Recently the Asian Development Bank located in Manila, like most other banks and investment funds worldwide, proclaimed its commitment to climate change mitigation and climate change adaptation.
When we do manual work and look after other living things, when we live and die as joyous workers using only our hands and bodies to engage with all other living things around us, we contribute to the ecological wealth of which all living things are a part.
Capitalism is lending money with interest and asking for the principle back. The money is created by private banks who keep a capital adequacy against which to lend. The voluntary Basel III norm is 8.35%. So, to lend Rupees 100 the bank needs Rupees 8.35 as equity in the bank. The Reserve Bank of India’s guidelines stipulate 10.35%. The terms and conditions on which to lend are entirely up to the bank.
There is a tendency in the national press to judge the political parties in Bihar on the basis of their caste composition. The argument is that the JD(U) is a good enough fit with the BJP because they both represent an alliance of the majority of the absolutely disadvantaged with the minority of the absolutely privileged.
Whilst NTPC is shifting to photovoltaic energy for purely commercial reasons across India, Bihar has 23480 MW of coal fired power in the pipeline. National Thermal Power Corporation (NTPC) and Indian Railways, Calcutta Electric Supply Corporation Limited, Abhijjit Group, Bihar State Electricity Board, Adhunik Group, Infrastructure Leasing & Financial Services Limited, Bihar State Power Holding Company Limited, Hindustan Power Projects, National Hydro Power Corporation are all behaving very irresponsibly indeed by promoting coal-fired power plants in Bihar.
Today Arun Jaitley, the Finance Minister of the BJP government at the Centre, is at the Life Insurance Corporation of India to launch a new Pension Policy for the elderly with 8% fixed rate of interest on a Policy costing Rs 7.5 lakhs.
The present Central Government, run by the Bharatiya Janata Party and Narendra Modi, is making so many mistakes in money policy that one can be sure they will lose the next Parliamentary elections; - unless of course the Hindutva propaganda machine trumps the common sense of the voters' every day experiences.
An article in IANS today raised the issue of the Indian electricity grid and the need to upgrade it to cope with new sources of electricity.
Recently Industries Minister Jai Kumar Singh announced that Bihar government plans to set up a 3,000 MW nuclear power plant at Rajauli in Nawada district.