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Ajmal Amir Kasab's lawyer
Tuesday, April 21, 2009
Sunday, April 19, 2009
Sensex at 1,00,000 Points?
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Sensex at 1,00,000 Points? Possible by 2025: Technical charts
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19 Apr 2009, 1505 hrs IST, PTI
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NEW DELHI: It may sound utopian in the backdrop of months-long downslide on bourses, but a US-based equity research group sees India's benchmark
index Sensex scaling a milestone of 1,00,000 points within next 15 years.
This would mean an unimaginable rally of over 10-times from the level seen just a few days ago, when Sensex was toiling below 10,000-point mark after a meltdown that began more than a year ago.
The Sensex had more than halved to trade below 8,000-point mark in October last year after scaling a record high of over 21,000 points on January 10, 2008.
Unperturbed by the sharp fall, US-based global equity research group Elliott Wave International, which specializes in analysis of technical charts of stock movements, believes that the recent surge in Indian market is the beginning of a long-running bull cycle that could continue for 15 years.
The recent upsurge began on March 9 and the Sensex has gained over 2,500 points or by more than 30%.
"If the price and time proportions between the waves in the 2003-2008 rally continue, the Sensex should hit 100,000 in about 15 years," research group's Asia-Pacific Financial Forecast editor Mark Galasiewski said over phone.
In its report for Asia-Pacific markets, based on analysis of technical charts, Elliottt Wave has said there were strong indications of "a resumption of the bull market in Indian stocks".
Extending its previous analysis in November last year, when it had said the Sensex might continue advancing for 15 years before the end of another bull run, Elliott Wave said the market seemed to have completed its most recent downward spiral in October 2008.
The Indian stock market benchmark Sensex had scaled an all-time high of 21,206.77 points on January 10, 2008 before embarking on a downward journey, wherein it touched a low of 7,697.39 points on October 27.
According to the Elliot Wave's April forecast report, the Sensex has declined in three waves to the October low, where it retraced approximately 50% of its 2003-08 rally on a percentage basis.
The index has just broken out of its downward trend channel and the patterns seen recently and during the 2003-04 period "are the best argument for a resumption of the bull market in Indian stocks," it added.
Naming India among the "potential baby bulls" of the region, alongside Taiwan and Korea, Elliott Wave had said the completion of three waves of fall from their respective highs had made them "strong candidates to rally back to at least near their all-time highs -- if not beyond".
Elliottt Wave has also classified Japan, Singapore, Hong Kong, China and Australia as long-term bear markets, while the "potential baby bulls" have been described as those which investors should consider for long-term investments.
The report further noted that India had experienced long- running bearish phase in the past, indicating that the next bull-run could continue beyond its most recent all-time high levels.
Until the early 2000s, the long bear market in India lasted for 11 years (1992-2003).
"The five-wave pattern from 2003-08 is a road map to the future. Elliott waves progress in five waves and correct in three waves," research group's Asia-Pacific Financial Forecast editor Mark Galasiewski said.
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Sensex at 1,00,000 Points? Possible by 2025: Technical charts
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19 Apr 2009, 1505 hrs IST, PTI
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NEW DELHI: It may sound utopian in the backdrop of months-long downslide on bourses, but a US-based equity research group sees India's benchmark
index Sensex scaling a milestone of 1,00,000 points within next 15 years.
This would mean an unimaginable rally of over 10-times from the level seen just a few days ago, when Sensex was toiling below 10,000-point mark after a meltdown that began more than a year ago.
The Sensex had more than halved to trade below 8,000-point mark in October last year after scaling a record high of over 21,000 points on January 10, 2008.
Unperturbed by the sharp fall, US-based global equity research group Elliott Wave International, which specializes in analysis of technical charts of stock movements, believes that the recent surge in Indian market is the beginning of a long-running bull cycle that could continue for 15 years.
The recent upsurge began on March 9 and the Sensex has gained over 2,500 points or by more than 30%.
