Sunday, June 21, 2020

Impact of demonetization on Indian economy!

Demonetisation perhaps has been the boldest decision by Modi Government.

Demonetization drive has been widely debated ever since the government's surprise announcement in early November 2016 that it would invalidate billions of 500- and 1,000-rupee banknotes.

.Whether it has helped the economic development or not can not be answered in one sentence. Lets have a look at the objective of the move and to what extent it has achieved its purpose……

Economic Affairs Secretary S.C. Garg said the objectives of the note ban such as checking black money, terror financing, promoting digital transaction and weeding out fake currency notes had been achieved. “I think demonetisation has achieved its objective quite substantially."

Objectives:-

  1. Black money- The government estimated that ₹3 lakh crore, or approximately 20%, of the demonetized banknotes would be permanently removed from circulation. It was expected to reduce fiscal deficit to that extent. [58]However, according to a 2018 report from the RBI, approximately 99.3% of the demonetised banknotes, or ₹15.30 lakh crore of the ₹15.41 lakh crore that had been demonetised, were deposited with the banking system.
  2. Counterfeit banknotes-After demonetisation, there was an increase in the number of counterfeit ₹100 and ₹50 banknotes. The number of counterfeit ₹500and ₹1,000 (demonetised version) banknotes saw an increase in 2016-17 and subsequently a decline in 2017-18. But in 2017-18, there was an increase in counterfeit ₹500 and ₹2,000 (new version) banknotes than the previous year. There has been no significant change in the number of counterfeit banknotes detected. In 2017-18, the number of detected counterfeit banknotes was close to the number before
  1. Tax collection- The number of income tax returns filing increased from 43.3 million to 52.9 million between financial year 2016 and 2017 which was not a significant increase compared to increase between 2015 and 2016. The tax compliance had increased with number of income tax returns filing increased but majority of them were from salaried and non-business class.The income tax collections increased in financial year 2017 due to Income Disclosure Scheme 2016. If adjusted for it, the increase in tax collection was modest. The tax-to-GDP ratio has increased due to expanding tax base.

An analysis of the economic data shows that there has been no substantial increase in the number of new tax payers or direct tax collection due to demonetisation

4. Digital payments-The push for the digital payments was one of the stated intention of the demonetisation. There was immediate and sharp jump in the digital payments in November–December 2016 owing to shortage of cash. However after return of the cash, the growth in digital payment had been modest. The currency-to-GDP ratio was 12.1% in 2015-16. It declined to 8.8% in 2016-17 due to demonetisation but increased again to 10.9% in 2017-18. The currency-to-GDP ratio was only marginally lower compared to level before

5. Terrorism and internal security-Initially there was a decrease in the activities and attacks by Maoist and Naxalite radical groups which was attributed to lack of finance following demonetisation. The surrender rate had reached its highest. The activities returned within few months. There was a decrease in the terror activities in Jammu and Kashmir.

6. Banknotes in circulation-On 28 October 2016 the total banknotes in circulation in India were valued at ₹17.77 lakh crore (US$260 billion)The volume of banknotes in the market increased by 2.1%. The banknotes in circulation had further increased to ₹19.5 lakh crore (US$280 billion) in September 2018 and ₹21.41 lakh crore(US$310 billion) in March 2019, 19.14% higher than the level before demonetisation.

Lets now study the other effects:

  1. Cash shortage-The scarcity of cash due to demonetisation led to chaos, and people faced difficulties in depositing or exchanging the demonetised banknotes due to long queues outside banks and ATMs across India. The ATMs were short of cash for months after demonetisation.
  1. Transportation-The All India Motor Transport Congress claimed that about 800,000 truck drivers and conductors were affected with shortage of cash, with around 400,000 trucks stranded at major highways across India
  2. Stock market- As a combined effect of demonetisation and US presidential election, the stock market indices dropped to an around six-month low in the week following the announcement. The day after the demonetisation announcement, BSE SENSEX crashed nearly 1,689 points and NIFTY 50 plunged by over 541 points.
  3. Industrial output -There was a reduction in industrial output as industries were hit by the cash shortage. The growth in eight core sectors such as cement, steel and refinery products, which constitute 38% of the Index of industrial production (IIP), was only to 4.9 percent in November 2016 as compared with 6.6 percent a month ago
  4. Agriculture -Transactions in the agriculture sector are heavily dependent on cash and were adversely affected by the demonetisation. Due to scarcity of the new banknotes, many farmers have insufficient cash to purchase seeds, fertilisers and pesticides needed for the plantation of rabi crops usually sown around mid-November.
  5. Real GDP growth rate-Global analysts cut their forecasts of India's real GDP growth rate for the financial year 2016-17 by 0.5 to 3% due to demonetisation. India's GDP in 2016 is estimated to be US$2.25 trillion, hence, each 1 per cent reduction in growth rate represents a shortfall of US$22.5 billion (₹ 1.54 lakh crore) for the Indian economy.

