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Politics & the Nation Finance & Economy International Finance & Economy Environment International Language lessons 20.11.2009

Written By Unknown on Tuesday, March 20, 2012 | 9:10 PM


20.11.2009

Politics & the Nation
  • Govt. caves in to opposition onslaught¼vkdze.k djuk½ on cane controversy
    • The issue has snowballed into a major controversy, with thousands of farmers converging¼dh vksj½ in the streets of Delhi on Thursday to demand the scrapping¼[kqjpu½ of the ordinance¼v/;kns’k½, which has put the onus¼nkf;Ro½ on state governments to pay farmers the difference between the state advisory price (SAP) and the central government-administered fair and remunerative¼ikfjJfed½ price (F&RP).
    • The latter, created by the ordinance, replaces the statutory minimum price.
    • The government will have a difficult time in limiting the damage as the ordinance is already in place. It will now have to bring forward a bill to cut its losses.

  • World Toilet Day: November 19
    • It is an initiative by the other WTO — the World Toilet Organisation — which campaigns ¼vfHk;ku½ across the world for better toilet facilities.
    • Drawing together 215 member organisations from 57 countries, the WTO has come up with the idea of publicising November 19th as World Toilet Day in order to break through the reluctance¼vfuPNk½ that most of us have to discuss proper sanitation¼LoPNrk½.
  • Want to see politicians hauled¼?klhVuk½ over the coals?
    • You can't get it better than this one. This is from Mumbai High Court which put lot of inconvenient and embarrassing questions to Narayan Rane and the Shiv Sena.
    • Makes an interesting reading. Read it here.
Finance & Economy
  • Whoa, what an article!!
    • It is in a very long time that we are reading such an article which presents ideas so forcefully and describes a situation so succinctly. This is from GN Bajpai, former Chairman of SEBI. While we do recommend strongly that you should read this article in full and even perhaps keep it for reference, we can't restrain¼fu;af=r djuk½ ourselves from giving you some excerpts¼mnj.k½
    • On how faulty regulatory design led to the present global economic crisis:
      • One of the common identified causes of the global economic crisis from which the world is yet limping out is the inefficacy of regulatory design — a permissive regulatory regime based on excessive reliance on the private sector, leading to ineffective oversight. Apparently, this permissive approach was prompted by a yearning to promote creativity. Ineffective oversight was, inter alia, rooted in the underpinning belief that markets are a better regulator, which was further compounded by the multiplicity of regulators and inefficacious coordination amongst them.
      • There is a rethink on the regulatory design. In fact, there is now a coordinated and concerted attempt among regulators in all geographical jurisdictions not only to revisit and reengineer but comprehensively revamp the regulatory approaches, frameworks and processes. Knee-jerk reactions in some countries are also perceptible. Actually, some jurisdictions want to further burden already overburdened central banks with the responsibility of regulating financial institutions even beyond pure banking.
    • On regulatory gaps / arbitrage:
      • Though each regulator, in his anxiety to comprehensively and assiduously regulate, eventually tends to tread on the turf of other regulators, he still leaves regulatory gaps with ample scope for misconduct in the absence of coordination among regulators. This is being termed as regulatory arbitrage. Regulatory gaps have been an area of serious concern.
  • Is the UK learning from India?
    • We will be left to so wonder when we look at the recent legislative developments in the UK.
    • The UK came up with a bill that gave more power to its financial services regulator to curb short selling. The bill proposes to give the Financial Services Authority jurisdiction to impose “emergency restrictions” on short selling. The FSA would also have powers to force all institutions to permanently disclose short positions in markets.
    • It also proposes a law requiring British banks to disclose salaries and bonuses given to their best-paid traders and executives.
    • There are plans for a Fiscal Responsibility Bill, which aims to cut in half the budget deficit over next four years.
    • Remember the ruckus made by champions of capitalism when our own government imposed ban on short selling in certain commodities? Especially wheat?
International
  • An excellent editorial advice to India on how it should respond to the joint US-China statement on enlarging the role of China in South Asia.
    • A must read. Do it here.
    • There can be very divergent opinions on this. We recognize that.
  • EU chooses Belgian PM as its new President
    • The EU leaders agreed on Trade Commissioner Catherine Ashton of Britain as the EU’s new foreign policy chief and Belgian Prime Minister Herman Van Rompuy as its President.
    • Their appointments suggested the need for compromise outweighed the desire for big names like Tony Blair, the former British leader who was once considered a leading contender for the Presidential job.
    • Read the full story about it here.
  • Sheikh Hasina chosen for Indira Gandhi Prize for Peace
    • Bangladesh Prime Minister Sheikh Hasina has been chosen for the prestigious Indira Gandhi Prize for Peace, Disarmament and Development this year.
    • Ms. Hasina was chosen for her “outstanding contribution to the promotion of democracy and pluralism, her determined drive to alleviate poverty and secure social and economic justice for her people through inclusive and sustainable development, and her consistent commitment to peace,” the statement said.
    • The award, carrying a cash prize of Rs.25 lakh and a citation, will be presented to her at a function to be held at a later date.
Language lessons
  • spook: Noun
    • Someone unpleasantly strange or eccentric
    • eg: ...Nor does India lose anything by quietly asserting its exorcist capabilities, should any venturesome spook be tempted to waft this way.
  • wonk: Noun
    • An insignificant student who is ridiculed as being affected or boringly studious
    • eg: There has been much excitement in the media and among some policy wonks over an alleged American attempt to appoint Beijing as a cop on the Indo-Pak beat.
  • befuddled: Adjective
    • Stupefied by alcoholic drink; Perplexed by many conflicting situations or statements; filled with bewilderment; Confused and vague; used especially of thinking
    • eg: When gun-toting terrorists rampaged through Mumbai on November 26 last year, attacking soft targets, the never-say-stop megacity stood befuddled.
  • bankroll: Verb
    • Provide with sufficient funds; finance
  • doughty: Adjective
    • Resolute and without fear

