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Fuel prices will be raised a day after election results, says P Chidambaram

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Fuel prices will be raised a day after election results, says P Chidambaram

Former finance minister P Chidambaram tells Indivjal Dhasmana that the government has contained the petroleum prices due to the forthcoming assembly elections. But cutting the petroleum subsidy gives a signal that prices will rise and such signals were given by cuts in fertiliser and food subsidies too, he says. Edited excerpts

Our problem is not lack of capital. Our problem is lack of jobs. In India, unemployment is at a very high level. The urban unemployment rate is about 8.2 per cent. The rural unemployment rate is about 5.6 per cent, which is mostly because of the disguised unemployment. What we need are job-creating investments, not capital-intensive investments. We have abundant capital, we don’t have jobs. Therefore, I protest, I reject an approach which is based on capital-intensive investment.

I am not unhappy that they did not compress the fiscal deficit too much. This is the time when there must be fiscal liberalisation. You are reiterating that you will reach the four per cent fiscal deficit target in 2025-26, three years from today. If that is your goal, this compression of 0.5 percentage points for the next financial year is not sufficient. You will have to still compress about 2.5 percentage points in the remaining two years. How are you going to do that? For this year I am willing to live with 6.9 per cent of fiscal deficit.

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This is an unusual economic theory. So far I have heard every (RBI) governor, finance minister saying that if the government borrows too much from the market, it will crowd out private borrowings because the private sector will not have enough money to borrow in the market and even if money is available interest rates will be high. This is what we have heard for the last 20 years. Today, you turn it around on its head and say if the government borrows more, it will crowd in private investments. This is illogical. Either what you said for 20 years was wrong or what you say now is wrong. I think what you say now is wrong.

Absolutely wrong. People are suffering from high inflation today. WPI (inflation) has crossed 12 per cent and the CPI (inflation) is touching the upper limit of six per cent. This is not the time to cut subsidies when inflation is high, people have lost jobs, lost incomes and they are suffering because of the pandemic. Crude oil prices have touched $90 a barrel, so petroleum prices will normally rise. The government has contained it because of the elections. You take it from me petroleum prices will rise after the date of counting. You have a petroleum subsidy of Rs 6,517 crore in the current year and you are reducing it to Rs 5,813 crore in the next year. What is a signal? The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise. The same thing is with fertiliser. So what do they tell the farmers? Brace yourself, fertiliser prices are going to rise. There is the cruellest cut in the food subsidy. The current year subsidy is Rs 286,469 crore. You have cut it to Rs 206,831 crore, a cut of Rs 80,000 crore, about 40 per cent. What does that mean? Either you will reduce the ration quantity, which is difficult. Therefore you will increase the price.

I am not against wealth creation. I even support wealth accumulation because new wealth is new capital and new capital is new investment. The point is at what point wealth creation should stop. Put some ceiling, some cap somewhere. What is this Rs 53 trillion wealth for 142 people. This means Rs 37,000 crore is the average wealth (per person) of these 142 people. This will perhaps grow this year and next year. When will this stop? If there are so many wealthy people beyond our imagination, you should tap into that wealth.

A finance minister under Narendra Modi has nothing to do. The finance minister only has to read a speech drafted in the PMO. So you must tell me the finance minister under which prime minister?

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A finance minister under Manmohan Singh would in 2022-23 crafted a Budget which emphasises on three Ws — work: how do you create jobs; welfare: how do you reach out or make gestures or comfort people who have suffered in the last two years; wealth: how do you create wealth. All three Ws would have been balanced in a Manmohan Singh government’s Budget.

What they are saying is that five elections are around the corner. I would have normally been populist, this time I have restrained myself, I have not been populist. You want to congratulate the finance minister for not doing a wrong. You have to do the right thing if you need my congratulations.

