proposed for Integrated Child Development Scheme (ICDS) for the year 2009-10. New WHO child growth standards adopted for monitoring growth of children under ICDS.
• 386 projects amounting to Rs 39,000 crore sanctioned till December 31, 2008 under Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Allocation of Rs.11,842 crore proposed for the year 2009-10.
• Rs.7,400 crore allocated for Rajiv Gandhi Rural Drinking Water Mission, Rs 1,200 crore for Rural Sanitation Programme, Rs 12,070 crore for National Rural Health Mission, Rs 40,900 crore allocated for Bharat Nirman for the year 2009-10.
• A provision of Rs 100 crore in the Annual Plan 2009-10 made for Unique Identification Authority of India.
• RIDF-XV proposed with a corpus of Rs 14,000 crore. Separate window for rural roads to continue with a corpus of Rs 4,000 crore.
• Interest subvention of 2 per cent on pre and post shipment credit for certain employment oriented sectors i.e. Textiles (including handlooms & handicrafts), Carpets, Leather, Gem & Jewellery, Marine products and SMEs extended beyond March 31, 2009 till September 30, 2009 involving an additional financial outgo of Rs.500 crore.
• Government to recapitalize the public sector banks over the next two years to enable them to maintain Capital to Risk Weighted Assets Ratio (CRAR) of 12 per cent.
• Allocation for Defence increased to Rs 1,41,703 crore which includes Rs 54,824 for Capital Expenditure.
• Major subsidies including food, fertilizer and petroleum estimated at Rs 95,579 crore.
• For the fiscal 2009-10, with Centre's net tax revenue estimated at Rs 5,00,096 crore and Revenue expenditure at Rs 8,48,085 crore, revenue deficit is estimated at 4 per cent of GDP and fiscal deficit at 5.5 per cent of GDP.
What's an interim Budget?
Independent India's first Budget presented on November 26, 1947 was an interim Budget!
An interim Budget or a vote-on-account becomes a must since Parliament's approval for drawing funds from the Consolidated Fund of India for meeting the expenses is usually obtained before the last day of the financial year - March 31.
All the interim Budgets tabled earlier have enabled the governments to continue incurring their obligatory expenditure until a regular Budget is passed by Parliament.
HIGHLIGHTS OF INTERIM BUDGT 2009-10
Presenting the interim Budget for 2009-10 in Lok Sabha, acting Finance Minister Pranab Mukherjee claimed in Parliament on Monday that every effort has been made to fulfil promises made to the common man.
Highlights of the Interim Budget 2009-10:
• The Gross Domestic Product increased by 7.5 per cent, 9.5 per cent, 9.7 percent and 9 per cent in the first four years from fiscal year 2004-05 to 2007-08 recording a sustained growth of over 9 per cent for three consecutive years for the first time. The growth drivers for the period were agriculture, services, manufacturing along with trade and construction.
• Fiscal deficit down from 4.5 per cent in 2003-04 to 2.7 per cent in 2007-08 and Revenue deficit from 3.6 per cent to 1.1 per cent in 2007-08.
• The domestic investment rate as a proportion of GDP increased from 27.6 per cent in 2003-04 to 39 per cent in 2007-08. Gross Domestic savings rate shot up from 29.8 per cent to 37.7 per cent during this period.
• The Gross capital formation in agriculture as a proportion of agriculture GDP increased from 11.1 per cent in 2003-04 to 14.2 per cent in 2007-08.
• The tax to GDP ratio increased from 9.2 per cent in 2003-04 to 12.5 per cent in 2007-08.
• Annual growth rate of agriculture rose to 3.7 per cent during 2003-04 to 2007-08. The foodgrain production recorded an increase of 10 million tonnes each year during this period and touched an all time high of 230 million tonnes in 2007-08.
• While manufacturing sector recorded growth of 9.5 per cent per annum in the period 2004-05 to 2007-08, communication and construction sectors grew at the rate of 26 per cent and 13.5 per cent per annum, respectively.
• Exports grew at an annual average growth rate of 26.4 per cent in US dollar terms in the period 2004-05 to 2007-08. Foreign trade increased from 23.7 per cent of GDP in 2003-04 to 35.5 per cent in 2007-08.
Outlook For The Year 2008-09
• Despite the global financial crisis which began in 2007 impacting most emerging market economies, 7.1 per cent rate of GDP growth in the current year makes India the second fastest growing economy in the world.
• Fallout of global slowdown on Indian economy were countered with fiscal stimulus packages announced on December 7, 2008 and January 2, 2009 providing tax relief to boost demand and increasing expenditure on public projects.
