Nuksaan-Faida Analysis = Cost-Benefit Analysis in Hindi/Urdu

I have published about a half dozen or more articles, mainly in The Statesman‘s Editorial Page, on the India-US Nuclear Deal, e.g. “Imperialism Redux”14 March 2006, “Towards an Energy Policy” 2 April 2006, “India’s Energy Interests” 27-28 August 2006,  “Need for Clarity”, 19 August 2007.  One of my main complaints has been that the Prime Minister and his acolytes seem to have failed to do a proper cost-benefit analysis of the whole thing.  The same currency-risk that made the Dabhol-Enron project instantly unviable is also faced a fortiori in the idea of importing nuclear fuel and reactors.  The Finance Minister and Finance Secretary who failed to calculate that currency risk in the former project, and hence caused its failure, have now failed again as PM and Planning Commission chief while advocating the latter project. Is the Indian rupee destined to depreciate in the long run?  Of course it is: just look at the long run trends and compare our money supply growth rates and inflation rates with those of the USA or EU.   The cost of imported nuclear power in India must be recalculated under different scenarios for the exchange-rate of the Indian rupee including e.g. a 20% depreciation.

It is not as if the Government of India is ignorant of what Cost-Benefit Analysis is supposed to be!  For example, look up

“*Ministry of Personnel, Public Grievances and Pensions* * *THE INDIAN ADMINISTRATIVE SERVICES (PROBATIONERS’ FINAL EXAMINATION) REGULATIONS, 1955* * *In pursuance of rule 7 of the Indian Administrative Service (Probation) Rules, 1954, the Central Government, in consultation with the State Governments and the Union Public Service Commission, hereby makes the following regulations, namely* *1. Short title:- These regulations may be called the Indian Administrative Service (Probationers’ Final Examination) Regulations, 1955.* *2. Definition:- 2(1) In these regulations, unless the context otherwise requires,-* *(a) `Academay’ (sic) means Lal Bahadur Shastri National Academy of Administration;* *(b) [ ];* *(c) `Director’ means the Director of the Academy; and * *(d) `Schedule’ means a Schedule appended to these regulations.* *2(2) All other words and expressions used in these regulations and not defined shall have the meanings respectively assigned to them in the Indian Administrative Service (Probation) Rules, 1954.* *3. Final examination.- 3(1) Every probationer shall, at or about the end of the period of training in the Academy appear at a final examination.* *3(2) The examination shall be conducted by the 4Director in the manner laid down in these regulations….4. PUBLIC ADMINSTRATION AND MANAGEMENT* *Essentials of Administration-Organisational Structure of Governments, Role of Civil Servants, Administrative Ethics and Accountability, Delegation and Decentralisation-District and Local Administration-Personal Administration, Police Administration-Jail Administration Panchayati Raj Administration- CalamityAdministration-Administration of Development and Welfare Programmes- Budget and Role of Audit and general financial principles-Role of District Officer/SDO-Conduct of Elections.* *Management and Organisation* *Behavioural Science Motivation, Leadership, Decision-Making, MBO, Management of Conflicts, Management of Change ,Transactional Analysis, -MIS-O&M & Work study-Pert-CPM, Time Management Methodology of Presentation of a subject-Financial Management Capital Budgeting, Discountal Cash Flow, Ratio Analysis, Project Formulation, Cost benefit Analysis, Project Evaluation Interpretation of Balance Sheets….”  (emphasis added)

How come there has been none with the India-US nuclear deal then?   I think we need a new more comprehensible term for Cost-Benefit Analysis, and that should be, most simply, its Hindi/Urdu equivalent: “Nuksaan-Faida Analysis”.

What is the estimated Nuksaan?

What is the estimated Faida?

How do they compare?  It all becomes so much easier!

Subroto Roy

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Sarat Chandra visits Surendranath Roy 1927

see also https://independentindian.com/2008/10/12/sarat-writes-to-manindranath-1931/

 

 

Sarat Chandra Chattopadhyaya (1876-1938) was one of India’s greatest literary geniuses and a marvellous novelist. This is a 1927 photograph of his visit to my great grandfather Surendranath Roy. There will be more about him here in due course.

Oddly enough, the sofa on which they sit has survived and is one of a set of four (much re-upholseterd) that we use daily today more than 80 years later!

The Roys of Behala 1928

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This is a 1928 photo of the male members of the Roy Family of Behala, south of Calcutta, along with the children. Adult women would have been behind an effective “purdah”. The bearded patriarch in the middle is my great grandfather, the Hon’ble Surendra Nath Roy (1860-1929), an eminent statesman of Bengal of his time  https://independentindian.com/2008/06/17/surendranath-roy-1860-1929/ (We did not know until recently he was present and badly injured, along with Ardeshir Dalal, by Bhagat Singh’s bomb thrown in the Central Legislative Assembly on 8 April 1929 during the Simon Commission deliberations. He died seven months later.)