"If the price and time proportions between the waves in the 2003-2008 rally continue, the Sensex should hit 100,000 in about 15 years," research group's Asia-Pacific Financial Forecast editor Mark Galasiewski said over phone.
In its report for Asia-Pacific markets, based on analysis of technical charts, Elliottt Wave has said there were strong indications of "a resumption of the bull market in Indian stocks".
Extending its previous analysis in November last year, when it had said the Sensex might continue advancing for 15 years before the end of another bull run, Elliott Wave said the market seemed to have completed its most recent downward spiral in October 2008.
The Indian stock market benchmark Sensex had scaled an all-time high of 21,206.77 points on January 10, 2008 before embarking on a downward journey, wherein it touched a low of 7,697.39 points on October 27.
According to the Elliot Wave's April forecast report, the Sensex has declined in three waves to the October low, where it retraced approximately 50% of its 2003-08 rally on a percentage basis.
The index has just broken out of its downward trend channel and the patterns seen recently and during the 2003-04 period "are the best argument for a resumption of the bull market in Indian stocks," it added.
Naming India among the "potential baby bulls" of the region, alongside Taiwan and Korea, Elliott Wave had said the completion of three waves of fall from their respective highs had made them "strong candidates to rally back to at least near their all-time highs -- if not beyond".
Elliottt Wave has also classified Japan, Singapore, Hong Kong, China and Australia as long-term bear markets, while the "potential baby bulls" have been described as those which investors should consider for long-term investments.
The report further noted that India had experienced long- running bearish phase in the past, indicating that the next bull-run could continue beyond its most recent all-time high levels.
Until the early 2000s, the long bear market in India lasted for 11 years (1992-2003).
"The five-wave pattern from 2003-08 is a road map to the future. Elliott waves progress in five waves and correct in three waves," research group's Asia-Pacific Financial Forecast editor Mark Galasiewski said.
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Tuesday, April 14, 2009
Executives Quit Jobs Abroad for IIMC
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14 Apr 2009, 0048 hrs IST, Jhimli Mukherjee Pandey, TNN
KOLKATA: At least six to seven executives working in senior positions abroad have foregone an annual salary package of anything between $100,000 and
$150,000 to join an MBA programme at the Indian Institute of Management, Calcutta. This is the third year of the post graduate programme for executives (PGPEX) but this is the first time that so many have kicked foreign jobs to be here.
Take the case of Jayeeta Sharma, a business associate at Millenium Operations in New York, who quit her job that paid a neat $100,000. "It indeed was a major decision to quit the comfort of a cushy job and once again enter student life. But it was pointless spending $120,000 on tuition fees in a US business school when the market conditions are so bad," she admits.
The ongoing economic slump has played a major role in this decision making, they confide. Sushmita Kanjilal, another PGPEX candidate preferred to quit her position from TCS in the US. "I was in a techie role but wanted a direct managerial role. Moreover, the market in the US is not too good now, so I have decided to study in the meantime and then hope for a better growth through placements," she said.
Tauqueer Ali has 9 years of experience and was earning a huge salary at a US outfit of IBM Global Services. "The PGPEX placements at IIM-C has even given 100 per cent hikes salarywise in the Indian context. I have plans to live and work in India for sometime," he said.
Candidates who have quit senior positions in the Nuclear Power Corporation, NTPC, BSNL, BHEL and Tata Steel have also joined this PGPEX batch of 55. "PGPEX was designed to give senior executives with a considerable work experience, a chance to get an MBA degree. We are extremely happy to get people with such diverse backgrounds," said the chairperson of PGPEX, Biju Abraham.
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14 Apr 2009, 0048 hrs IST, Jhimli Mukherjee Pandey, TNN
KOLKATA: At least six to seven executives working in senior positions abroad have foregone an annual salary package of anything between $100,000 and
$150,000 to join an MBA programme at the Indian Institute of Management, Calcutta. This is the third year of the post graduate programme for executives (PGPEX) but this is the first time that so many have kicked foreign jobs to be here.
