Solutions to Change

By Rahul V Kumar* Everybody has a vision of freedom. This vision is created from the circumstances that prevail in the society of which they are a part. Oppressive regimes of North Korea to democracies like India exhibit the spectrum of social systems from which the concept of freedom gets its definition. Hence it becomes quiet subjective. However, the idea gets clearer when we club it with individual rights. Classical liberal thought considers the right to life, liberty and property as the natural rights of individuals. So freedom implies freedom to conduct oneself within the framework of these rights respecting the fact that the same rights exist for others. This entire idea gains recognition within the context of the rule of law and written constitution in the society.    The big problem which faces democracies like ours is defining the extent to which we enjoy absolute freedom in the above sense. Irrespective of the political parties which constitute our f...

              India is the world's largest consumer of  gold , accounting for some 20 percent of the world's demand. In India gold is historically and culturally tied to the concepts of wealth and prosperity. The demand for gold has been increasing drastically in India which lead to a current account deficit of 4.3%.  Govt tried to reduce the import of Gold by imposing 75% import duty. But still the demand for gold is not reducing, so to curb this demand the govt introduced Inflation Index Bonds in this year's Union Budget. Inflation Index Bonds have been recommended in the Economic Survey Report of 2013. RBI soon going to issue the IIB''s on 4th June 2013 to protect the savings against the rising prices. The reason why these bonds are launched because Inflation erodes the purchasing power of money and people are investing in gold as a hedge against inflation. The advantage of IIB is that adjusts its interest payments depending on t...