• Government accorded approval to 37 infrastructure projects worth Rs 70,000 crore from August, 2008 to January, 2009 alone.
• Under PPP mode, 54 Central Sector infrastructure projects with a project cost of Rs 67,700 crore given in-principal or final approval and 23 projects amounting to Rs 27,900 crore approved for viability gap funding in 2008-09.
• India Infrastructure Finance Company Ltd. (IIFCL) to refinance up to 60 per cent of commercial bank loans for PPP projects involving total investment of Rs 1,00,000 crore in infrastructure over the next eighteen months.
• In addition to RBI taking number of monetary easing and liquidity enhancing measures such as reduction in cash reserve ratio, statutory liquidity ratio and key policy rates, Government has taken specific measures which include extension of export credit for labour intensive exports, improving pre and post shipment credit availability, additional allocations for refund of Terminal Excise Duty/CST and export incentive schemes besides removal of export duty and export ban on certain items. A Committee of Secretaries set up to address procedural problems faced by exporters.
• Record US$ 32.4 billion FDI received in 2007-08 and notwithstanding financial uncertainty and slowdown, FDI inflows during April-November, 2008 were US$ 23.3 billion recording a growth of 45 per cent over the same period in 2007.
• FRBM targets for the current year and for fiscal 2009-10 relaxed to provide much needed demand boost. However, medium term objective is to revert to fiscal consolidation at the earliest.
Initiatives and Achievement
Agriculture
• Plan allocation for agriculture increased by 300 per cent from 2003-04 to 2008-09. Rashtriya Krishi Vikas Yojna launched in 2007-08 with an outlay of Rs 25,000 crore to increase growth rate of agriculture and allied sector to 4 per cent per annum during Eleventh Plan period.
• Agriculture credit disbursement increased three times from Rs 87,000 crore in 2003-04 to about Rs 2,50,000 crore in 2007-08.
• To strengthen short-term cooperative credit structure, revival package in 25 states involving financial assistance of about Rs 13,500 crore is being implemented.
• Interest subvention to be continued in 2009-10 to ensure that farmers get short term crop loans upto Rs 3 lakh at 7 per cent per annum.
• The Agricultural Debt Waiver and Debt Relief Scheme, 2008 was implemented by June 30, 2008 as scheduled. Debt waiver/debt relief amounting to Rs 65,300 crore covers 3.6 crore farmers.
• Despite higher procurement cost and higher international prices during the last 5 years, the central issue prices under Targeted Public Distribution System (TPDS) maintained at July, 2000 level in case of Below Poverty Line (BPL) and Antyodaya Anna Yojana (AAY) categories and at July, 2002 levels for Above Poverty Line (APL) category.
• Minimum Support Price (MSP) for common variety of paddy increased from Rs 550 per quintal in 2003-04 to Rs 900 per quintal for the crop year 2008-09. In case of wheat, increase was from Rs 630 per quintal in 2003-04 to Rs 1080 per quintal for the year 2009. Rural Development
• The corpus of Rural Infrastructure Development Fund (RIDF) increased from Rs.5,500 crore in 2003-04 to Rs 14,000 crore for the year 2008-09. A separate window for rural roads created with a corpus of Rs 4,000 crore for each of the last three years.
• As against 60 lakh houses to be constructed under Indira Awaas Yojana by 2008-09, 60 lakh twelve thousand houses constructed between 2005-06 to December, 2008.
• Panchayat Empowerment and Accountability Scheme (PEAIS) proposed to be expanded.
• 'Project Arrow' to provide new technology enabled services through post offices to common man and support effective implementation of social sector schemes like NREGS, while promoting financial inclusion.
Education
• Major initiatives including a new Centrally Sponsored Scheme launched to universalize education at secondary stage in the year 2008-09.
• Outlay on Higher Education increased 9 fold in the Eleventh Five Year Plan. Ordinance promulgated for establishing 15 Central Universities. In addition to 6 new Indian Institutes of Technology (IITs) in Bihar, Andhra Pradesh, Rajasthan, Orissa, Punjab and Gujrat which started functioning in 2008-09, two more IITs in Madhya Pradesh and Himachal Pradesh are expected to commence their academic session in 2009-10. 5 Indian Institute of Science Education and Research (IISER) announced earlier have become functional. 2 new schools of Planning and Architecture at Vijayawada and Bhopal have started functioning. Teaching is expected to commence from academic year 2009-10 in four out of six new Indian Institute of Management proposed for the Eleventh Plan in Haryana, Rajasthan, Jharkhand and Tamil Nadu.
