Dibyajyoti Purushottam

Dibyajyoti Purushottam
Prospectives of Past, Present & Future; And Foresightedness

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02 February, 2022

Life & Insurance (1)

02-Feb-2022: ABOUT LIFE

Life is an Excellent Gift of God to Mankind. But nothing in life is ever certain. Unexpected accidents, hospitalisations, business setbacks, ever decreasing work-force (resulting in retrenchments), terrorism can all mar our well-laid plans. In extreme cases we end up with loss of earning power. Thus the future may be uncertain. But one thing is certain. One needs to plan for it. It is a human tendency to postpone planning till retirement. But the later one starts saving the harder it is to do so. With longer life expectancy, rising inflation and declining interest rates, it is imperative that we start planning now.

  • Conversely life is also full of opportunities for all of us to seize, like: 
  • Financing our children's education (children are our biggest assets), 
  • Buying our dream home (a place of protective roof on our head), 
  • Taking a well-earned vacation (after all why we are earning – we need to enjoy life and need to recharge our energy for earning our livelihood), 
  • To save for the time when we cannot earn sufficiently to sustain ourselves (saving for the rainy day, old age, retirement),
  • We may wish we could safeguard our opportunities and protect against the uncertainties,
  • And finally, for our sheer investment needs.

This is where “INSURANCE” comes in. This is explained in short in the following Part-2:

The Story of Insurance

There is an interesting story about how insurance works: Let’ say a class has 50 children, and they decide to go for a picnic. The teacher tells the children to keep Rs. 50 each for any expenses or emergency. During the picnic a student loses his entire Rs. 50 and he was crying as his parent may scold him. 

The teacher found a solution and asked each of the rest students to contribute Re 1 to the child who lost. Now each student has Rs. 49 including the one who lost. Everyone was happy as Re 1 loss is insignificant. This is how the Insurance works. Re 1 may be taken as premium. Chances of loss of life or property may be 1 in 50, as not everyone faces loss. Calculation / prediction of this chance is done by a highly accurate and sophisticated mathematical branch called Actuary Science.


15 January, 2022

Cost, Price & Value

15-Jan-2022: 

Cost, Price & Value: Explained in short in the Marketing parlance

Cost:

  • The dictionary meanings are: the price paid to acquire, produce, accomplish, or maintain anything; an outlay or expenditure of money, time, labor, trouble, etc.
  • Cost means a price that must be paid for something or a sacrifice.
  • Cost most often refers to a specific amount of money that a seller wants for the item they are selling. However, cost is also used more generally to mean whatever the price of an item is.
  • But in today’s world of Marketing, Cost is an objective term which generally refers to all types of expenses incurred to produce, procure, create or manufacture an item.
  • Cost is of Objective nature. It remains constant under unchanged circumstances.

Price:

  • The sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
  • Price is used mainly of single, concrete objects offered for sale; charge, of services:
  • But in today’s world of Marketing, Price is an objective term which generally refers to Cost plus a margin amount which is called profit, which rewards the maker / producer / procurer / creator / manufacturer.
  • Sometimes the Price may be less than the Cost under certain undesirable constraints.
  • Price is of Objective nature. It may change on various different reasons for the same cost.

Value:

  • Intrinsic worth, merit, or importance of an object;
  • Monetary or material worth, as in commerce or trade.
  • Value, worth imply intrinsic excellence or desirability.
  • Value is that quality of anything which renders it desirable or useful:
  • Value is of Subjective nature. It doesn’t change on its own.
  • Sometimes the Value of an Object can be changed which is called the “Value Addition”, by undergoing certain processes.
  • Value is sometimes divided into two types:
    • Objective, Physical, Utility; which remains constant.
    • Subjective, Emotional, Esteem; which varies from person to person, time to time, etc.


22 December, 2021

National Mathematics Day

22-Dec-2021: NATIONAL MATHEMATICS DAY

Former prime minister Manmohan Singh in 2012 declared December 22 as National Mathematics Day to honour the legendary mathematician Shri Srinivasa Ramanujan.

Vice President Venkaiah Naidu Tweeted, "My humble tributes to the legendary mathematician, Shri Srinivasa Ramanujan on his birth anniversary, which is also celebrated as National Mathematics Day. On this day, let us spread awareness on the importance of mathematics in sustainable development, innovation and most of all in improving the quality of lives."

Professor Neena Gupta, a mathematician at the Indian Statistical Institute in Kolkata, has been awarded the 2021 DST-ICTP-IMU Ramanujan Prize for Young Mathematician. The Ramanujan Prize is given annually to an eminent Mathematician by the International Centre for Theoretical Physics (ICTP), Trieste and the government of India.

