We have all read about this city. We have all seen this city on the silver screen. We have all heard about this city...but it's nothing like living in this city. The more time I spend here, the more amazed I get. It's the plurality of the city that amazes me. The existence of multiple realities and multiple histories characterizes this bustling, bursting city.
Take for example the name itself- Mumbai. The Shiv Sena government which was responsible for the change of name said it wanted to get rid of the colonial baggage, and so sometime in the mid nineties, by the stroke of a pen Bombay became Mumbai. And slowly the city started getting an all new identity. The Crawford Market became Jyotiba Phule Market, and the famous Victoria Terminus was given a new identity by Chhatrapati Shivaji.
But the emergence of a new identity has not erased an older history. So, the old Bombay exists side by side with the new Mumbai. BMC still remains BMC. Fried 'Bombay Duck' still remains the favored cuisine of the 'Mumbaikar'. The faithful Bombayite still waits patiently in serpentine queues to get a glimpse of Mumba Devi. And Mumbai’s politicos/socialites still want to be seen on Bombay Times.
If this is a reflection of the present, let's take a peek into the past. 'Bombay' came into existence with the arrival of the Portuguese in India. And its prominence can be attributed to Britain's love affair with this sea-side hamlet. If this is what official history suggests, popular belief says that this is the city of Mumba Devi. So, do these apparently contradictory histories trouble the denizens? No, it doesn't. For them one is a matter of fact, and the other is conviction of faith.
This city is fighting a losing battle against space. Everywhere you see, there are people...thousands of them, trying to get an extra inch. Everyday millions snugly fit into a few feet in the 'locals'. Look around and you'll see a pair of eyes staring at you. But loneliness is the first thing that strikes you when you set afoot in this city bursting at its seams. Everybody is stranded alone amongst millions, looking ...searching for a 'face' in a sea of faces.
Surprising? Perhaps not.
This city boasts of being home to India's richest. More than half of India's income tax collections come from this city. But in this city of billionaires, poverty runs amuck. Just step onto Senapati Bapat Marg (in Lower Parel), one of the busiest business districts in the city, and you'll find streets lined with uncountable people...fighting to get their piece of bread (or should I say 'pav'?)
It is this co-existence of opposites in apparent harmony, is what surprises me. And as time whizzes past me, this city slowly unfurls itself… It makes me wonder about myself, and poses a thousand questions, to which there are no (ir)‘rational’ answers.
Noida has been in the news for all the wrong reasons these days. After Nithari its the time for Jal Vayu Vihar (incidentally, Jal Vayu Vihar is in the vicinity of Nithari!) The murder of 14 year old Arushi Talwar, and Yam Prasad Banjade ( alias Hemraj) has rocked the nation. 'National' media seems to have gone into a frenzy. There is no doubt that this double murder is a crime of the most heinous nature, but its high time to analyse the frenzy that it has created.
This double murder has held the attention of the 'entire' nation thanks to vigilant reporting by 24X7 news channels and the multitude of newspapers. But the point in case is, why has this murder case been given so much attention? The answer probably lies in the economics of news dispersion.
The rise of the news industry is intricately linked to the astonishing growth story of the bourgeoisie in India. India's growth story has been fueled by the rise in consumption, and the middle class plays a significant role in that. On the other hand, the burgeoning news industry runs on ad-spot revenues. And yes, it is the middle class that buys the products advertised on television/papers. Thus, the middle class is, inevitably, the target audience of the News/Media Industry.
So where does the Noida double murder case fit into this jigsaw?
The murders have been in the spotlight because it features a family that is so typically 'middle class'. The murdered girl is one of 'our' kin. She could have 'our' own sister, daughter, friend. And this is why emotions get whipped, and the 'entire' nation (its a different matter that this 'entire' nation is only 35 crore strong)identifies with the victim and the victimised.
Murders have been rampant in the Hindi Heartland. The villages of Uttar Pradesh, Bihar and Madyha Pradesh witness,at least, one murder every single day. But why is the 'nation' unaware about them? Because the victim, 8 out of 10 times, is from the backward classes...is a Dalit...
