Tuesday, November 13, 2012

Great Diwali or Is it Another Dewalia



Diwali is indeed the festival of lights and colors in most parts of India. The resplendent colorful decoration as well as the showy dresses that folks wear is a delightful experience for any beholder. As legend says the all powerful evil force in the form of Narakasura (Demon) has been ultimately destroyed on this day by the Lord Vishnu.

Yet one wonders whether everything around speaks the essence of Diwali or are there still a sizable part of the population trying to eke out a living. What about those that are already seeing the dark sides of the evil of which they have neither designed nor have seen it coming. Many of these innocent lots must have declared ‘Dewalia’ instead of Diwali. The word ‘Dewalia’ means bankruptcy in Hindi as they would say in the northern parts of the country while Diwali means festival of lights. If somebody becomes bankrupt they might say ‘Bhukharam ko Dewalia ghoshid kar diya gaya’. It means that Bhukaram has been declared bankrupt.

Let’s not hope too pessimistically about such bad turn of events as this is a good day. But one cannot help wondering with negative IIP data, Export sluggishness and industrial production falling below expectation whether we should take things a little more seriously. 

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