• Due to revision in Educational Loan Scheme by the Government number of beneficiaries increased from 3.19 lakh to 14.09 lakh and amount of loan outstanding increased from Rs 4,500 crore as on March, 31, 2004 to Rs 24,260 crore as on September 30, 2008.
• 500 ITIs upgraded into centers of excellence. National Skill Development Corporation created in July, 2008 with initial corpus of Rs 1,000 crore.
Social Sector
• Authorised capital of National Safai Karamchari Finance and Development Corporation (NSKFDC) is being raised from Rs 200 crore to Rs 300 crore.
• Scope of the pre-metric scholarship for children of those engaged in unclean occupations expanded and rates of scholarship doubled in 2008-09. Annual ad-hoc grant increased by about 50 per cent as compared to earlier rates.
• Rashtriya Mahila Kosh to be strengthened by enhancing its authorized capital.
• 'Priyadarsini Project' a rural women's employment and livelihood programme will be implemented as pilot in the district of Madhubani and Sitamarhi in Bihar and Shravasti, Bahraich, Rai Bareli and Sultanpur in Uttar Pradesh.
• 146 lakh persons benefited under Indira Gandhi National Old Age Pension Scheme in the current financial year.
• Two new schemes � 'Indira Gandhi National Widow Pension Scheme' to provide pension of Rs 200 to widows between age groups of 40-64 years and 'Indira Gandhi National Disability Pension Scheme' to provide pension for severely disabled persons.
• Widows in the age group of 18-40 years to be given priority in admission to ITIs, Women ITIs and National/Regional ITIs for women. Government to bear cost of their training and provide stipend of Rs 500 per month.
• 22 States and Union Territories initiated process to implement Rashtriya Swasthya Bima Yojana for BPL familities in the unorganised sector and 60 lakh thirty two thousand persons covered for death and disability under 'Aam Admni' Bima Yojana (AABY). Public Sector Enterprises
• Turnover of Central Public Sector Enterprises increased from Rs 5,87,000 crore in 2003-04 to Rs 10,81,000 crore in 2007-08 and profits grew from Rs 53,000 crore to Rs 91,000 crore. While number of loss making enterprises came down from 73 in 2003-04 to 55 in 2007-08, number of profit making enterprises has gone up from 143 to 158 during the same period.
• Government approved implementation of Guidelines on Corporate Governance in Central Public Sector Enterprises (CPSEs) in June, 2007.
• Corpus of National Investment Fund created out of disinvestment proceeds from Central PSUs stood at Rs 1,815 crore as on December 31, 2008.
Financial Sector Reforms
• NPAs of Public Sector Banks declined from 7.8 per cent on March 31, 2004 to 2.3 per cent on March 31, 2008.
• As a result of initiating process of amalgamation and recapitalization of Regional Rural Banks (RRBs) with negative net worth, 196 RRBs merged into 85 RRBs. The Government has contributed Rs 652 crore for capitalization of RRBs upto December 31, 2008.
• Number of reforms undertaken in the last four years to deepen and widen the securities markets and strengthen the regulatory mechanisms for these markets.
• The Companies Bill, 2008, undertaking comprehensive revision of Companies Act, 1956 to enable adoption of internationally accepted best practices, has been introduced in the Parliament.
Tax Effort
• Comprehensive reforms of tax system both direct and the indirect tax system have enabled the tax administration to enhance its functional efficiency and provide better tax payer services leading to increased compliance. Rates of Union Excise Duties and Service Tax rationalized for eventual shift to the Goods and Service Tax on 1st April, 2010.
• 109 marine vessels sanctioned for the Customs Department to prevent movements of contraband goods across the country's sea borders.
Administrative Reforms
• The enactment of the Right to Information Act at the Centre and in many States ushering in greater accountability of the public servants.
• Recommendations of the Sixth Central Pay Commission approved by the Government has benefited over 45 lakh Central Government employees including Defence Forces and Para-Military forces and over 38 lakh pensioners.
Revised Estimates
• The total expenditure at Rs 7,50,884 crore in B.E. 2008-09 revised to Rs 9,00,953 crore in R.E. 2008-09 showing an increase of Rs 1,50,069 crore.
• Plan Expenditure gone up from Rs 2,43,386 crore in B.E. 2008-09 to Rs 2,82,957 crore in R.E. 2008-09.
• Non-Plan expenditure increased by Rs 1,10,498 crore in R.E. 2008-09 over B.E. 2008-09.
• Revised Estimate 2008-09 for Non-Tax Revenues increased from Rs 95,785 crore in Budget Estimate 2008-09 to Rs 96,203 crore.