7. Employment-There was a loss of jobs and decline in wages due to demonetisation, particularly in the unorganised and informal sector and in small enterprises. Migrant workers were adversely affected by demonetisation. According to the Centre for Monitoring Indian Economy (CMIE), demonetisation caused loss of about 15 lakh jobs. The CMIE compared the employment data for January-April 2017 with the figures for the September-December quarter of 2016, when demonetisation was implemented.

8. Deaths[edit]

Several people were reported to have died from standing in queues for hours to exchange their demonetised banknotes. Deaths were also attributed to lack of medical help due to refusal of demonetised banknotes by hospitals. By the end of December 2016, political opposition leaders claimed that over 100 people had died due to demonetisation

Demonetisation could not hit illicit wealth held as real estate, shares, gold, silver and foreign currency. Only smalltime concealers of income keep their money in cash. These include women hiding income from their men, to create a stash they could use to buy gold or in a health emergency. Demonetisation hit such people hard, not the big fish.

Politicians like P Chidambaram and Mamata Banerjee called the demonetisation a big scam which facilitated the conversion of black money. Their argument is fairly simple. They say that the government had expected dividend of close to Rs 4-5 lakh crore, however, the RBI data shows it got just Rs 16,050 crore. So, was it wise decision to lose one per cent GDP for just Rs 16,000 crore? critics ask.

But, would it be fair to see demonetisation from the lens of only windfall margin? Certainly not, the government argues. The demonetisation may not be a grand success as it couldn't achieve stated objective, but calling it a big scam will be a bit of exaggeration and sheer politics.

The government has an entirely different narrative to prove that demonetization has really worked. So what are the government's arguments which made them so confident. Lets dive into the government's logic:

Demonetisation impact on widening of Tax-base:According to the Income Tax, the number of e-returns of Individual taxpayers filed till 5th August 2017 increased to 2.79 crore from 2.22 crore returns filed during the corresponding period of last year, registering an increase of about 57 lakh returns or 25.3 per cent. T

he total number of all returns (electronic + paper) filed during the entire Financial Year 2016-17 was 5.43 crore which is 17.3 per cent more than the returns filed during FY 2015-16.

Demonetisation impact on Direct Tax Collections: The Income Tax Department showed a growth of about 41.79 per cent in the collection of Advance Tax under Personal Income Tax.

Lakhs of shell firms detected: The Prime Minister while speaking on Foundation Day of Institute of Chartered Accountants of India revealed that after the demonetisation over 37,000 shell firms were detected.

14,000 high-value properties under scanner: The Income Tax department released a statement saying the operation clean money exercise which was started after demonetisation has unearthed large number of persons and clusters having suspect transactions. "These include about 14,000 properties of more than Rs.1 crore each where persons have not even filed Income Tax Returns. The investigations are in progress," the statement said.

India's Demonetization Drive: A Necessary Jolt Towards A More Digital Economy?

Salutary benefits from demonetisation in India: IMF -Murray said the demonetisation did cause some temporary disruptions in economic activity, primarily, private consumption and small businesses due to cash shortages. "In the medium term, demonetisation could have possible effects, including through greater formalisation of and the information on economic activities and a more efficient payment system with a greater use of the banking system and digital payments," Murry said.

I would eave it to the readers to draw their own conclusion on Demonetisation in the right perspective. Comments are welcome

Footnotes & References:

  1. https://www.livemint.com/Politics/CKnfEoC8fcir06sTImvYoL/Demonetisation-achieved-its-objectives-substantially-says-g.html
  2. 5 reasons why Narendra Modi’s demonetisation drive will not curb black money
  3. 7 Reasons Why Demonetization Is A Masterstroke By Modi
  4. https://www.ijsr.in/upload/62218017Chapter_35.pdf
  5. Demonetisation fallout: Demand for cash increases by 7% since note ban, says RBI data
  6. https://www.iimb.ac.in/sites/default/files/2018-06/Demonetisation.pdf
  7. Demonetisation's 7 benefits apart from failure to eradicate black money
  8. From GDP growth to black money, costs outweigh benefits of demonetisation
  9. Demonetisation: What India gained, and lost
  10. India's Demonetization Drive: A Necessary Jolt Towards A More Digital Economy?
  11. Salutary benefits from demonetisation in India: IMF
  12. Demonetisation: All cost and little benefit

Saturday, June 20, 2020

What happened to Sushant Singh Rajput?

