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

A recent report suggested that funding agencies such as Japan International (JICA) had refused to extend loans for the construction of stormwater drains by Chennai Corporation, impacting projects in Thiruvottiyur, Manali and Madhavaram that involve investment of around Rs 1800 crore; also dropping plans altogether for some other neighbourhood projects.  

For long, multilateral lending institutions like the World Bank, IMF and bilateral donors like the KfW of Germany and JICA had traditionally been extending long term funding on soft terms for the development of such civic projects. Priorities have been changing for bilateral lenders, who now fund to more technology-oriented projects that would be of benefit to their industries. For instance, Japan International Cooperation Agency (JICA) has been extending large credit on soft terms for railway projects: Rs 10,000 crore for Chennai metro rail and Rs 3200 crore for the metro’s intelligent transport system. The bullet train project connecting Mumbai and Ahmedabad is to receive funding to the extent of Rs 88,087 crore.

The issue of borrowing huge sums for civic projects with no scope for foreign exchange earnings, requires re-think. Civic services are essentially offered by municipal corporations. But most corporations are run inefficiently with inadequate attention to resource mobilisation, sloppy execution of projects, leakages of revenues, delays, cost overruns and poor quality of works. Steep fall in the value of the rupee in relation to the dollar, euro or yen adds further insult to injury. The civic projects that do not generate revenues in foreign currency suffer the most by the depreciation of the rupee.

India, in terms of size, is expected to be the third largest in the next few years. The country has been extending handsome loans to several developing countries in Asia and Africa. It should strive to limit seeking funds from foreign institutions for meeting essential needs relating to technology upgradation, import of raw materials in short supply, capital equipment and the like and not for projects for which the country itself has indigenous capabilities. Simultaneously, there should be the striving for achieving self-sufficiency or near self-sufficiency in areas such as energy. The record  of the US over the last 20 years in achieving self-sufficiencies in oil and gas is worth emulating.



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