• Revised Estimates of gross tax collection projected at Rs 6,27,949 crore as against B.E. 2008-09 of Rs 6,87,715 crore, primarily due to pro-active fiscal measures initiated to counter the impact of global slowdown on the Indian economy.
• Revised Revenue deficit to be at Rs 2,41,273 crore (4.4 per cent of GDP) as against budgeted figure of Rs 55,184 crore (1 per cent of GDP).
• Fiscal deficit to go up from Rs 1,33,287 crore (2.5 per cent of GDP) in B.E. 2008-09 to Rs 3,26,515 crore (6 per cent of GDP).
Budget Estimates
• Total expenditure for fiscal 2009-10 estimated at Rs 9,53,231 crore. Plan expenditure estimated at Rs 2,85,149 crore and Non-Plan expenditure at Rs 6,68,082 crore.
• Budgetary support in Plan B.E. 2009-10 in comparison to B.E. 2008-09 increased for Department of Rural Development, Department of Road Transport & Highways, Railways, Ministry of Power, Department of Industrial Policy and Promotion and Department of Information Technology to meet the requirements of rural and infrastructure development along with higher allocation for Ministry of Youth Affairs & Sports and Ministry of Culture to ensure adequate resources for hosting of the Commonwealth Games. Allocations to flagship programme which directly impact 'Aam Aadmi' fully protected.
• Rs.30,100 crore allocated for National Rural Employment Guarantee Scheme for the year 2009-10. In 2008-09 employment of 138.76 crore person days covering 3.51 crore household already generated.
• About 98 per cent habitations covered by primary schools under Sarva Shiksha Abhiyan. Allocation for this programme increased by 571 per cent between 2003-04 and 2008-09. Allocation of Rs 13,100 crore proposed for 2009-10.
• Rs 8,000 crore allocated for Mid-day Meals Scheme for the year 2009-10.
• Allocation of Rs 6,705 crore proposed for Integrated Child Development Scheme (ICDS) for the year 2009-10. New WHO child growth standards adopted for monitoring growth of children under ICDS.
• 386 projects amounting to Rs 39,000 crore sanctioned till December 31, 2008 under Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Allocation of Rs.11,842 crore proposed for the year 2009-10.
• Rs.7,400 crore allocated for Rajiv Gandhi Rural Drinking Water Mission, Rs 1,200 crore for Rural Sanitation Programme, Rs 12,070 crore for National Rural Health Mission, Rs 40,900 crore allocated for Bharat Nirman for the year 2009-10.
• A provision of Rs 100 crore in the Annual Plan 2009-10 made for Unique Identification Authority of India.
• RIDF-XV proposed with a corpus of Rs 14,000 crore. Separate window for rural roads to continue with a corpus of Rs 4,000 crore.
• Interest subvention of 2 per cent on pre and post shipment credit for certain employment oriented sectors i.e. Textiles (including handlooms & handicrafts), Carpets, Leather, Gem & Jewellery, Marine products and SMEs extended beyond March 31, 2009 till September 30, 2009 involving an additional financial outgo of Rs.500 crore.
• Government to recapitalize the public sector banks over the next two years to enable them to maintain Capital to Risk Weighted Assets Ratio (CRAR) of 12 per cent.
• Allocation for Defence increased to Rs 1,41,703 crore which includes Rs 54,824 for Capital Expenditure.
• Major subsidies including food, fertilizer and petroleum estimated at Rs 95,579 crore.
• For the fiscal 2009-10, with Centre's net tax revenue estimated at Rs 5,00,096 crore and Revenue expenditure at Rs 8,48,085 crore, revenue deficit is estimated at 4 per cent of GDP and fiscal deficit at 5.5 per cent of GDP.
Union Budget 2009: Highlights
Union Budget 2009: Highlights
• Budgetary support increased for Ministries of Rural Development, Road Transport & Highway, Power, Railways, Industrial Policy & Promotion and IT.
• Will return to FRBM targets when Economy is on track
• 15 point programme for welfare of minorities set up.
• Food, fertiliser and petroleum subsidies to go up
• Defence allocation hiked to Rs 141,703 cr
• Central planned expenditure hiked to Rs 2,82,957 cr
• Rs 8,300 cr allocated for mid-day meal scheme
• 2 per cent interest subvention for export credit.
• Rajiv Gandhi Rural Drinking Water Mission gets Rs 7,400 crore in 2009-10.
• Central plan increased for host of areas like telecom, rural development
• Flagship NREGA scheme gets Rs 30,100 crore in 2009-10
• Allocation for JNNURM programme raised to Rs 11,842 crore.