There has been so many articles on Sushant Singh Rajput last few days. But the nation still finding it difficult to believe that he is no more. Was it simple suicide ? Or he was abated or forced to commit suicide or a situation was created where he was not finding an way out. Some people finding it difficult to believe that he committed suicide, they are doubting it’s the other way out. We can not rule out any possibility.

I can understand that certain people may not have liked him, whatsoever may be the reason. Not everyone likes everybody. But why should all these influential people would join together to harm a person who doesn’t have any means to defend himself, forget about harming them. Sushant didn’t have any godfather in the industry, to help him. What wrong could he have done to antagonize these powerful set of people, that they become hell bound to destroy his carrier and live? If they didn’t like him, they could have ignored him.

But that was not the case. No it could not be case simple disliking or case of nepotism. Somewhere I feel there could be much bigger conspiracy, which was working. A handful few in the industry and their underworld patron wouldn’t like that someone would steal the limelight under their nose and without letting them to wet their beak.

Sushant Singh had all the ingredients to become tomorrow’s Superstar. So these set of people could not let it happen. If he wants to work, he has to work under their banner at their term. They couldn't allow someone to become superstar and not working for them.

With the kind of movies like Kai Po Che, PK, MSD and Chhichhore, Suddha Deshi Romance, Kedarnath….. Sushant was destined to be a mega star. This is where the problem started. This set of influential people couldn’t digest this fact. They could clearly see the prospect of Sushant becoming Superstar. At top there is place for very few, even for movie release dates are few, distribution rights are also controlled by few Already there is huge completion for favorable date of film release. Though there are huge number of producer in Bollywood. But Bollywood film funding has always been shrouded in mistery. Moreover Hindi film industry market is already facing huge encroachment from south Indian movie.

The distribution houses are very powerful lobby, be it Hollywood, Bollywood or Tollywood, they dictate terms. You simply can not sell your movie right as per your wish or at your term. Sushant Singh Rajput wouldn’t have faced any issue, had he not been so promising. Sometime back another promising would be superstar’s carrier almost ruined. People would remember Shahid Kapoor made a very promising start. After giving mega hit like Vivah, Jab We Met etc. he almost vanished. The good thing about him, that he did’t get lost totally and has been able make strong come back. Possibly he has learned few things very dearly and lucky to survive.

Unfortunately inspite being in the industry for so long possibly Sushant made the fatal mistake of understanding the dynamics. Its simply not about only nepotism, its much beyond that. But as usual, I am sure nothing will get proved.

Thursday, June 18, 2020

Is Sushant Singh victim of nepotism and dirty politics of Bollywood?

 am writing on this, because this could be the problem of so many other people. If Sushant Singh Rajput can face this even after being celebrity and successful what is the fate of common people who are not even successful in their personal and professional domain or service carrier. People who are shy, people who are introvert, people who are not comfortable with dancing, playing or expressing, people who are not financially strong, people who are left out in parties faces similar problem day in day out. But do they have to choose to end their life like this?

I am greatly in pained when a bright soul meet such tragic end. All deaths are painful whatever manner it comes. But I am particularly pained when young souls lose respect for their life and decide end their life is such manner. Its death of a hope and dream. They just don’t end themselves, they kill the hope, aspiration and dream of thousand others, people who draw inspiration from their life. All of a sudden they feel the void, that their role model is no more, were they wrong in following him, their confidence start shaking. Which is disastrous and much bigger loss. Its a loss not only to the family but also to the society.

Look at his smile, possibly one of the most warm smile in the Hindi film industry, the smile which was the cause of motivation for millions of his fan to face the challenge of life.

But the angle we are taking here for blaming certain other individual, holding them responsible for this tragedy in some manner, I feel is taking us in a wrong direction. At least it would not help to us to stop such incident in future as well. We may choose to criticize few individual (right or wrong), but it doesn’t have any guarantee that their conscience will change. Nepotism, favoritism, corruption is everywhere and Bollywood is no exception. It starts as early as in our school life, someone become become favorite student sometimes because of merit and sometime for other reasons.

So what do we do ? Look inward ! We have to take responsibility for everything that happens in our life Good or Bad. If we take the credit of good thing happening in our life then we have take 100% responsibility of our failure as well. Yes other people may have their contribution in our failure, but blaming them is not going to solve our problem. We can not change others, but we can surely adapt ourselves.