'(S)he is not one of us'
And if the victim is not one of our kin it does not make economic sense for our mercenary media to devote precious airtime/newsprint to the crime. Because, they would not find viewers for such news, and without high TRPs/TAMs, Corporate India won't pay Crores for a 10 second spot on television or an inch in print.
This is not an attempt to vilify the media, or to reduce the significance of the crime committed in Noida. Rather its a reflection on the workings of an industry that claims high moral ground and proclaims to be the lone warrior against the evils of the society.
Oil's on the boil. Yes, this phrase is making headlines across channels over the past few months. Sometime back, it broke through the 100 Dollar mark and is all set to breach 150 Dollars in the near future (considering the rapid rise in Crude price in the month of May). Even the government is now considering a raise in the petrol and diesel prices to offset some of the losses that the Oil Marketing Companies are suffering.
Even if the rising price of Crude seems to be a gospel truth, it hides more than it reveals. A price rise, by simple economics, is the result of increased demand and the inability of supply to keep abreast. However, in the case of crude, it is not that simple.
All newspapers and channels keep on harping about Crude breaching important levels, but few tell you that the price being quoted, is the price at which the 'precious' commodity is being traded on the bourses, specifically, the NYMEX. Essentially, it's the price at which Crude 'Futures' are being traded. Although my more informed peers might argue, future trading, is nothing but gambling for the intelligent. It's basically quoting a price at which the particular commodity would trade in the future, and the inherent speculative nature of the transaction leads to a situation of artificial price rise. My informed peers would argue that there is no conclusive fact to support this theory, but a look at the mechanism (with some amount of common sense) would clearly reveal that the picture is a lot more murky.
The price rise in Crude, even according to my 'informed' peers and 'experts', has been most unnatural. Although there is no denying this fact that we are rapidly running out of this precious commodity, nothing in the recent past suggests that such a sudden rise is justified. Infact, International Energy Agency report suggests that in the world's largest market for oil, the demand has actually decreased. The USA is the largest consumer of Oil and oil products in the world, but due to an impending recession the demand has actually reduced. Infact, IEA has even revised its target for consumption of Oil in the USA. (Just to give an idea about the 'largeness' of this number- USA consumes more oil, than India and China combined) . The other oft stated reason for the rise in prices is the increased demand in China and India. Well, to be honest, the demand has increased and has increased significantly, but this is no surprise. Infact, the growth in demand has been in accordance to IEA estimates.
If the demand side story seems a bit surprising, the supply side tale is even more interesting. Oil production has 'increased' by a considerable amount and most of the oil wells are producing at peak capacity ( According to IEAs report current Oil Wells across the world are supposed to have peaked around 2006 and would continue to show peak production for a few years before the figures start to show a decline). OPEC is at peak production, and except for the Eurozone countries the rest of the world is producing more oil now than they ever did! (Just for the record...Eurozone's oil production is almost negligible)
So, is there any justification for Crude's northward trip? Is NYMEX the benchmark? Is future trading the right mechanism for price discovery? Probably not...probably yes. Probably this is the Crude Reality staring us in our face!
Yes! It's been a year. Now that is an achievement of some sorts! For a person who thought he wouldn't last for more than six months in this organisation, he has actually spent a year. And this year has been, to use a chiche, (Oh! I am so fond of cliches!), a 'steep learning curve'!
Yes, it has been a learning curve, albeit a bit different.
Working in a business channel, over the past 365 days I have come into contact with the stock markets almost every single day. Stock Markets are also known as Capital Markets which itself is an interesting name. Apart from the financial connotations of the word Capital, it also denotes a sense of being 'primary', and that states a lot about our stock markets. Yes, they have become the Primary mode of transaction in our country. And with the hullabaloo over the Sensex, this epithet is not unjustified. Every move the Sensex makes, is being followed by hundreds of devotees. So much so that it has spurned atleast 4 exclusive media channels, and this is not taking into account the hourly market updates on numerous general news channels, or the multitude of newspapers. It is this phenomenon that has caught my attention. Call it the Stock syndrome, or anything else ,this is the subject of my interest. This is my learning curve, or should I say a learning hole.