• Rs 13,100 cr earmarked for Sarva Shiksha Abhiyan
• Rs 4,900 cr allocation under Bharat Nirman
• Aim to increase job opportunities to 12 million/year
• Infrastructure investment to be raised to over 9 per cent of GDP.
• Budget estimate for expenditure 09-10 put at Rs 953,231 crore.
• NPAs for PSU banks falls to 7.3 per cent in 2008-09.
• 55 loss making PSUs against 73 when UPA took over.
• 2008-09 tax collection to exceed previous year
• Revised tax estimates at Rs 6.2 lakh crore against Rs 6.80 lakh crore.
• Rs 8,000 cr sanctioned for mid-day meal scheme during 2009-10.
• Total expenditures estimated at Rs 9.90 lakh crore versus Rs 7.50 lakh crore.
• FY09 revenue deficit 4.4% vs 1% estimate
• FY09 fiscal deficit @ 6% of GDP
• Tax collections down by Rs 60,000 cr over budget estimates for 2008-09
• Budget presentation resumes
• House adjourned for 10 minutes
• JDS MP Virender Kumar unwell
• Revised budget estimates 2008-09 increased to Rs 909,053 cr from Rs 750,884 cr.
• Distortions in tax structure have been reduced
• Rs 632 cr provided for recapitalisation of RRBs
• Significant improvement in health of PSU banks
• State run PSEs profit up 72 per cent in 2008-09.
• NPAs for PSU banks falls to 7.3 per cent in 2008-09
• PSU turnover up 84%
• Dividend contribution from PSUs increased by 86%
• 3.6 crore households gained from waiver
• Adhoc grants increased by 50%
• Pension schemes for widows, severely disabled launched
• 6 new IIMs to be operational by 2010
• 60.4 lakh houses constructed under Indira Awas Yojana during the year
• 2 more IITs in M.P. and Rajasthan
• Student loans increased from Rs 4,500 cr on March 31, 2004 to Rs 24,260 cr as on September 30, 2008
• Educational loan scheme revised
• Outlay for higher education hiked by 900%
• Govt's highest priority to rural sector
• Committed to ensuring food security
• Steps to bring back 9% growth needed
• Farm, SVCs, manufacturing are growth drivers
• FRBM targets relaxed to boost consumer demand
• Credit disbursement up three fold.
• Rs 13,500 cr agricultural revival package implemented in 25 states
• FDI inflows $23.3 bn in Apr-Nov up 45%
• Govt to consider more fiscal measures.
• Medium term target is to return to fiscal consolidation
• Debt waiver of Rs 65,300 cr till now.
• Agriculture credit disbursement has gone up
• Agriculture credit has been increased by three fold to Rs 2,50,000 crore
• Plan allocation to agriculture up 300%
• Employment generation schemes have to be expanded
• Need to revert to fiscal consolidation soon
• Extension of export credit for labour-intensive projects
• 37 infrastructure projects worth Rs 70,000 cr cleared
• Govt okayed 27 infrastructure projects between August 2008 - January 2009.
• In-principle nod for 50 infrastructure projects worth Rs 67,700 cr
• India Infrastructure Co to re-finance 60% of projects
• Inflation rate fell to 4.4% on Jan 31, 2009
• Revenue deficit cut from 3.6 per cent to 1.1 per cent
• Slow down in export growth to 17.1% for last 9 months
• Boost to public- private partnership projects through higher viability gap funding
• India second-fastest growing Economy @7.1% growth
• Agriculture annual growth rate 3.7%
• Farmers to get loans upto Rs 3 lakhs at 7%
• Investment as per cent of GDP rose to 29 per cent in 2007-08 from 27.6 per cent.
• Foreign trade at 35.5% of GDP
• Export growth at 26.4% annually in last 4 yrs
• Tax-GDP ratio at 12.5 per cent in 2007-08.
• Industrial production has fallen by 2 per cent
• India has weathered the Global crisis
• Global Economy will fare worse in 2009 than in 2008
• Export growth down to 17.1 per cent.
• Grain production encouraging for coming year
• Per capita income grew 7.4%
• Real heroes of our Economy are farmers
• Fiscal revenue down
• Average growth rate of agri @ 3.7%.
• Consistent 9% growth over three years
• Pranab begins Budget speech
• Pranab to present interim Budget at 11 am
• Pranab Mukherjee to present Union Budget
• Budgetary support increased for Ministries of Rural Development, Road Transport & Highway, Power, Railways, Industrial Policy & Promotion and IT.
• Will return to FRBM targets when Economy is on track
• 15 point programme for welfare of minorities set up.