Complete News Source : Business Standard

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Kunal Kemmu Reveals Crucial, Heartbreaking Struggle of Being Jobless

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Kunal Kemmu Reveals Crucial, Heartbreaking Struggle of Being Jobless

The glamour and glamour of Bollywood can mislead us to the hard, cold reality that lies behind the velvet curtains. We see the flashing cameras, beautiful attire, and thunderous ovation, but we rarely see a gifted artist’s quiet anguish as he waits for the phone call.

Recently, the immensely adaptable Kunal Kemmu shattered this shiny façade by revealing a terribly difficult period in his career. Despite his established acting talent and irresistible charm, the actor disclosed a heartbreaking truth that many in the creative business covertly face.

He openly discussed being unemployed for six months to a year. This devastating revelation serves as a sharp reminder that in the entertainment industry, success is dangerously transitory and rejection is an ever-present shadow.

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The Toxic Illusion of Industry Advice

When a picture fails to do well at the box office, the implications for an actor can be swift and severe. Kunal Kemmu described how a single project’s failure entirely halted his momentum, severing a blossoming career and leaving him stuck at home.

During this dark and alienating era, well-meaning strangers and business insiders raced to offer him advice. However, the nature of this advise emphasises the superficial, performance mentality that pervades the entertainment industry.

Instead of being told to improve his skills or patiently wait for a story that matched his talent, he was subjected to odd societal demands. People sincerely recommended him to hire aggressive public relations personnel, hold lavish parties, network tirelessly, and give expensive presents to key persons in order to remain relevant.


Rejecting the Performative Circus

For an actor who has always prioritised depth above theatrics, this trite counsel felt completely out of place. Kunal Kemmu said that, while such transactional approaches may work for some people, they do not accord with his underlying principles.

The strain to play an off-camera role can be just as stressful as presenting a complex character on stage. Kunal chose not to participate in the superficial lifestyle of mailing gifts or throwing fictitious gatherings only to get a film role.

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Instead of feeding a frantic public relations narrative, he chose to maintain his personal dignity while emphasising his artistic ability. This modest disregard of industry standards demonstrates the enormous mental strength required to endure the unpredictable nature of Indian cinema.


The psychological toll of being creative while unemployed is a significant problem that few celebrities openly mention. Kunal Kemmu did not hold back while recounting the extreme uneasiness and paralysing worry that overwhelmed him throughout his year-long forced leave.

When you are entirely out of employment, a corrosive loop of self-doubt will inevitably take over your head. The actor admitted to continually worrying if he’d ever get the opportunity to appear in front of a camera again.

This great vulnerability reveals a universal reality about the performing profession. Whether you are a famous superstar or a struggling newbie, the frightening unpredictability of the entertainment industry spares no one.

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The Actor’s Ultimate Dilemma

Aside from the emotional discomfort, a protracted lack of work throws an artist into a corner, posing a significant ethical quandary. Actors are constantly torn between waiting for high-quality scripts and accepting substandard assignments solely for financial survival.

Kunal Kemmu acknowledged the agonising struggle that most creative professionals undergo at certain stages in their careers. The fear of being forgotten by the public drives many artists to make significant compromises to their artistic integrity.

It takes a lot of patience and self-belief to say no to subpar job when your calendar is empty. Kunal’s tale demonstrates that following your intuition can be extremely painful but eventually beneficial.


Embracing the Ever-Changing Acts of Life

Today, Kunal Kemmu is experiencing a stunning professional renaissance, juggling acting commitments, hosting a major reality program, and celebrating directing success. Nonetheless, he remains delightfully grounded, acutely aware that the current spotlight is not certain to last forever.
Asian Horizon Network

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He sees his career as a long film that unfolds brilliantly through distinct acts, rather than a constant apex. This realistic viewpoint enables him to enjoy his current hectic schedule without getting arrogant or complacent.
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Kunal has brought consolation to other artists who are going through their own silent challenges by revealing his difficult period of unemployment. His narrative demonstrates that genuine genius does not require transactional gifts or contrived parties to achieve its proper position in the light.


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