Take the case of Jayeeta Sharma, a business associate at Millenium Operations in New York, who quit her job that paid a neat $100,000. "It indeed was a major decision to quit the comfort of a cushy job and once again enter student life. But it was pointless spending $120,000 on tuition fees in a US business school when the market conditions are so bad," she admits.
The ongoing economic slump has played a major role in this decision making, they confide. Sushmita Kanjilal, another PGPEX candidate preferred to quit her position from TCS in the US. "I was in a techie role but wanted a direct managerial role. Moreover, the market in the US is not too good now, so I have decided to study in the meantime and then hope for a better growth through placements," she said.
Tauqueer Ali has 9 years of experience and was earning a huge salary at a US outfit of IBM Global Services. "The PGPEX placements at IIM-C has even given 100 per cent hikes salarywise in the Indian context. I have plans to live and work in India for sometime," he said.
Candidates who have quit senior positions in the Nuclear Power Corporation, NTPC, BSNL, BHEL and Tata Steel have also joined this PGPEX batch of 55. "PGPEX was designed to give senior executives with a considerable work experience, a chance to get an MBA degree. We are extremely happy to get people with such diverse backgrounds," said the chairperson of PGPEX, Biju Abraham.
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Sunday, April 12, 2009
IIT JEE & AIEEE 2009
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Around 4 Lakh Students for IIT JEE & 10 L for AIEEE 2009
April is Testing times for Engineering College Aspirants as about 3.95 Lakh Students to appear for IIT JEE 2009 (IIT Joint Entrance Exam) coming sunday and at least 10 lakh students will appear in AIEEE-2009 exam on April 26 throughout the country
For AIEEE Exam , the CBSE has shortlisted 1,460 examination centres throughout the country and a few overseas. “Admission cards have already been sent to the candidates appearing and if candidates have not received cards they can contact the board office for a duplicate admission card,” said the board’s press release.
For IIT JEE Around 3.95 lakh students will appear for the Indian Institute of Technology Joint Entrance Exam (IIT-JEE) this Sunday to compete for the 7,300 seats (approx) across the country.
The 15 IITs at Bhubaneshwar, Bombay, Delhi, Chennai, Roorkee, Kharagpur, Kanpur, Patna, Gandhinagar, Guwahati, Hyderabad, Punjab, Himachal Pradesh, Indore and Rajasthan along with Banaras Hindu University (BHU), Varanasi, and Indian School of Mines University (ISMU), Dhanbad, accept JEE score for admission to undergraduate courses. Last year 3.11 lakh students appeared for the exam. The number of seats has increased this year owing to the new IITs and Other Backward Class (OBC) reservation making the seat to student ratio 1: 54.
Beside IIT JEE and AIEEE, students are also preparing for other State level Engineering Entrance Exams and also in different institutions like VIT and Birla Institute
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Around 4 Lakh Students for IIT JEE & 10 L for AIEEE 2009
April is Testing times for Engineering College Aspirants as about 3.95 Lakh Students to appear for IIT JEE 2009 (IIT Joint Entrance Exam) coming sunday and at least 10 lakh students will appear in AIEEE-2009 exam on April 26 throughout the country
For AIEEE Exam , the CBSE has shortlisted 1,460 examination centres throughout the country and a few overseas. “Admission cards have already been sent to the candidates appearing and if candidates have not received cards they can contact the board office for a duplicate admission card,” said the board’s press release.
For IIT JEE Around 3.95 lakh students will appear for the Indian Institute of Technology Joint Entrance Exam (IIT-JEE) this Sunday to compete for the 7,300 seats (approx) across the country.
The 15 IITs at Bhubaneshwar, Bombay, Delhi, Chennai, Roorkee, Kharagpur, Kanpur, Patna, Gandhinagar, Guwahati, Hyderabad, Punjab, Himachal Pradesh, Indore and Rajasthan along with Banaras Hindu University (BHU), Varanasi, and Indian School of Mines University (ISMU), Dhanbad, accept JEE score for admission to undergraduate courses. Last year 3.11 lakh students appeared for the exam. The number of seats has increased this year owing to the new IITs and Other Backward Class (OBC) reservation making the seat to student ratio 1: 54.