THE MAN WHO KNEW INFINITY

December 22 is marked as the National Mathematics Day every year, remembering one of India's greatest mathematicians Srinivasa Aiyangar Ramanujan (Born 22-Dec-1887, Died 26-Apr-1920), who contributed to explaining the analytical theory of numbers and worked on elliptic functions, continued fractions, and infinite series. At the time of his death in 1920, Ramanujan had discovered his own theorems and independently compiled 3900 results.

20 November, 2021

Esteem of Supreme Court

The Esteem of the Supreme Court of India

A Short Article By Dibyajyoti Purushottam, 20-Nov-2021

An analysis of how the Esteem and Reverence enjoyed by the Supreme Court of India is decided by its own action.

The Supreme Court (SC) of India, which we all Indians hold high esteem of is now in the midst of certain kind of threat from a small coterie which exert tremendous amount of pressure in the Social Media (SM) backed by power, politics, money, influence, technology, social followers, anti-establishment / national inclination, mob power and so on. They compel the honourable judges for certain kind of judgements, failing which the judges are subjected to massive “trolls” in the SM. This situation has led to a recent recusal of two very senior judges in a case regarding the river water sharing case.

Now, if one analyses the cause closely, one is surprised that the SC itself is the major contributor. Let’s elaborate:

We all know that the SC is the supreme interpreter of Law and Constitution. We all have learnt as students that the Constitution must be followed in “Letter & Spirit”. 

But unfortunately, everybody tries to follow in “Letter” only, and that too in a subjective / selective manner to suit something or somebody. The “Spirit” is missing altogether which may be called “Logic” or the “Rationale”.

Most of the times it is noticed that the cases are decided more by the level of “Reputation” of the representing Lawyer and less by the merit of the case. 

A classic example is the case of a renowned SC advocate who had tweeted offensive material against a few senior Justices of the SC. The contempt of courts case was upheld and he was fined only one Rupee.

This fact may be interpreted as the worth of “Esteem” or “Reverence” of the SC is a mere one Rupee. The SC itself has fixed a value to its own esteem / reverence as one Rupee.

Likewise, several senior level judges’ protest against the CJI creates a bad precedent. If the judges don’t honour their senior colleagues then how do they expect others to honour them?

We know that the “Freedom of Speech” is a fundamental right. But if you think rationally, you will find it is NOT ABSOLUTE, and NOT Limitless or Unlimited. On the other hand there is a scope for “Defamation Suite”- it means that you have to find the thin line on the basis of the civilised norms.

Someone called the duly elected Prime Minister of India a thief, and he gets away with it advised not to do it again, the other uses gibberish about the judges, and pays a fine of one Rupee. Some young techies conspire against the nation, and get bail swiftly and continue to do the same, some so-called human rights activists planning to eliminate the democratically elected PM, enjoy social protection and cosy life. 

But the SC would never come to the rescue of common people who suffered blockage of roads for over a year, mass exodus of a community out of fear of life, etc. What do all these show? This is anybody’s guess.

Most of the PILs accepted by the SC for hearing are selected to please some pressure groups.

The SC is often selective in choosing the so called “Suo Motu” cases and pass judgement against majority groups who are soft targets.

On the other hand, the SC dreads passing judgement against some minority groups over the fear of retribution.

For example, the SC is more concerned about the height of “Dahi Handi” in a Maharashtra festival than the open violence against the majority community in Bengal, Kerala, Kashmir, etc.

Unable to set its own house, it tries to interfere in too many cases with the executive. We have several examples of the SC reprimanding the Central & State Govt.s but never the unlawful protesters, all in the name of freedom of speech & protest to show its magnanimity.

The chief job of the SC is to interpret the Constitution in its proper prospective, and not advise the Government how to legislate. Just like the SC doesn’t like to be advised in its own matters, so also the Govt.

The bottom line is that “To err is Human”. We are all humans, and it’s the same humans who man all the trades and services. In all professions we have good people and bad too. Out of the whole lot we respect the most- the Armed Forces and the Judiciary. In a recently published book, a former CJI says “Criticize the Judgement if you want, but NOT the Judge”. Very right indeed - but he never said that “Criticize the Government / governance if you want, but NOT the individuals behind it”, and I doubt if ever he would. Needless to say, that the very same CJI revolted against another CJI denting the reputation of the highest Judiciary Institution.

The morale of the whole story is that the SC is solely responsible for its own esteem or disrepute, and the process to attain reverence should not only be transparent, but also be ostensible and timely.