Read More.... 20.11.2009

19.11.2009

Thu, 2009-11-19 13:25


Politics & the Nation
  • What's the issue about sugar pricing that is set to rock the Parliament session this time?
    • The Sugarcane (Control) Amendment Order, 2009 issed by the government has replaced the statutory minimum price (SMP) with a fair and remunerative price (F&RP), and made it imperative for state governments which have announced a state advisory price (SAP) for sugarcane to bear the burden caused by the difference between the F&RP and the SAP.
    • The order is being seen by state governments and farmers' associations as being loaded in favour of the mill-owners, which will only have to pay the F&RP. The SAP has always been more that the SMP by up to 20-50%. The move has brought the cane-growers, especially in UP, on the warpath.
    • Hoping to cash in on their anger, Opposition parties have made common cause with a section of the ruling alliance to corner the Manmohan Singh government in the two Houses of Parliament during the winter session. The entire Opposition bloc, as also parties such as SP, BSP and RJD, which extend outside support to the ruling alliance, have declared their plans of opposing the order, trashing it as being "anti-poor and anti-farmer".
  • On the merits and demerits of curtailing the role of Competition Commission of India
    • Look at this editorial on the subject. It gives a nuanced view of the role of the CCI and that of the sectoral regulators and explains why it would be a bad idea to prohibit the CCI from looking into certain sectors.
Finance & Economy
  • Government to auction ECB entitlements?
    • If news reports are to be believed this is set to happen sooner than we think.
    • The government is reportedly finalising plans to auction corporate entitlements to borrow abroad, a pre-emptive move relaying the message that the country is determined not to allow unruly capital inflows to disrupt the incipient economic recovery.
    • Inflows in the first few months of the current fiscal are close to the levels seen in 2007-08. Portfolio inflows have crossed $16 billion since January, as against $20 billion in the whole of 2007. Foreign direct investment between April and September this year was $17.74 billion while FDI in 2007-08 was $35.2 billion.
    • Under current ECB rules, Indian companies can access foreign funds on a first-come-first-serve basis within an overall limit set by the government and RBI. Companies can borrow overseas at an average rate, including currency hedging costs, of around 9-10%, which is still lower than the cost here. There are no policy restrictions on the rate at which they can borrow.
    • ECB approvals for April-September 2009 totaled $7.1 billion as against $10.2 billion in the year-ago period.
    • Among the options that the finance ministry is considering for the ECB auction is splitting of the $32 billion overall limit for the current year into parcels for sectors such as infrastructure, power and manufacturing.
  • Capital conundrum
    • Take a look at this graphic which presents the challenges posed by increased capital inflows into the country. A good one.
  • Excerpts of the excellent trends about Asia pointed out by Janmejaya Sinha in his op-ed piece in today's ET.
    • By 2013, the EU, Asia and the US will be equal-sized economic blocks contributing roughly 25% of global GDP. In contrast, in 2000, EU formed 32%, the US 28% and Asia 20% of global GDP. By 2020, China, Japan and India will be with the US and Germany at the top five economies of the world. Together, the three Asian countries will form 27% of global GDP.
    • Today, 5% of the world's consumers — or, the US population — provide $10 trillion of global consumption. All of Asia, with about 45% of the world's population, adds up to only $7 trillion. But by 2020, Asia will consume $21 trillion of global produce, 140% of the US at that time, which will be consuming $15 trillion.
    • Asia's average age will rise from 29 to 32 in the next 10 years while it will go from 40 to 43 in Europe and 37 to 38 in the US.
    • There have always been strong companies in Asia, even today, if you sort through billion-dollar-revenue companies globally and correct them for double holding of some groups, you find about 12,500 companies of which 3,500 are from Asia.
    • If you look at trade patterns, over time the share of inter-Asian trade has risen from 31% in 1990 to 45% in 2008. This is a very large number already and will grow even further in the coming years.
    • What should Asia as a collective do?
      • There is a need for a new idea of Asia: one that is less jingoistic, with a better understanding of common purpose and with some statesmanship from the bigger countries. China, Japan and India will need to show a leadership that will have to at least acknowledge that their power might be frightening to their neighbours. A new paradigm will need to be evolved in how they deal with each other. A common vocabulary developed to discuss issues on which there is a large agreement and a rhetoric that is less threatening and more cooperative on issues on which there is less agreement. This is going to be a long journey given the national trade-offs between liberty and economic progress that have been made in different countries and which are now institutionalised.