Beside IIT JEE and AIEEE, students are also preparing for other State level Engineering Entrance Exams and also in different institutions like VIT and Birla Institute
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Tuesday, April 7, 2009
Truth You Never Thought Of
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Salary & Govt. Concessionsfor a Member of Parliament (MP)
Monthly Salary : 12,000
Expense for Constitution per month :10,000
Office expenditure per month :14,000
Traveling concession (Rs. 8 per km) : 48,000( eg.For a visit from kerala to Delhi & return: 6000 km)
Daily DA TA during parliament meets :500/day
Charge for 1 class (A/C) in train:Free (For any number of times)
(All over India )
Charge for Business Class in flights : Free for 40 trips / year (With wife or P...A.)
Rent for MP hostel at Delhi : Free
Electricitycosts at home : Free up to 50,000 units
Local phone call charge : Free up to 1 ,70,000 calls.
TOTAL expense for a MP [having no qualification] per year :32,00,000 [i.e . 2.66 lakh/month]
TOTAL expense for 5 years : 1,60,00,000
For 534 MPs, the expense for 5 years :
8,54,40,00,000 (nearly 855 crores)
AND THE PRIME MINISTER IS ASKING THE HIGHLY QUALIFIED, OUT PERFORMING CEOs TO CUT DOWN THEIR SALARIES…..
This is how all our tax money is been swallowed and price hike on our regular commodities. ......
And this is the present condition of our country:
855 crores could make their life livable !!
Think of the great democracy we have........ .....
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Salary & Govt. Concessionsfor a Member of Parliament (MP)
Monthly Salary : 12,000
Expense for Constitution per month :10,000
Office expenditure per month :14,000
Traveling concession (Rs. 8 per km) : 48,000( eg.For a visit from kerala to Delhi & return: 6000 km)
Daily DA TA during parliament meets :500/day
Charge for 1 class (A/C) in train:Free (For any number of times)
(All over India )
Charge for Business Class in flights : Free for 40 trips / year (With wife or P...A.)
Rent for MP hostel at Delhi : Free
Electricitycosts at home : Free up to 50,000 units
Local phone call charge : Free up to 1 ,70,000 calls.
TOTAL expense for a MP [having no qualification] per year :32,00,000 [i.e . 2.66 lakh/month]
TOTAL expense for 5 years : 1,60,00,000
For 534 MPs, the expense for 5 years :
8,54,40,00,000 (nearly 855 crores)
AND THE PRIME MINISTER IS ASKING THE HIGHLY QUALIFIED, OUT PERFORMING CEOs TO CUT DOWN THEIR SALARIES…..
This is how all our tax money is been swallowed and price hike on our regular commodities. ......
And this is the present condition of our country:
855 crores could make their life livable !!
Think of the great democracy we have........ .....
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Monday, April 6, 2009
NASTY INDIAN POLITICS and THE ......
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I would have crushed Varun under a Roller: Lalu
6 Apr 2009, 1902 hrs IST, PTI
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KISHANGANJ(Bihar): RJD chief Lalu Prasad on Monday said he would have "crushed" BJP candidate Varun Gandhi under a roller for his anti-Muslim
speeches if he had been the country's Home Minister.
"Had I been the country's home minister, I would have crushed Varun Gandhi under a roller and destroyed him without caring for the consequences for his hate speech against Muslims," Prasad told an election meeting here.
The Railway minister recalled how he and his party had frustrated the "communal" BJP's bid to storm to power at the Centre in 2004 Lok Sabha polls and taken on those raking up the issue of Congress president Sonia Gandhi's foreign origin.
Attacking Bihar chief minister Nitish Kumar, the RJD chief alleged, "Nitish is sitting in the lap of L K Advani, who was directly involved in pulling down the Babri mosque, but his dream will never come true."