Surendranth was the eldest son of Rai Bahadur Umbik Churn Rai (1827-1902). The Golden Book of India published at the time of the Victoria Jubilee said Umbik was the twelfth descendant of one Raja Gajendra Narayan Rai, Rai-Raian, a finance official under the Great Mughal Jahangir.

Surendra Nath’s second son, my grandfather, Manindranath Roy, is seated second from the right in the second row with spectacles and moustache.

The bright lad fourth from the left in the last row would grow up to be my father.


Surendranath Roy (1860-1929)


Surendranath Roy was my paternal great grandfather. He was an eminent statesman of his time, sometime President of the Bengal Legislative Council, and close political friend of CR Das who led the Indian National Congress before MK Gandhi. SN Roy was a pioneer of primary education, and a legislative expert on local and general public finance as well as the federal politics of his time, authoring books on the “Princely” States of Gwalior and Kashmir, and proposing the origins of what became the Rajya Sabha. He also protested the Salt Tax as early as 1918. SN Roy Road in Kolkata is named after him.  The first photograph is of him as a newly graduated advocate-at-law, the second may have been after his book on Gwalior was published in 1888.   He also gave the Tagore Law Lectures in 1905, on the subject of customary law; these are available at India’s National Library.  His friends included the academician Ashutosh Mukherjee and the scientist Jagdish Chandra Bose. His role in the development of the legislative process in Bengal after the Morley-Minto reforms will be described further here in due course, as will be his role as a pioneer of primary education.

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Postscript: We did not know until recently he was present and badly injured, along with Ardeshir Dalal, by Bhagat Singh’s bomb thrown in the Central Legislative Assembly on 8 April 1929 during the Simon Commission deliberations. He died seven months later.

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see also

Origins of India’s Constitutional Politics: Bengal 1913

Carmichael visits Surendranath, 1916

MK Gandhi, SN Roy, MA Jinnah in March 1919: Primary education legislation in a time of protest

Bengal Legislative Council 1921

Jaladhar Sen writes to Manindranath at Surendranath’s death, c. Nov-Dec 1929

Sarat Chandra visits Surendranath Roy 1927

The Roys of Behala 1928

Manindranath Roy 1891-1958

Two scientific Boses who should have but never won Nobels

Pre-Partition Indian Secularism Case-Study: Fuzlul Huq and Manindranath Roy

Life of my father, 1915-2012

“I’m on my way out”: Siddhartha Shankar Ray (1920-2010)

Manindranath Roy 1891-1958

My grandfather, Manindranath Roy (1891-1958) was a quiet enigmatic literary figure and artistic benefactor in Calcutta; he wrote very well and had excellent taste and manners (though was of foolish judgement in money and friends). This photograph is from about 1922 at Allahabad where he used to take his family on annual holiday. (The little boy to the left behind his mother would grow up to become my father.)

My grandfather is dressed in fine post-Edwardian fashion; at the time, his father, Surendranath Rai, was at the peak of his political career as first Deputy President and then President of the new Bengal Legislative Council. Surendranath was an orthodox Brahmin and chose never to wear Western-style suits and neck-ties, and he was thoroughly averse to the idea of dining with Europeans. Manindranath was the first to wear Western clothes, as well as to dine in Calcutta’s Western restaurants. There was tension between father and son due to such matters.

My grandfather came to visit us in Ottawa in May 1958, and here we are on a day’s outing to show him the sights. I recall it well though I was three years old. My mother had stayed home to arrange our meal.

Manindranath Roy died in Ottawa on September 3 1958, the first Hindu gentleman known to have done so, it was said; he had to be cremated in Montreal as no one was cremated in Ottawa back then.

There will be more of his eventful and interesting life here in due course. For example, he was a benefactor of Sarat Chandra Chattopadhyaya and many others including Uday Shankar, and he was a close friend and colleague at Grace and Co of Rabindranath Tagore’s son-in-law, Nagen Gangulee. Rabindranath apparently visited the Swaraj Party’s political meetings where Surendranath was an old friend of CR Das. Another close and respected friend of Surendranath’s was Jagdish Chandra Bose.

University of Hawaii Project on India’s Political Economy 1986-1992



University of Hawaii Project on India’s Political Economy 1986-1992

This is dated May 21 1989 and located at the University of Hawaii President’s House. Prof. Milton Friedman and the Indian Ambassador to the USA are wearing Hawaiian leis. The academic result of this project was the work Foundations of India’s Political Economy: Towards an Agenda for the 1990s edited by myself & WE James and published by Sage. The practical and political result was the origin of the 1991 Indian economic reform when the project manuscript in unpublished form reached Rajiv Gandhi through my hand on September 18 1990 at 10 Janpath New Delhi; the story of my encounter with Mr Gandhi has been told elsewhere here.

Map of Kashmir to Sinkiang 1944