  • Governance code for unlisted companies too?
    • The government is all set to introduce a governance code for unlisted companies on the lines of the one for listed firms to encourage more companies to register on the stock exchanges.
    • Elaborate disclosures and compliance with governance code is seen as one big reason why many companies do not want to raise public funds and list on exchanges.
    • The proposed Companies Bill, 2009, (now pending with the parliamentary standing committee), may see unlisted entities being asked to follow specific norms of governance, similar to market regulator Sebi’s code on corporate governance for listed companies,
    • Data shared by the ministry showed that out of over 7 lakh companies in the country, only 6,000 are listed on the NSE and/or the BSE.
Environment
  • What is India's contribution to ensure that Copenhagen summit on climate change succeeds?
    • While acknowledging that India could be a big polluter considering its large population and growing economy, New Delhi has said that it would ensure that its per capita emissions will never exceed that of developed countries.
    • India's per capita emissions are now around 1.2 tonnes of CO2 equivalent and are expected to be around 2 to 2.5 tonnes by 2020 and 3 to 3.5 tonnes by 2030. The per capita limit is an onerous limit that India has imposed on itself.
    • Further it said it is willing to submit a national communication on climate change actions and their impact on emissions every two years. India has suggested that the national communication could be used as a basis for international consultations.
    • India has also unveiled tough new air quality norms. It announced that industrial and residential areas will no more have two different standards and put in place uniform norms in a major move to combat air pollution.
    • The revised guidelines have added five more hazardous chemicals in the list of the National Ambient Air Quality Standards for monitoring. They are ozone, arsenic, nickel, benzene and benzo(a)pyrene.
    • While indicating that it was willing to be "part of a solution", New Delhi has reiterated that developed countries will have to take on binding targets.
International
  • With news like this coming in, will you be working for Goldman Sachs and the like?
    • This question may seem oddly timed for many of us, because working for such behemoths is a dream come true not just for lesser mortals (read... those from non-IIT and non-IIM backgrounds) but even for Gods (read... those from IITs and IIMs.) But a time may perhaps come when working for the big consultants may prove to be a liability!!
Language lessons
  • snide: Adjective
    • Expressive of contempt
    • eg: But consider two facts to remove all snide laughter from a debate on Hindi’s future: one, ...
  • dawdle: Verb
    • Take one's time; proceed slowly; waste time; Hang (back) or fall (behind) in movement, progress, development, etc.
    • eg: The government behaves as if third-generation (3G) telecom services are an indulgence for the public and a revenue source for itself. Why else would it dawdle on 3G licences the way it has been?
  • desultory: Adjective
    • Marked by lack of definite plan or regularity or purpose; jumping from one thing to another
    • eg: In India, DD has a desultory plan to go digital by 2017...
  • wino: Noun
    • A chronic drinker
olitics & the Nation
  • Govt. caves in to opposition onslaught on cane controversy
    • The issue has snowballed into a major controversy, with thousands of farmers converging in the streets of Delhi on Thursday to demand the scrapping of the ordinance, which has put the onus on state governments to pay farmers the difference between the state advisory price (SAP) and the central government-administered fair and remunerative price (F&RP).
    • The latter, created by the ordinance, replaces the statutory minimum price.
    • The government will have a difficult time in limiting the damage as the ordinance is already in place. It will now have to bring forward a bill to cut its losses.
  • World Toilet Day: November 19
    • It is an initiative by the other WTO — the World Toilet Organisation — which campaigns across the world for better toilet facilities.
    • Drawing together 215 member organisations from 57 countries, the WTO has come up with the idea of publicising November 19th as World Toilet Day in order to break through the reluctance that most of us have to discuss proper sanitation.
  • Want to see politicians hauled over the coals?
    • You can't get it better than this one. This is from Mumbai High Court which put lot of inconvenient and embarrassing questions to Narayan Rane and the Shiv Sena.
    • Makes an interesting reading. Read it here.
Finance & Economy
  • Whoa, what an article!!