LJP President and Union minister Ramvilas Paswan, who was also present, charged Kumar with 'misleading' the minorities by claiming to be secular "while playing into hands of the BJP".
The two leaders were speaking after the filing of nomination by RJD candidate and Union minister Taslimuddin for Kishanganj Lok Sabha seat.
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I would have crushed Varun under a Roller: Lalu
6 Apr 2009, 1902 hrs IST, PTI
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KISHANGANJ(Bihar): RJD chief Lalu Prasad on Monday said he would have "crushed" BJP candidate Varun Gandhi under a roller for his anti-Muslim
speeches if he had been the country's Home Minister.
"Had I been the country's home minister, I would have crushed Varun Gandhi under a roller and destroyed him without caring for the consequences for his hate speech against Muslims," Prasad told an election meeting here.
The Railway minister recalled how he and his party had frustrated the "communal" BJP's bid to storm to power at the Centre in 2004 Lok Sabha polls and taken on those raking up the issue of Congress president Sonia Gandhi's foreign origin.
Attacking Bihar chief minister Nitish Kumar, the RJD chief alleged, "Nitish is sitting in the lap of L K Advani, who was directly involved in pulling down the Babri mosque, but his dream will never come true."
LJP President and Union minister Ramvilas Paswan, who was also present, charged Kumar with 'misleading' the minorities by claiming to be secular "while playing into hands of the BJP".
The two leaders were speaking after the filing of nomination by RJD candidate and Union minister Taslimuddin for Kishanganj Lok Sabha seat.
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Sunday, April 5, 2009
Priyanka's Father-In-Law Hanged Himself
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NEW DELHI: Rajendra Vadra, father of Robert Vadra, Priyanka Gandhi Vadra's husband, was found dead at a guest house in Yusuf Sarai area on Friday. A Priyanka Vadra, Rahul Gandhi and Sonia Gandhi at the cremation of Priyanka's father-in-law in New Delhi. (PTI Photo)
More Pictures
source requesting anonymity claimed that it was suspected to be a case of suicide as Vadra was found with an ironing cord around his neck. Police officials, off the record, initially said the death was caused by a heart attack, but later clammed up. No official statement was forthcoming from either the family or the police.
Vadra's body was found by a room attendant at around 9.30 am in City Inn, where he had been staying for the last fortnight. His body was taken to Safdarjung Hospital and a post mortem conducted. Sources within the hospital claimed that there were injury marks around the neck, but declined to be quoted. Neither the police, nor hospital authorities divulged any details about the cause of death.
Vadra, who was in his 60s, was reportedly alone at the time of his death. His body was cremated at the Lodhi Road Crematorium on Friday afternoon in the presence of Sonia Gandhi, Rahul Gandhi, Priyanka and his son Robert, along with other family and friends. Rahul left early for campaigning in Bihar while the others stayed on with the family. The family of the deceased refused to speak to the media about the incident. The police declined to comment on whether an inquest would be conducted into the allegations of suicide.
Vadra was reportedly undergoing treatment for cirrhosis of the liver and severe diabetes at Max Hospital. He was staying at the guest house even though he owned a house in New Friend's Colony.
About eight years ago, Robert Vadra had issued a public notice stating that his father, Rajender, and brother, Richard, were "duping" people by promising jobs at the Uttar Pradesh Congress Committee and other favours. Rajendra later threatened to file a defamation suit against his son. In an interview, he had also expressed displeasure at Robert's marriage with Priyanka.
Rajendra was a resident of Civil Lines area of Moradabad and ran a brass and wood handicrafts business. Robert's brother, Richard Vadra was also found dead in mysterious circumstances in September 2003 at his Vasant Vihar residence, and his sister Michelle died in a car accident in 2001.
While the Vadra family claimed to be a supporter of the Congress Party, Rajendra's older brother Om Prakash had donated his property to a trust in Moradabad, some members of which are affiliated with RSS. A school still stands on that land. The family is originally from Sialkot, Pakistan, and Rajendra's father moved to India at the time of partition.