What is the basis of this obsession? Why does the rise and fall of a curve the reason of such emotional responses? Why do news channels go ballistic when the Sensex touches the 21,000 mark, and why do they go into a condolence mode when it crashes a thousand points?
Are there any answers? I doubt there are, but I can offer an explanation. Inspite of waht my learned colleagues might claim, 'trading' is no better than organised betting. Companies worth a crore have been valued at 40 times their asset by the Market. It is mere speculation that drives share prices northwards. And speculation is an integral part of our 'Capital Markets'. The channels with their numerous gurus make their living speculating.
Isn't speculation also a part of betting? How is quoting a target price for a particular stock different from betting on a number for huge returns? It is this inherent characteristic that drives investors crazy and the cause for such emotional outbursts?
And this is what spurns me.
Ever since its inception only 65 lakh 'investors' have ever made a transaction. That number might look big, but in comparison to our 100 crore plus population, it is a measly 0.065%! And we have four dedicated television channels catering to this minuscule number. If you don't find this ridiculous, then there is some cause for concern.
The impassioned response against Capital Gains tax and Commodities transaction tax is/was ludicrous. The CTT intends to propose a tax of Rs. 17 on transactions worth One lakh...Yes, One lakh! The arguments against the imposition state a decline in turnover, and a loss of trade!Is a person making transaction worth a lakh of rupees incapable of paying Rs.17 as tax?
The answer what our channels and their viewers would like to hear is- NO
And this has been my learning hole!
And into this hole I come everyday, praying that old adages come true, and there is indeed some light at the end of the tunnel.
Psychological aberrations seem to be the flavour of the season.After Aamir Khan made a stunning debut as a director, with dyslexia as his subject, Ajay Devgan too, chose Alzheimer's as a case study for his first film (as a director). So did he match up to his more illustrious peer? Yes, he did, but 'U Me aur Hum' is not just about Alzheimer's. It's a study about love, friendship, and companionship. It's about emotions, and the evolution of emotions.
Irrespective of whether this film makes a mark at the box office, or not, 'U Me aur Hum', has broken new grounds within the paradigm of the conventional love story. And this is what makes this film watchable. The first half has all the elements of a typical Masala film. A guy falls in love with a sultry bar waitress, and then the follows the oh-so-familiar wooing game. But this film does not end where most love stories do...And the second half is delightful. Devgan has showed a lot of maturity in the portrayal of the love struck couple. They are so close and yet so far...
Devgan deserves kudos for the use of sound effects. UMH has utilised sound effects womderfully, and I can't recall any film apart from TZP to have used sound so effectively. The scene where Alzheimer's makes its first appearance (Kajol stranded on the street) has that disturbing screeching sound...and my friend just could not bear it...Well, thats the power of Sound effects, and it did exactly what it was meant for...to force the audience to sit up and take notice.
The sensitivity with which the character's are treated, makes this film a treat to watch. You may argue, but what makes me enthusiastic about this film, is that 'filmi' characters are slowly evolving into men and women. The stereotype is slowly giving away for more realistic portrayals. I don't know whether that's desirable or not, but it certainly adds another layer to the text. Ajay's soliloquy deserves a special mention, because rarely in Hindi cinema do we find such elements. Soliloquies have faded away from all forms of cinema, and it's a refeshing change to see one after such a long time. And Kajol's subdued performance is perhaps one of her best.
But this film too has it's own share of flaws,the first being the editing. It could have been much tighter. The sub-plots (involving the side characters) are not treated with the same seriousness, and have been reduced to mere lampoons. The first half is tacky and full of cheap humuor (Men are like mice, always looking for a hole), but then even the finest of all directors also make mistakes, and this perhaps reinstates that the Director too, is a human being, fallible...just like 'U Me OR Hum'