    • It is in a very long time that we are reading such an article which presents ideas so forcefully and describes a situation so succinctly. This is from GN Bajpai, former Chairman of SEBI. While we do recommend strongly that you should read this article in full and even perhaps keep it for reference, we can't restrain ourselves from giving you some excerpts:
    • On how faulty regulatory design led to the present global economic crisis:
      • One of the common identified causes of the global economic crisis from which the world is yet limping out is the inefficacy of regulatory design — a permissive regulatory regime based on excessive reliance on the private sector, leading to ineffective oversight. Apparently, this permissive approach was prompted by a yearning to promote creativity. Ineffective oversight was, inter alia, rooted in the underpinning belief that markets are a better regulator, which was further compounded by the multiplicity of regulators and inefficacious coordination amongst them.
      • There is a rethink on the regulatory design. In fact, there is now a coordinated and concerted attempt among regulators in all geographical jurisdictions not only to revisit and reengineer but comprehensively revamp the regulatory approaches, frameworks and processes. Knee-jerk reactions in some countries are also perceptible. Actually, some jurisdictions want to further burden already overburdened central banks with the responsibility of regulating financial institutions even beyond pure banking.
    • On regulatory gaps / arbitrage:
      • Though each regulator, in his anxiety to comprehensively and assiduously regulate, eventually tends to tread on the turf of other regulators, he still leaves regulatory gaps with ample scope for misconduct in the absence of coordination among regulators. This is being termed as regulatory arbitrage. Regulatory gaps have been an area of serious concern.
  • Is the UK learning from India?
    • We will be left to so wonder when we look at the recent legislative developments in the UK.
    • The UK came up with a bill that gave more power to its financial services regulator to curb short selling. The bill proposes to give the Financial Services Authority jurisdiction to impose “emergency restrictions” on short selling. The FSA would also have powers to force all institutions to permanently disclose short positions in markets.
    • It also proposes a law requiring British banks to disclose salaries and bonuses given to their best-paid traders and executives.
    • There are plans for a Fiscal Responsibility Bill, which aims to cut in half the budget deficit over next four years.
    • Remember the ruckus made by champions of capitalism when our own government imposed ban on short selling in certain commodities? Especially wheat?
International
  • An excellent editorial advice to India on how it should respond to the joint US-China statement on enlarging the role of China in South Asia.
    • A must read. Do it here.
    • There can be very divergent opinions on this. We recognize that.
  • EU chooses Belgian PM as its new President
    • The EU leaders agreed on Trade Commissioner Catherine Ashton of Britain as the EU’s new foreign policy chief and Belgian Prime Minister Herman Van Rompuy as its President.
    • Their appointments suggested the need for compromise outweighed the desire for big names like Tony Blair, the former British leader who was once considered a leading contender for the Presidential job.
    • Read the full story about it here.
  • Sheikh Hasina chosen for Indira Gandhi Prize for Peace
    • Bangladesh Prime Minister Sheikh Hasina has been chosen for the prestigious Indira Gandhi Prize for Peace, Disarmament and Development this year.
    • Ms. Hasina was chosen for her “outstanding contribution to the promotion of democracy and pluralism, her determined drive to alleviate poverty and secure social and economic justice for her people through inclusive and sustainable development, and her consistent commitment to peace,” the statement said.
    • The award, carrying a cash prize of Rs.25 lakh and a citation, will be presented to her at a function to be held at a later date.
Language lessons
  • spook: Noun
    • Someone unpleasantly strange or eccentric
    • eg: ...Nor does India lose anything by quietly asserting its exorcist capabilities, should any venturesome spook be tempted to waft this way.
  • wonk: Noun
    • An insignificant student who is ridiculed as being affected or boringly studious
    • eg: There has been much excitement in the media and among some policy wonks over an alleged American attempt to appoint Beijing as a cop on the Indo-Pak beat.
  • befuddled: Adjective
    • Stupefied by alcoholic drink; Perplexed by many conflicting situations or statements; filled with bewilderment; Confused and vague; used especially of thinking
    • eg: When gun-toting terrorists rampaged through Mumbai on November 26 last year, attacking soft targets, the never-say-stop megacity stood befuddled.
  • bankroll: Verb
    • Provide with sufficient funds; finance
  • doughty: Adjective
    • Resolute and without fear

