Terminal 2,  the new integrated terminal at Mumbai's Chhatrapati Shivaji International Airport, was inaugurated by Prime Minister Manmohan Singh on Friday. With this, Mumbai joined Delhi, Hyderabad and Bangalore that have modern integrated terminals. Spread over 4.3 million sq feet, the imposing glass and granite terminal, seen as the GVK Group's showpiece project, will enhance passenger amenities, reduce immigration and security-check delays, apart from offering  wider shopping and dining options. The terminal will open for international passengers from February 12. The new terminal is also expected to give the Mumbai airport a revenue boost. In FY13, Mumbai International Airport Limited posted a revenue of Rs 1,478 crore and a net profit of Rs 155 crore.

Mumbai's T2 Off to a flying start

Business Standard

Nandan Nilekani's Unique Identification or Aadhar programme may have set him on the path of politics but, ironically, he suffered an identity crisis of sorts in Bangalore, the city from which he hopes to launch his political foray. Last weekend, security men stopped Nilekani at the entrance to the Bangalore Palace Grounds while he was trying to gain entry to Congress Vice-President Rahul Gandhi's interactive meeting with Young Talented Achievers to frame the Congress party manifesto. His efforts to explain to the security detail that he was the chairman of UIDAI went in vain. Finally, he had to ask Congress party functionaries to help him gain entry to the venue.

A unique identity crisis

Gujarat Chief Minister Narendra Modi has made no secret of his disdain for India's first prime minister, Jawaharlal Nehru - going so far as to say that it was the wish of every Indian's heart that Vallabhbhai Patel, rather than Nehru, had become prime minister in 1947, and that the fortunes of the country would have been completely different if he had. Given that, more than a few eyebrows were raised at a photograph (which can be accessed at http://www.narendramodi.in) that the Modi-for-prime minister campaign released earlier this month. It showed the Bharatiya Janata Party's prime ministerial candidate working on a cellphone in his office; but, on the wall behind him, was a small, instantly recognisable photograph of Nehru.

Picturing Nehru

How will the Aam Aadmi Party (AAP) fare in the upcoming general elections? Even psephologist Yogendra Yadav, a prominent member of AAP's think tank, cannot make a firm prediction. Asked his take, as a political scientist, on whether he sees his party emerge as the third-largest one in the Lok Sabha election or not, Yadav said with a laugh, "All my political science study is proving to be of no use. It is premature to say if this will be the case. All I can say right now is we are number one on the social networking sites!"

The science of politics

This refers to A K Bhattacharya's column "Participative democratic pangs" (Raisina Hill, January 13). Hordes of aggrieved citizens with basic existential problems at the janta durbar, defines the extent of a sad disconnect between the people and its government. Clearly, the citizen found himself alone in seeking reasonable quality of civic services to which he is entitled. The "highly experienced" administrators had allowed an entire system to be hijacked by lower minions and touts. The bureaucracy had given up on governance and it is they who must be squarely held responsible. If a civic backlash today is setting up rough times ahead for bureaucrats, one can only hope that this entire class is also able to ignite similar resurgence from within. They have adequate powers and protection, and do not have to seek further delegation from their political masters.R Narayanan  GhaziabadLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar M

Letters: Resurgence from within

This refers to K V Rao's letter "The roots of inflation" (January 13). Demographic trends in India, are indeed unique as compared to the ageing West, including advanced countries such as Japan, the US and Europe, and even China. And these are the studies quoted in the article "How monetary policy can help India regain its youth" (January 9). The Reserve Bank of India (RBI) needs to factor in these demographic considerations in framing the policy and articulate the reasons as to why just imitating the western framework and numbers of inflation targets are simply not appropriate for India. That will peg the expectations at the right levels in India and analysts abroad. In addition, RBI should initiate research studies, in-house and sponsored in universities, on the implications of young demographics on monetary policy to build more robust empirical evidence, especially applicable for emerging countries with less developed financial markets like that of India.Charan Singh  BangaloreLetter

Letters: Unique trends

This refers to Devangshu Datta's column "Kalashnikov, the trigger man" (Quantum Leap, January 10). The Soviet Union did not make precision products. The rare exceptions were in the defence sector. Soviets spent massive amounts towards defence production. The result was the construction of an atomic bomb, the first satellite launch, the first man in space and the more enduring, low tech, world's most omnipresent firearm: the AK-47. The AK-47 is utterly reliable in the kind of adverse conditions that soldiers face in battle, and it was easy to operate. With more than 100 million copies in circulation, it is the best-selling assault rifle of all time. During the Stalinist terror, the Kalashnikov family had been denigrated as "kulaks" and forcibly removed to western Siberia and their home was razed. Kalashnikov got help from another captured German arms designer, Hugo Schmeisser. Schmeisser had produced an early assault rifle (the Sturmgewehr) for the Germans. The AK-47 bore a spooky resem

Letters: AK-47's anatomy

Business Standard analyses one family's finances and suggests a suitable way forward

Case study

Making sense of the Nachiket Mor panel's suggestions

StatsGuru-13-January-2014

A price index for agri commodities: A Business Standard and Indicus Analytics initiative

Indicus price monitor

Can insurance be claimed in case of an accident caused due to drunken driving? In case of accidents arising out of drunken driving, the case is categorised as gross negligence and claims can be rejected. Not only claims for vehicle damage but those for third-party injury can also be rejected, if the company says the policy is void.How will the company know the reason behind an accident?Insurance companies will access police records on accidents.

