Last Updated : 22 February 2013 at 15:25 IST
One of the few things (as if there are no other things in the planet), that have always worried human beings is the apparition of an end-of-the-world theory.
Once a kindergarten student, I remember a friend of mine telling me in a shivering voice, “Daa..tomorrow, the world is coming to an end.” I did not understand it perfectly then (neither do I claim I understand it today).
Firstly, I assumed that our Head Mistress of the school is about to pay the KG section a visit. He said, “no, it is not like that...the 'world' is coming to an end.” He tried to shout at the top of his voice. “The world..world” he repeated.
My small and humble intellect could not still gather it..back then we had a small world, despite the fact that it had no boundaries!
[There were some or the other boundaries (“don't talk to strangers, or you will be kidnapped”was one of them), of course, but who could clip the wings of imagination back then? It took a 12 year school system to achieve that.]
Back in time, those were the times when the finance ministry too had boundaries; burden of socialism, forex controls, license raj, the list is endless...
Things can be a bit relaxed now as post-liberalisation India expanded its boundaries.
We began to hear about five figure salary drawn by techies. We began to hear about government budgets allocating tens of thousands of crores of rupees to defence. We heard about limitless potential of expansion in telecom (“unlimited”), mobile phone, Internet, data, computer...
In a positive correlation, the expansion of boundaries also led to expansion of aspirations:
Or why should the Solvent Extractor's Association of India would ask for Rs.1,000 crores per year for next three years to achieve visible impact on oilseeds production and productivity?
In the 2011-12 Budget, the Hon’ble Finance Minister had allotted Rs. 300 crores for expansion of area under Oil Palm cultivation. The SEA needs more of it.
A review and withdrawal of export duty of 10% on Deoiled Rice Bran or Tariff Revision for Refined Palm Oil & Other Oils is one of their other demands.
Ministry of Finance defreezed the tariff value on imported RBD Palmolein dated 31st July, 2012. However, the tariff value for other oils were left unchanged. By keeping the old tariff value for other oils has opened the floodgates and huge quantity of RBD Palm Oil has started getting imported into India, now since the tariff value of RBD Palmolein is much higher
The association also wants to be allowed imports of Copra Cake, Palm Kernel Cake & Rice Bran at ‘Nil’ Customs Duty. It also wants govt to impose import duty on CPO(10%) and RBD Palmolein and RBD Palm Oil (20%) to Protect Soybean & Mustard seed Farmer
If SEA can be so forthcoming, can Confederation of Indian Textile Industry be far behind?
It wants the optional duty regime for textile products to be continued with. The current stipulation of duty payment with the facility of cenvat credit or duty exemption without cenvat credit has been working well and has led to growth both in investments and production.
The duty on manmade fibres and their raw materials may be reduced to 8 percent from the current 12 percent. The mandatory duty of 12 percent on branded garments and made ups may be converted to 8 percent optional duty. Customs Duty and SAD on manmade fibres may be abolished and accumulated SAD may be refunded
It also wants customs duty on Titanium Dioxide (TIO2) and Spin Finish Oil may be reduced to 5 percent.
This is just a snapshot of two industries and their aspirations; now imagine the aspirations of all the million industries operating in India. Where would you stop?
Of course, we did not stop, the Kinter Garten kids that we are, we went out during the recess and made the best of it.
As for the end-of-the-world?
Well..we forgot that in two minutes time.
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