Read More.... 20.11.2009

19.11.2009

Thu, 2009-11-19 13:25


Politics & the Nation
  • What's the issue about sugar pricing that is set to rock the Parliament session this time?
    • The Sugarcane (Control) Amendment Order, 2009 issed by the government has replaced the statutory minimum price (SMP) with a fair and remunerative price (F&RP), and made it imperative for state governments which have announced a state advisory price (SAP) for sugarcane to bear the burden caused by the difference between the F&RP and the SAP.
    • The order is being seen by state governments and farmers' associations as being loaded in favour of the mill-owners, which will only have to pay the F&RP. The SAP has always been more that the SMP by up to 20-50%. The move has brought the cane-growers, especially in UP, on the warpath.
    • Hoping to cash in on their anger, Opposition parties have made common cause with a section of the ruling alliance to corner the Manmohan Singh government in the two Houses of Parliament during the winter session. The entire Opposition bloc, as also parties such as SP, BSP and RJD, which extend outside support to the ruling alliance, have declared their plans of opposing the order, trashing it as being "anti-poor and anti-farmer".
  • On the merits and demerits of curtailing the role of Competition Commission of India
    • Look at this editorial on the subject. It gives a nuanced view of the role of the CCI and that of the sectoral regulators and explains why it would be a bad idea to prohibit the CCI from looking into certain sectors.
Finance & Economy
  • Government to auction ECB entitlements?
    • If news reports are to be believed this is set to happen sooner than we think.
    • The government is reportedly finalising plans to auction corporate entitlements to borrow abroad, a pre-emptive move relaying the message that the country is determined not to allow unruly capital inflows to disrupt the incipient economic recovery.
    • Inflows in the first few months of the current fiscal are close to the levels seen in 2007-08. Portfolio inflows have crossed $16 billion since January, as against $20 billion in the whole of 2007. Foreign direct investment between April and September this year was $17.74 billion while FDI in 2007-08 was $35.2 billion.
    • Under current ECB rules, Indian companies can access foreign funds on a first-come-first-serve basis within an overall limit set by the government and RBI. Companies can borrow overseas at an average rate, including currency hedging costs, of around 9-10%, which is still lower than the cost here. There are no policy restrictions on the rate at which they can borrow.
    • ECB approvals for April-September 2009 totaled $7.1 billion as against $10.2 billion in the year-ago period.
    • Among the options that the finance ministry is considering for the ECB auction is splitting of the $32 billion overall limit for the current year into parcels for sectors such as infrastructure, power and manufacturing.
  • Capital conundrum
    • Take a look at this graphic which presents the challenges posed by increased capital inflows into the country. A good one.
  • Excerpts of the excellent trends about Asia pointed out by Janmejaya Sinha in his op-ed piece in today's ET.
    • By 2013, the EU, Asia and the US will be equal-sized economic blocks contributing roughly 25% of global GDP. In contrast, in 2000, EU formed 32%, the US 28% and Asia 20% of global GDP. By 2020, China, Japan and India will be with the US and Germany at the top five economies of the world. Together, the three Asian countries will form 27% of global GDP.
    • Today, 5% of the world's consumers — or, the US population — provide $10 trillion of global consumption. All of Asia, with about 45% of the world's population, adds up to only $7 trillion. But by 2020, Asia will consume $21 trillion of global produce, 140% of the US at that time, which will be consuming $15 trillion.
    • Asia's average age will rise from 29 to 32 in the next 10 years while it will go from 40 to 43 in Europe and 37 to 38 in the US.
    • There have always been strong companies in Asia, even today, if you sort through billion-dollar-revenue companies globally and correct them for double holding of some groups, you find about 12,500 companies of which 3,500 are from Asia.