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NEW DELHI: Rajendra Vadra, father of Robert Vadra, Priyanka Gandhi Vadra's husband, was found dead at a guest house in Yusuf Sarai area on Friday. A Priyanka Vadra, Rahul Gandhi and Sonia Gandhi at the cremation of Priyanka's father-in-law in New Delhi. (PTI Photo)
More Pictures
source requesting anonymity claimed that it was suspected to be a case of suicide as Vadra was found with an ironing cord around his neck. Police officials, off the record, initially said the death was caused by a heart attack, but later clammed up. No official statement was forthcoming from either the family or the police.
Vadra's body was found by a room attendant at around 9.30 am in City Inn, where he had been staying for the last fortnight. His body was taken to Safdarjung Hospital and a post mortem conducted. Sources within the hospital claimed that there were injury marks around the neck, but declined to be quoted. Neither the police, nor hospital authorities divulged any details about the cause of death.
Vadra, who was in his 60s, was reportedly alone at the time of his death. His body was cremated at the Lodhi Road Crematorium on Friday afternoon in the presence of Sonia Gandhi, Rahul Gandhi, Priyanka and his son Robert, along with other family and friends. Rahul left early for campaigning in Bihar while the others stayed on with the family. The family of the deceased refused to speak to the media about the incident. The police declined to comment on whether an inquest would be conducted into the allegations of suicide.
Vadra was reportedly undergoing treatment for cirrhosis of the liver and severe diabetes at Max Hospital. He was staying at the guest house even though he owned a house in New Friend's Colony.
About eight years ago, Robert Vadra had issued a public notice stating that his father, Rajender, and brother, Richard, were "duping" people by promising jobs at the Uttar Pradesh Congress Committee and other favours. Rajendra later threatened to file a defamation suit against his son. In an interview, he had also expressed displeasure at Robert's marriage with Priyanka.
Rajendra was a resident of Civil Lines area of Moradabad and ran a brass and wood handicrafts business. Robert's brother, Richard Vadra was also found dead in mysterious circumstances in September 2003 at his Vasant Vihar residence, and his sister Michelle died in a car accident in 2001.
While the Vadra family claimed to be a supporter of the Congress Party, Rajendra's older brother Om Prakash had donated his property to a trust in Moradabad, some members of which are affiliated with RSS. A school still stands on that land. The family is originally from Sialkot, Pakistan, and Rajendra's father moved to India at the time of partition.
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Why Varun, Mamata Faked a Foreign Degree
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Earlier this week, Varun Gandhi was revealed to have done a Mamata Banerjee. The BJP politician's claim of holding degrees from the London School of
Economics (LSE) and London's School of Oriental and African Studies (SOAS) were found inaccurate. The revelations seemed to echo the row over Trinamool Congress chief Mamata Banerjee's much-flaunted doctoral degree from East Georgia University a few years ago. The university, it was discovered, didn't exist.
But Gandhi and Banerjee may be just the two better-known faces of a rampant Indian problem. By all accounts, it's common to find doctors, engineers, professors and businessmen flaunting fancy foreign degrees, many of which are fake.
So, are Indians simply so hung up about a 'phoren' degree they want one even though they have no claim to it? Is this proof we love all things 'phoren'? Or do we have a talent and aptitude for deception and fakery? "Foreign things have a status value which the swadeshi doesn't," says social scientist Shiv Vishwanathan. In other words, another instance of our love of the foreign tag, a colonial hangover.
More important, when people tom-tom degrees from non-existent universities, it should be seen as an "appeal to an intellect they don't possess", adds Vishwanathan.
Dipankar Gupta, professor of sociology at Delhi's Jawaharlal Nehru University says that "a degree from either the UK or the US matters a lot (to) people in the developing world". But he adds that any dispassionate analysis shows "that some international universities are superior to ours and it helps to study there. But for many, it's not about acquiring knowledge, it's about showing off."
It is a platitude that India still prizes education above most other attributes. A highly qualified person commands more respect than one without. This increases manifold if the degree is from, say Oxford or Cambridge.
