Why Clinton would not have been a good choice

For all those people who are anguished because of Trump's victory and who are feeling deeply sorry for a 'deserving' Clinton, here's why Clinton wouldn't have been a good choice:

Her filliping stance
Trump has been accused of flip-flopping but Clinton's no different.
- She voted in favour of the War on Iraq and later she said she was against it.
- She was pro-Israel, then anti-Israel and now she's pro-Israel again
- She supported the Second Amendment rights of private gun holders and has also praised Australia's gun confiscation program.

NOTE:
- In 2008, she lied about being under a sniper fire with her daughter in Bosnia.
- "At this time, what difference does it make?" This is exactly what she, in the capacity of a government official, had said after a public blaming of the attack on the American Consulate where four Americans, including the Ambassador to Libya were killed in Benghazi.

The Controversial email scam
Setting up a private server and leaking confidential information and later taking responsibility, claiming in her defense that 'all other secretaries of state have done the same.' Responsible much?

Stance on Terrorism
So you think Trump is a threat to peace?
- Like mentioned before, she was in favour of the war on Iraq.
- In 2011, she claimed in an interview that Assad was a 'reformer'.
- Governments of Saudi Arabia and Qatar that have been keeping the ISIL alive, actually funded her campaign. What could the reason possibly be?

A 'deserving' first female president ?
All the self-proclaimed feminists out there, she is no ideal feminist.
- You accuse Trump for disrespecting women? Well, she defended a child rapist and 'laughed about it'.
- She rubbished all claims of sexual harassment , misogyny, etc against her dear husband and called all the victims 'trailer trash'. She even went so far as to threaten one of the victims in person.

Hillary Clinton has been sincerely involved in some very noble causes as well and her decades of experience in politics is commendable too but this doesn't mean we overlook her wrong side. It is indeed disappointing that the most developed democracy has still not got its first woman president and we were tis close.
But we do not want to compromise, right? Someday, we will have a lady standing for this post, hopefully Michelle Obama in 2020, and we will be proud of her.

(repost due to technical errors in the same post dated 10.11.2016)

Keeping the real festive spirit alive

All homes were embellished with scores of lamps. Every corner, every street was illuminated. From somewhere atop a hill, the entire city seemed to have donned a garb of glitter and light. The air resounded with the sound of crackers and fireworks. Within the homes, people engaged in elaborate rituals to pray to the Goddess of Wealth for prosperity. Fancy, many of them were consciously burning it up in flames outdoors. Perhaps people take symbolism literally and too seriously.
A festival to celebrate righteousness and goodness ends up being limited to a couple of days of splendor and gala. The prayers and rituals are just for the sake of following custom and tradition. How many do really understand the message or the lessons this occasion is trying to convey?
Again, in a few days, everyone will be back to one's doings with no change in conscience whatsoever. The fireworks, that gave immense pleasure to some eyes and ears; pleasure that I fail to understand, will only make the air around less fit for inhaling for weeks to come. Oh, and boycott Chinese goods they say. What a brilliant idea to disrupt the Chinese economy by bringing a 40% dip in cracker sales for one day! Kudos to our rationale!

Is this festivity? Or a colourful farce? All the sparkle and shimmer is absolutely fine and in fact must for celebration but it's wasteful and meaningless if we fail to celebrate the very spirit this festival is for. Diwali, is a happy celebration, a chance, a day that helps us make a good beginning by inspiring us to ablute our souls of negativity. To lighten the dark and ignorant minds of ours. To spread light in lives of those who have been living in a darkness of deprivation, discrimination, injustice and perennial gloom.

This diwali, celebrate the good in you and burn the evil that misguided you. It's never too late to repent or make changes. Any other day is just as good but this festive and positive energy could just make it easier.

71 years of the UNO

UN at 71- 17 Goals.

Humanity has entered the era of sustainability – with a global commitment to fulfill the great promise of the 2030 Agenda for Sustainable Development.

On its 71st Anniversary, the UN identifies 17 simple steps to a better life on a healthier planet. These include donating, preserving, conserving and sharing of resources.

In its seven decades of existence, has the UNO really served its purpose?

Its various agencies can boast of having eradicated smallpox, getting more than 50% of the children in the world vaccinated, protecting human rights, preserving world heritage sites, having countries comply with several treaties and regulations to control climate change, prosecuting dictators like Charles Taylor and Milosevic for war crimes, etc.

However, the greater evils disrupting world peace are yet to be dealt with. The UNO, as of now, has failed to control the tumorous spread of the ISIS and other terrorist outfits. The very infamous genocide of Rwanda and the massacres in Serbrenica and Bosnia are examples of its failure to act as an organisation for maintaining international peace. 
The stagnant structure of most UN bodies, especially the Security council needs democratization. The P-5 have been permanent for way too much time now and it's time Africa, South America and Asia have their fair share of representation in the SC. Also, the use of veto needs to be regulated to prevent misuse as witnessed at the hands of China a few days back.