    • If you look at trade patterns, over time the share of inter-Asian trade has risen from 31% in 1990 to 45% in 2008. This is a very large number already and will grow even further in the coming years.
    • What should Asia as a collective do?
      • There is a need for a new idea of Asia: one that is less jingoistic, with a better understanding of common purpose and with some statesmanship from the bigger countries. China, Japan and India will need to show a leadership that will have to at least acknowledge that their power might be frightening to their neighbours. A new paradigm will need to be evolved in how they deal with each other. A common vocabulary developed to discuss issues on which there is a large agreement and a rhetoric that is less threatening and more cooperative on issues on which there is less agreement. This is going to be a long journey given the national trade-offs between liberty and economic progress that have been made in different countries and which are now institutionalised.
  • Governance code for unlisted companies too?
    • The government is all set to introduce a governance code for unlisted companies on the lines of the one for listed firms to encourage more companies to register on the stock exchanges.
    • Elaborate disclosures and compliance with governance code is seen as one big reason why many companies do not want to raise public funds and list on exchanges.
    • The proposed Companies Bill, 2009, (now pending with the parliamentary standing committee), may see unlisted entities being asked to follow specific norms of governance, similar to market regulator Sebi’s code on corporate governance for listed companies,
    • Data shared by the ministry showed that out of over 7 lakh companies in the country, only 6,000 are listed on the NSE and/or the BSE.
Environment
  • What is India's contribution to ensure that Copenhagen summit on climate change succeeds?
    • While acknowledging that India could be a big polluter considering its large population and growing economy, New Delhi has said that it would ensure that its per capita emissions will never exceed that of developed countries.
    • India's per capita emissions are now around 1.2 tonnes of CO2 equivalent and are expected to be around 2 to 2.5 tonnes by 2020 and 3 to 3.5 tonnes by 2030. The per capita limit is an onerous limit that India has imposed on itself.
    • Further it said it is willing to submit a national communication on climate change actions and their impact on emissions every two years. India has suggested that the national communication could be used as a basis for international consultations.
    • India has also unveiled tough new air quality norms. It announced that industrial and residential areas will no more have two different standards and put in place uniform norms in a major move to combat air pollution.
    • The revised guidelines have added five more hazardous chemicals in the list of the National Ambient Air Quality Standards for monitoring. They are ozone, arsenic, nickel, benzene and benzo(a)pyrene.
    • While indicating that it was willing to be "part of a solution", New Delhi has reiterated that developed countries will have to take on binding targets.
International
  • With news like this coming in, will you be working for Goldman Sachs and the like?
    • This question may seem oddly timed for many of us, because working for such behemoths is a dream come true not just for lesser mortals (read... those from non-IIT and non-IIM backgrounds) but even for Gods (read... those from IITs and IIMs.) But a time may perhaps come when working for the big consultants may prove to be a liability!!
Language lessons
  • snide: Adjective
    • Expressive of contempt
    • eg: But consider two facts to remove all snide laughter from a debate on Hindi’s future: one, ...
  • dawdle: Verb
    • Take one's time; proceed slowly; waste time; Hang (back) or fall (behind) in movement, progress, development, etc.
    • eg: The government behaves as if third-generation (3G) telecom services are an indulgence for the public and a revenue source for itself. Why else would it dawdle on 3G licences the way it has been?
  • desultory: Adjective
    • Marked by lack of definite plan or regularity or purpose; jumping from one thing to another
    • eg: In India, DD has a desultory plan to go digital by 2017...
  • wino: Noun
    • A chronic drinker

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