But Gupta says it's surprising prominent Indians flaunt real or fake foreign degrees. "It just shows their hypocrisy. They need either foreigners or foreign degrees to prop them up."
Headhunters admit false educational achievements on resumes are a besetting headache.
Ronesh Puri, MD of headhunter Executive Access, says, "At least 30-40% resumes are incorrect." Vishwanathan says this trend shows the "second-rate understanding of education."
Similarly, the resume of Ashwin Kapadia, vice-chancellor of South Gujarat University, claimed he had a Ph D in alternative medicine from a Sri Lankan university. But it didn't exist.
Sometimes, discovery of a fake degree can save lives. A few years ago, police caught 'Dr' Vikramjeet Singh, who claimed a degree from the Karanganda Medical Institute in Kazakhastan. He was employed by a Delhi hospital.
The University Grants Commission has published a list of 22 fake universities. Uttar Pradesh topped it with nine. The only cheering detail is Indians aren't the only ones flaunting fake universities. It's a reality everywhere. It says something that John Bear and Allen Ezell's study of the history and the economics of the slide toward fake degrees is titled 'Degree Mills, The Billion Dollar Industry That Has Sold Over A Million Fake Diplomas'.
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Earlier this week, Varun Gandhi was revealed to have done a Mamata Banerjee. The BJP politician's claim of holding degrees from the London School of
Economics (LSE) and London's School of Oriental and African Studies (SOAS) were found inaccurate. The revelations seemed to echo the row over Trinamool Congress chief Mamata Banerjee's much-flaunted doctoral degree from East Georgia University a few years ago. The university, it was discovered, didn't exist.
But Gandhi and Banerjee may be just the two better-known faces of a rampant Indian problem. By all accounts, it's common to find doctors, engineers, professors and businessmen flaunting fancy foreign degrees, many of which are fake.
So, are Indians simply so hung up about a 'phoren' degree they want one even though they have no claim to it? Is this proof we love all things 'phoren'? Or do we have a talent and aptitude for deception and fakery? "Foreign things have a status value which the swadeshi doesn't," says social scientist Shiv Vishwanathan. In other words, another instance of our love of the foreign tag, a colonial hangover.
More important, when people tom-tom degrees from non-existent universities, it should be seen as an "appeal to an intellect they don't possess", adds Vishwanathan.
Dipankar Gupta, professor of sociology at Delhi's Jawaharlal Nehru University says that "a degree from either the UK or the US matters a lot (to) people in the developing world". But he adds that any dispassionate analysis shows "that some international universities are superior to ours and it helps to study there. But for many, it's not about acquiring knowledge, it's about showing off."
It is a platitude that India still prizes education above most other attributes. A highly qualified person commands more respect than one without. This increases manifold if the degree is from, say Oxford or Cambridge.
But Gupta says it's surprising prominent Indians flaunt real or fake foreign degrees. "It just shows their hypocrisy. They need either foreigners or foreign degrees to prop them up."
Headhunters admit false educational achievements on resumes are a besetting headache.
Ronesh Puri, MD of headhunter Executive Access, says, "At least 30-40% resumes are incorrect." Vishwanathan says this trend shows the "second-rate understanding of education."
Similarly, the resume of Ashwin Kapadia, vice-chancellor of South Gujarat University, claimed he had a Ph D in alternative medicine from a Sri Lankan university. But it didn't exist.
Sometimes, discovery of a fake degree can save lives. A few years ago, police caught 'Dr' Vikramjeet Singh, who claimed a degree from the Karanganda Medical Institute in Kazakhastan. He was employed by a Delhi hospital.
The University Grants Commission has published a list of 22 fake universities. Uttar Pradesh topped it with nine. The only cheering detail is Indians aren't the only ones flaunting fake universities. It's a reality everywhere. It says something that John Bear and Allen Ezell's study of the history and the economics of the slide toward fake degrees is titled 'Degree Mills, The Billion Dollar Industry That Has Sold Over A Million Fake Diplomas'.
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