• Food, fertiliser and petroleum subsidies to go up
• Defence allocation hiked to Rs 141,703 cr
• Central planned expenditure hiked to Rs 2,82,957 cr
• Rs 8,300 cr allocated for mid-day meal scheme
• 2 per cent interest subvention for export credit.
• Rajiv Gandhi Rural Drinking Water Mission gets Rs 7,400 crore in 2009-10.
• Central plan increased for host of areas like telecom, rural development
• Flagship NREGA scheme gets Rs 30,100 crore in 2009-10
• Allocation for JNNURM programme raised to Rs 11,842 crore.
• Rs 13,100 cr earmarked for Sarva Shiksha Abhiyan
• Rs 4,900 cr allocation under Bharat Nirman
• Aim to increase job opportunities to 12 million/year
• Infrastructure investment to be raised to over 9 per cent of GDP.
• Budget estimate for expenditure 09-10 put at Rs 953,231 crore.
• NPAs for PSU banks falls to 7.3 per cent in 2008-09.
• 55 loss making PSUs against 73 when UPA took over.
• 2008-09 tax collection to exceed previous year
• Revised tax estimates at Rs 6.2 lakh crore against Rs 6.80 lakh crore.
• Rs 8,000 cr sanctioned for mid-day meal scheme during 2009-10.
• Total expenditures estimated at Rs 9.90 lakh crore versus Rs 7.50 lakh crore.
• FY09 revenue deficit 4.4% vs 1% estimate
• FY09 fiscal deficit @ 6% of GDP
• Tax collections down by Rs 60,000 cr over budget estimates for 2008-09
• Budget presentation resumes
• House adjourned for 10 minutes
• JDS MP Virender Kumar unwell
• Revised budget estimates 2008-09 increased to Rs 909,053 cr from Rs 750,884 cr.
• Distortions in tax structure have been reduced
• Rs 632 cr provided for recapitalisation of RRBs
• Significant improvement in health of PSU banks
• State run PSEs profit up 72 per cent in 2008-09.
• NPAs for PSU banks falls to 7.3 per cent in 2008-09
• PSU turnover up 84%
• Dividend contribution from PSUs increased by 86%
• 3.6 crore households gained from waiver
• Adhoc grants increased by 50%
• Pension schemes for widows, severely disabled launched
• 6 new IIMs to be operational by 2010
• 60.4 lakh houses constructed under Indira Awas Yojana during the year
• 2 more IITs in M.P. and Rajasthan
• Student loans increased from Rs 4,500 cr on March 31, 2004 to Rs 24,260 cr as on September 30, 2008
• Educational loan scheme revised
• Outlay for higher education hiked by 900%
• Govt's highest priority to rural sector
• Committed to ensuring food security
• Steps to bring back 9% growth needed
• Farm, SVCs, manufacturing are growth drivers
• FRBM targets relaxed to boost consumer demand
• Credit disbursement up three fold.
• Rs 13,500 cr agricultural revival package implemented in 25 states
• FDI inflows $23.3 bn in Apr-Nov up 45%
• Govt to consider more fiscal measures.
• Medium term target is to return to fiscal consolidation
• Debt waiver of Rs 65,300 cr till now.
• Agriculture credit disbursement has gone up
• Agriculture credit has been increased by three fold to Rs 2,50,000 crore
• Plan allocation to agriculture up 300%
• Employment generation schemes have to be expanded
• Need to revert to fiscal consolidation soon
• Extension of export credit for labour-intensive projects
• 37 infrastructure projects worth Rs 70,000 cr cleared
• Govt okayed 27 infrastructure projects between August 2008 - January 2009.
• In-principle nod for 50 infrastructure projects worth Rs 67,700 cr
• India Infrastructure Co to re-finance 60% of projects
• Inflation rate fell to 4.4% on Jan 31, 2009
• Revenue deficit cut from 3.6 per cent to 1.1 per cent
• Slow down in export growth to 17.1% for last 9 months
• Boost to public- private partnership projects through higher viability gap funding
• India second-fastest growing Economy @7.1% growth
• Agriculture annual growth rate 3.7%
• Farmers to get loans upto Rs 3 lakhs at 7%
• Investment as per cent of GDP rose to 29 per cent in 2007-08 from 27.6 per cent.
• Foreign trade at 35.5% of GDP
• Export growth at 26.4% annually in last 4 yrs
• Tax-GDP ratio at 12.5 per cent in 2007-08.
• Industrial production has fallen by 2 per cent
• India has weathered the Global crisis
• Global Economy will fare worse in 2009 than in 2008
• Export growth down to 17.1 per cent.