At least all the developing countries, if not all, should in effect press for reforms in the UN in order to ensure it exists as a relevant organisation in the coming years.

Garibi Hatao, Garib Nahi

In 1993, the UNO declared October 17 as the International Day for Eradication of Poverty. The theme for this year is 'Moving from humiliation and exclusion to participation:ending poverty in all its forms'. (hence the title xD)

For decades now, poverty has been a vicious complex web owing to economic as well as socio-cultural shortcomings. One-tenth of the world's population is below the International Poverty Line. In India, poverty is one of the major three challenges to economic development, the other two being illiteracy and excess population.  A staggering 21.9 %, that is. more than one-fifth of the population (approx. 340 million) comes under the BPL (Below Poverty Line) category. This also implies that the current number of poor people in our country exceeds the total population in 1947!

Poverty is a result of various factors like illiteracy, unemployment, economic crises and excess population. Hence, it can be dealt with only at a macro level. Though all the poverty alleviation programmes and public welfare schemes are quite helpful in overcoming the challenge, some crucial changes in monetary and financial policies are also required. A very essential goal being just distribution of income and wealth. Here, governments around the world face a dilemma- how to reduce debts and deficits and support development, growth and employment as anxious financial markets rattle the global economy. A similar challenge is ensuring fiscal sustainability while reducing inequality.

To ensure an equitable distribution of income and wealth, progressive taxation is one of the most emphasized solution. Tax and spending side of the equation should be viewed as a whole. Like,Value Added Taxes. These are not necessarily re-distributive in themselves but can be used effectively and efficiently to pay for spending to benefit the poor.

Income inequality is also exacerbated by tax evasion at the hands of the wealthy, who have greater opportunities for and benefits from tax evasion. Stringent laws against tax evasion are an equally important measure.

Also, there are a number of potential revenue sources that can contribute to both financial sustainability and improved equality:

1. Tax on Personal Income: Owing to weak administration in low-income countries, advanced economies are better able to use this tax in general, and rely on it for re-distributive effects through progressive rates. As supported by empirical evidence, fears that progressive rates will lead to labor migration are generally overstated.

2. Taxation of natural resources: They are sources of location specific rent. Taxing such rent is efficient and avoids the economic distortions arising from other factors of production.

3. Property Taxes: These are under-utilized in most of the countries. Low income economies specially have room to increase revenue from this source as incomes rise.

Poverty is not merely an economic problem, it is also a social stigma. Class differences lead to dissatisfaction and disharmony. Poverty also compels many to resort to theft and robbery to sustain for necessities.It is the poor who are easily brainwashed by anti-national groups and engage in terrorist activities. Also, to ensure increased levels of awareness and political equality, it is first necessary to achieve economic equatibility because, of what use are rights to an empty stomach?

The Man with Wings of Fire

A humble glint,
through winds of time and toil,
from The Luminous Sparks,
flared to form an inferno.
Rising with an Indomitable Spirit,
through troubled Turning Points,
a spark that Ignited Minds,
brought a Transcendence of Inspiring Thoughts.
Alas, all that now remains is but a vestige
of its romanticist rage for the high skies.
In spite of the cold and dampness
that now surrounds,
it will be reignited.
For O spark, You are Born To Blossom,
born to bring a Manifesto For Change,
born to scintillate Thoughts of Change,
with your blazing Wings of Fire.

Remembering our beloved late Dr. A.P.J Abdul Kalam
(15.10.2016) 

ELECTIONS IN DELHI UNIVERSITY

The Delhi University Student Union (DUSU) elections are due on Friday, September 9, 2016.
Many people are of the opinion, that student elections are a waste of time, energy and money and that they do not guarantee a stable political career most of the times. However, as of late, the nature of these elections has changed for good and is improving every year. As far as DU is concerned, we have some very dedicated intellectual candidates who work for the betterment of students in the University. And being a student, if you want to  see change or even righteously criticize the inefficacy of existing system, you have to be a part of it to bring the change you want to witness.

All the prospective candidates and organisations are campaigning voraciously. For the past one week, members of these organisations come to various colleges, declare their manifestos and previous achievements, distribute fliers and persuade people to vote in their favour. Some even try to maneuver public support in their favour by offering free movie tickets, discount vouchers, etc. Some heavily funded ones like the NSUI even offered to take students to so called 'fun n food villages'! If that is not a desperate attempt to practically bribe people, what is? Isn't it so similar to the tactics adopted by parties in 'larger-scale' elections?

At every corner in the campus, there is buzz regarding the elections. With NSUI almost out of the picture and SFI's ( Student Federation of India) perennial lack of adequate popular support, the prime competitors this time seem to be the AISA ( All India Students Union) and the ABVP ( Akhil Bhartiya Vidhyarthi Parishad).