Tipping point

Today, Mohan Jayaraman, MD, Experian Credit Information Company & Country Manager, Experian India, answers your questions

Debt Counselling: Mohan Jayaraman

Global recovery, internal shake-up have worked in tandem

The Murthy effect

No respite

With more than 80 people reportedly aspiring for the post of the chairman of the Pension Fund Regulatory and Development Authority (PFRDA), the joke among pension sector players is that the PFRDA chief's post is no different from an IIT entrance examination. A senior executive of a pension fund management company said the selection should be held in two phases, mains and advanced. And given the number of aspirants, he added, the government should also consider the possibility of holding an entrance test too!

A test for a chairman

The keenly-awaited first "Janta darbar" of the Aam Aadmi Party (AAP) with Delhi Chief Minister Arvind Kejriwal sitting outside the Delhi Secretariat along with his ministers to listen to public grievances was so chaotic that it had to be suspended mid-way. Overzealous aam janta climbed over barricades in their efforts to reach out to the CM, compelling security men to step in and whisk him away. Ironically, six months ago in an interview with Business Standard when it was suggested to him that such experiments in "direct democracy" were suitable for small republics such as Greece but not for a city as large as Delhi, Kejriwal had objected and insisted that it was "definitely workable." The new CM apologised for the chaos and spoke of better management next time.

Direct confusion

The Aam Aadmi Party seems to have a special affair with opinion polls. After going for referendums on issues starting from the name of the party to whether they should form the government with the support of the Congress in Delhi, the party admits that it now lacks the machinery and funds to conduct polls at a national level ahead of the Lok Sabha elections. When someone asked if the party could launch opinion polls on whether the people of the country want to see it in power, a senior party leader jokingly responded, "I request all of you to talk to your editors to conduct an effective poll in their newspapers...We have no money."

AAP's poll-itics

This refers to the editorial "BJP's strange brainwave" (January 10). A banking transaction tax cannot work in isolation. It can be introduced only alongside eliminating cash and enabling every citizen to transact through a bank account by means of mobile phone, smart cards and so on. It will entail the creation of massive technological infrastructure before such transactions can be considered. Having said that, such a transaction tax is not a bad concept at all. If it is levied at different rates for different slabs of transaction volume, the concerns of equity and regressiveness can be addressed. On cascading, isn't this in some way already happening and accepted in the form of the profit margin of the seller at every stage? So why should the cascading effect of a banking transaction tax be such blasphemy? If exports do seem to become uncompetitive because of the tax, exporters can be given a drawback to some extent.Kishor Kulkarni  MumbaiLetters can be mailed, faxed or e-mailed to:Th

Letters: What's so strange?

This refers to Charan Singh's article "How monetary policy can help India regain its youth"(January 9). The author's narration of demographic factors and their influence on inflation, interest rates and growth is quite innovative. But his reference to the role of monetary policy in containing inflation appears to be incorrect. While he rightly mentions about the supply side and political economy factors being responsible for raging inflation, his faith in the monetary policy's ability to control inflation appears to be little misplaced in the Indian context. The influence of the ageing and young population the on consumption patterns is a universal phenomenon, and not confined to India alone. When that is the case, it is better to focus on the roots of inflation. The monetary policy has implications on the savings-investment gap and the Reserve Bank of India can address this issue instead of directing the policy for taming inflation. It is very clear that if the unfettered freedom enjo

Letters: The roots of inflation

This refers to the report "RBI deputy guv appointment hits FinMin wall"(January 11). The message becomes disturbing when one realises that even on such a small issue, the finance ministry and the Reserve Bank of India (RBI), under the new leadership, are unable to sort out their differences. Transparency doesn't mean that everything should be done openly. The government should be credited for the fact that compared to other statutory bodies and public sector undertakings, RBI has been getting a fair deal in the selection and timely appointment of executives at the governor and deputy governors levels. When Raghuram Rajan was appointed Governor of RBI, this aspect was appreciated even by the media.The master-servant relationship that the finance ministry has been enforcing on organisations "owned" by the government, had not impaired the reputation of RBI in the public eye since governors have always given priority to national interest. Disputes between the government and RBI may force t

Letters: Institutional prestige

Arvind Kejriwal and the limits of radical accountability

Business Standard

Business Standard

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