• Grain production encouraging for coming year
• Per capita income grew 7.4%
• Real heroes of our Economy are farmers
• Fiscal revenue down
• Average growth rate of agri @ 3.7%.
• Consistent 9% growth over three years
• Pranab begins Budget speech
• Pranab to present interim Budget at 11 am
• Pranab Mukherjee to present Union Budget
Monday, February 16, 2009
Sand and Stone
Sand and Stone
A story tells that two friends were walking through the desert. During some point of the journey they had an argument, and one friend slapped the other one in the face. The one who got slapped was hurt, but without saying anything, wrote in the sand: "TODAY MY BEST FRIEND SLAPPED ME IN THE FACE."
They kept on walking until they found an oasis, where they decided to take a bath. The one, who had been slapped, got stuck in the mire and started drowning, but the friend saved him. After the friend recovered from the near drowning, he wrote on a stone: "TODAY MY BEST FRIEND SAVED MY LIFE."
The friend who had slapped and saved his best friend asked him, "After I hurt you, you wrote in the sand and now, you write on a stone, why?"
The other friend replied: "When someone hurts us, we should write it down in sand where winds of forgiveness can erase it away. But, when someone does something good for us, we must engrave it in stone where no wind can ever erase it."
LEARN TO WRITE YOUR HURTS IN THE SAND, AND TO CARVE YOUR BENEFITS IN STONE
A story tells that two friends were walking through the desert. During some point of the journey they had an argument, and one friend slapped the other one in the face. The one who got slapped was hurt, but without saying anything, wrote in the sand: "TODAY MY BEST FRIEND SLAPPED ME IN THE FACE."
They kept on walking until they found an oasis, where they decided to take a bath. The one, who had been slapped, got stuck in the mire and started drowning, but the friend saved him. After the friend recovered from the near drowning, he wrote on a stone: "TODAY MY BEST FRIEND SAVED MY LIFE."
The friend who had slapped and saved his best friend asked him, "After I hurt you, you wrote in the sand and now, you write on a stone, why?"
The other friend replied: "When someone hurts us, we should write it down in sand where winds of forgiveness can erase it away. But, when someone does something good for us, we must engrave it in stone where no wind can ever erase it."
LEARN TO WRITE YOUR HURTS IN THE SAND, AND TO CARVE YOUR BENEFITS IN STONE
Friday, February 13, 2009
A very touching story- Value of Mother
A very touching story!
-----~~~~~-----
My mom only had one eye. I hated her... she was such an
embarrassment. My mom ran a small shop at a flea market.
She collected little weeds and such to sell... anything
for the money we needed she was such an embarrassment..
There was this one day during elementary school.
I remember that it was field day, and my mom came. I was
so embarrassed.
How could she do this to me? I threw her a hateful look
and ran out. The next day at school..."Your mom only has
one eye?!" and they taunted me.
I wished that my mom would just disappear from this
world
so I said to my mom, "Mom, why don't you have the other
eye?! You're only going to make me a laughingstock. Why
don't you just die?" My mom did not respond. I guess I
felt a little bad, but at the same time, it felt good to
think that I had said what I'd wanted to say all this
time.
Maybe it was because my mom hadn't punished me, but I
didn't think that I had hurt her feelings very badly.
That night...I woke up, and went to the kitchen to get a
glass of water. My mom was crying there, so quietly, as
if she was afraid that she might wake me. I took a look
at her, and then turned away. Because of the thing I had
said to her earlier, there was something pinching at me
in the corner of my heart. Even so, I hated my mother
who
was crying out of her one eye. So I told myself that I
would grow up and become successful, because I hated my
one-eyed mom and our desperate poverty.
Then I studied really hard. I left my mother and came to
Seoul and studied, and got accepted in the Seoul
University with all the confidence I had. Then, I got
married. I bought a house of my own. Then I had kids,
too. Now I'm living happily as a successful man. I like
it here because it's a place that doesn't remind me of
my
mom. This happiness was getting bigger and bigger, when
someone unexpected came to see me "What?! Who's this?!"
...It was my mother...Still with her one eye. It felt as
if the whole sky was falling apart on me. My little girl
ran away, scared of my mom's eye.
And I asked her, "Who are you? I don't know you!!!" as
if
I tried to make that real. I screamed at her "How dare
you come to my house and scare my daughter! GET OUT OF
HERE! NOW!!!" And to this, my mother quietly answered,
"oh, I'm so sorry. I may have gotten the wrong address,"
and she disappeared. Thank good ness... she doesn't
recognize me. I was quite relieved. I told myself that I
wasn't going to care, or think about this for the rest
of
my life.