AISA made an impressive move by having three women candidates in the panel of four. They also have been active in the protest against FYUP ( Four Year Undergraduate Programme) and  the recent CBCS (Choice Based Credit System) among other things, which very well is in their advantage.However, the recent infamous event involving accusation of rape against Anmol Ratan, a member of JNU AISA triggered mass fury. Given that AISA doesn't already have that strong a base in DU, this incident might have a negative impact on the faction of supporters it has.

ABVP, which forms the incumbent panel, is a strong contender. Apparently, it has a reputation of nurturing vandalism and hooliganism, but there must be much better reasons because of which it is the largest student organisation in the country and in the world, with roughly 3.2 million members!

Contrary to popular perception, ABVP is a highly self-funded organisation. It has sporadic nominal financial aide from the political organisations it is affiliated to. And as far as Delhi University is considered, ABVP has genuinely worked hard.
In almost 5-6 colleges, construction of new hostels have been commissioned; it was ABVP that 'cajoled' the protesting teachers of DUTA ( Delhi University Teachers Association) to start the long-delayed evaluation; it consistently persists the authorities for increasing the number of seats in colleges and hostels, etc.
The ABVP also encourages students to come forth with their grievances and quite surely, does look into the matters sincerely.

An innovative move during the elections this time, by some like-minded students of Miranda House, is the 'No Poster Party'. It seeks to protest against the littering of streets and the criminal wastage of paper, in the form of fliers and posters, during campaigning and wishes to promote paper-less campaigning.

The competition is in the air with all candidates giving invigorating speeches, groups shouting slogans, massive online campaigning, et al. Whose efforts bear fruit, we'll come to know after 48 hours.

Ind AS: Future of Financial Reporting

On 31 August 2016, the BRICS Chamber of Commerce and Industry (BRICS-CCI) organised a conference on Ind As: Future of Financial Reporting in the Indian Habitat Centre, New Delhi. The aim was to provide a platform for various Financial officers, Chartered accountants and other auditing professionals for a comprehensive deliberation on the introduction of a new accounting standard, the IFRS (International Financial Reporting Standards) or Ind AS (Indian Accounting Standards). The conference commenced with a brief welcome note by Mr. B.B.L. Madhukar, Secretary General of BRICS-CCI after which the Special Guest, Mr. Nilesh S. Vikamsey, Vice-Chairman of the Institute of Chartered Accountants of India (ICAI) addressed the gathering. Very eloquently, he expressed his views on the need, advantages, disadvantages, processes involved and probable challenges in the implementation of Ind AS. He talked about the systematic phase-wise execution of the new standard, the role of ICAI in this transition from the existing accounting standard Ind GAAP ( India-Generally Accepted Accounting Principles) to IFRS and called upon the industries to respond positively to the new standards.

Subsequently, an elaborate interactive session with the guests on the complex procedure of transition from the Ind GAAP to IFRS was conducted by Mr. Siddharth Talwar, Partner, Grand Thornton LLP, Mr. Amarjit Chopra, Senior partner, GSA & Associates and Mr. Keyur Dave, Director, GTI LLP, wherein all the major provisions in the new standards were extensively discussed. Comparison between current Ind GAAP and Ind AS, role of ICDS, carve outs in Ind AS, need for co-ordination between ICAI, NACAS and Industries were some points of discussion. The major topics under the IFRS that were talked on were:

1. Ind AS implementation roadmap and conversion process
2. Ind AS 1: Presentation of Financial Statements
3. Ind AS 16: Property, plant and equipment
4. Ind AS 17: Leases
5. Ind AS 109 and 32: Financial Instruments
6. Ind AS 18: Revenue
7. Ind AS 103: Business Combinations
8. Ind AS 101: First time adoption of Ind AS

Further, Professor Ambrish Gupta, FORE School of Mangement, talked about the Ind AS along with ICDS (Income Computation and Disclosure Standard) Tax, apprehensions of investors, concerns regarding effective execution on Ind AS and stressed on the need for “harmonization of all rules, regulations and standards for desired results”.
This was followed by a panel discussion on Ind AS, the panelists being Mr. Siddharth Talwar, Mr. Vijay Pal and Mr. Sumant Chadha, President, The Institute of Internal Auditors India. The enriching discusion covered issues like Fair Valuation, 'componentization' , Hedge accounting, possible changes in role of internal auditors in times to come, etc. Lastly, Chartered Accountant Gaurav Mittal shared his views on Taxation under the Ind AS regime.

Like the GST is to tax, IFRS is to accountancy. It will make book keeping more transparent and enhance the credibility of Indian Chartered Accountants abroad.(140 countries adhere to the IFRS including our neighbour Pakistan)

The IFRS was first introduced back in 2011 but due to stiff competition from industries and lack of adequate backing by the concerned ministries of the government, it could not be implemented. Hopes are, that it will finally receive a positive response in the coming financial year.