Then a wave of relief came upon me...one day, a letter
regarding a school reunion came to my house. I lied to
my
wife saying that I was going on a business trip. After
the reunion, I went down to the old shack, that I used
to
call a house...just out of curiosity there, I found my
mother fallen on the cold ground. But I did not shed a
single tear. She had a piece of paper in her hand.... it
was a letter to me.
She wrote:
My son...
I think my life has been long enough now. And... I won't
visit Seoul anymore... but would it be too much to ask
if
I wanted you to come visit me once in a while? I miss
you
so much. And I was so glad when I heard you were coming
for the reunion. But I decided not to go to the
school.... For you... I'm sorry that I only have one
eye,
and I was an embarrassment for you. You see, when you
were very little, you got into an accident, and lost
your
eye. As a mother, I couldn't stand watching you having
to
grow up with only one eye... so I gave you mine...I was
so proud of my son that was seeing a whole new world for
me, in my place, with that eye. I was never upset at you
for anything you did. The couple times that you were
angry with me. I thought to myself, 'it's because he
loves me.' I miss the times when you were still young
around me.
I miss you so much. I love you. You mean the world to
me.
My world shattered!!!
Then I cried for the person who lived for me? My MOTHER
!
-----~~~~~-----
My mom only had one eye. I hated her... she was such an
embarrassment. My mom ran a small shop at a flea market.
She collected little weeds and such to sell... anything
for the money we needed she was such an embarrassment..
There was this one day during elementary school.
I remember that it was field day, and my mom came. I was
so embarrassed.
How could she do this to me? I threw her a hateful look
and ran out. The next day at school..."Your mom only has
one eye?!" and they taunted me.
I wished that my mom would just disappear from this
world
so I said to my mom, "Mom, why don't you have the other
eye?! You're only going to make me a laughingstock. Why
don't you just die?" My mom did not respond. I guess I
felt a little bad, but at the same time, it felt good to
think that I had said what I'd wanted to say all this
time.
Maybe it was because my mom hadn't punished me, but I
didn't think that I had hurt her feelings very badly.
That night...I woke up, and went to the kitchen to get a
glass of water. My mom was crying there, so quietly, as
if she was afraid that she might wake me. I took a look
at her, and then turned away. Because of the thing I had
said to her earlier, there was something pinching at me
in the corner of my heart. Even so, I hated my mother
who
was crying out of her one eye. So I told myself that I
would grow up and become successful, because I hated my
one-eyed mom and our desperate poverty.
Then I studied really hard. I left my mother and came to
Seoul and studied, and got accepted in the Seoul
University with all the confidence I had. Then, I got
married. I bought a house of my own. Then I had kids,
too. Now I'm living happily as a successful man. I like
it here because it's a place that doesn't remind me of
my
mom. This happiness was getting bigger and bigger, when
someone unexpected came to see me "What?! Who's this?!"
...It was my mother...Still with her one eye. It felt as
if the whole sky was falling apart on me. My little girl
ran away, scared of my mom's eye.
And I asked her, "Who are you? I don't know you!!!" as
if
I tried to make that real. I screamed at her "How dare
you come to my house and scare my daughter! GET OUT OF
HERE! NOW!!!" And to this, my mother quietly answered,
"oh, I'm so sorry. I may have gotten the wrong address,"
and she disappeared. Thank good ness... she doesn't
recognize me. I was quite relieved. I told myself that I
wasn't going to care, or think about this for the rest
of
my life.
Then a wave of relief came upon me...one day, a letter
regarding a school reunion came to my house. I lied to
my
wife saying that I was going on a business trip. After
the reunion, I went down to the old shack, that I used
to
call a house...just out of curiosity there, I found my
mother fallen on the cold ground. But I did not shed a
single tear. She had a piece of paper in her hand.... it
was a letter to me.
She wrote:
My son...
I think my life has been long enough now. And... I won't
visit Seoul anymore... but would it be too much to ask
if
I wanted you to come visit me once in a while? I miss
you
so much. And I was so glad when I heard you were coming
for the reunion. But I decided not to go to the
school.... For you... I'm sorry that I only have one
eye,
and I was an embarrassment for you. You see, when you
were very little, you got into an accident, and lost
your
eye. As a mother, I couldn't stand watching you having
to
grow up with only one eye... so I gave you mine...I was
so proud of my son that was seeing a whole new world for
me, in my place, with that eye. I was never upset at you
for anything you did. The couple times that you were
angry with me. I thought to myself, 'it's because he
loves me.' I miss the times when you were still young
around me.
I miss you so much. I love you. You mean the world to
me.
My world shattered!!!
Then I cried for the person who lived for me? My MOTHER
!
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