Sushant Singh didn’t come to Bollywood ,hoping that someone will help him, or his path to stardom would be bed of roses, it never happens to anybody. Otherwise all the brothers of Salman Khan would have been equally successful like him if only nepotism could help them. Sushant became successful because he fought it out, he became successful because of the sincere struggle he made. You can neither be successful or doomed just because few people want you to be successful or wants you to be failure.

He was so young, so vibrant, it was too early to accept defeat, it was fatal error of judgement in life. Unfortunately most of us don’t know how to make peace with life, accept our failure or defeat gracefully. Neither success not failure - nothing permanent. Tendulkar got out on zero so many times, he didn’t quit cricket. He couldn’t have blamed the bowler for bowling an absolutely beauty. Playing easy ball could not have made Tendulkar great batsman.

The world will behave whatever way it wants to. There will be nasty bouncer on your way. There will be close fielders around you to catch you out. Its not necessary that you have to play every ball. You could duck, you could defend it or play for six. You have to decide your course of cation. There would balls that would beat you repeatedly or eventually make you out even on zero. If that can happen with finest batsman in the world, it can happen to anyone. But the game doesn’t get over. You have keep on playing and wait the day when you could pulp out the best bowler in the world. We need to change our approach towards life.

For more such article on life please follow my space Life at its Best 

Image source - Google

Wednesday, June 17, 2020

Why did India make repeated request to Pakistan to open it's air space for PM Modi?

I understand people are a bit perplexed with India Government's move. India can certainly manage with a longer route, that is absolutely not an issue. Rather PM flying over Pakistan could be a security threat. Why then India putting such request ? We have not requested for allowing commercial flights.

There is a bigger reason for this request. You can see both side is continuing the Kartarpur corridor discussion also simultaneously.

People should be very clear about one thing that India is not holding a hostile attitude towards Pakistan neither in past nor now. It's Pakistan who has gone insane with hatred and enmity.

After scrapping of Article 370 Pakistan has unilaterally initiated number of action to degrade diplomatic tie and cut off trade relation. But India has not responded with any counter action. A responsible nation will always behave in a matured manner and avoid taking knee jerk reaction.

If you see the recent actions by Indian Government, none of them were designed to harm Pakistan. The surgical strike and Balakot attack are purely in self defense. Unlike Pakistan's Kargil war we didn't try to capture any post or inflict damage to their army or their defense establishments.

As a nation we are happy with our territorial demarcation. However Pakistan is just opposite, forcibly grabbing & occupying part of Kashmir. Inspite of getting defeated in each of their misadventures, this is one nation which is just not ready to learn from its mistakes.

Removal of Article 370 in J&K is absolutely an internal matter of India. But Pakistan jumped on its horse and started singing war cry. But the problem is that they have no place to go.

Mounting on the horse they tried to go here and there but none let them in. Now how long one can sit on the horse without doing anything? Pakistan knows it jolly well that it can't fight war with India and there is absolutely no justifiable ground to wage war against India.

Any such move from their side will give the golden opportunity to India the legitimate right to fight back and occupy POK. And this time India won't make the mistake of retreat to pre war LOC.

Imran Khan Government is in a fix, no room for movement. Neither able to get down from the war horse, no body requesting them to do so.

Only India can save them from disgrace. Indian request for opening up the air space is an opportunity gifted them to retreat gracefully. They can now say that see India is requesting us for opening the air space. Unless they are given the chance to back off gracefully, given opportunity to vent out their grievance, the situation will remain unnecessary tense. At times it's better to let your enemy salvage some pride. We lose nothing. India doesn't need to humiliate any nation just because we're strong. A bigger nation has bigger responsibility.

You wouldn't hit a bike just because you are riding on a car or truck, even if the bike is on wrong path. This is particularly true when you are riding on a high end sophisticated car. However the pictures could change if you are driving a dumper. The blame will always be on the bigger vehicle in case of an accident. Bikers are known to be a little adventurist. A car or a bigger vehicle has to be much responsible and restrained. You don't get into a race unless you are on a racing track. But there your fellow rider is also on a car and you don't have to hit each other to win.

It could be dangerous for bikers to be adventurous against a dumper. So many accident happens these days. Sincerely hope that we are not forced to change our vehicle. We are happy driving our SUV, making expedition to outer space. We don't want to go for muddy dumper business.

Please appreciate that India is behaving maturedly. We have other important areas to focus. Failure of civilian Government in Pakistan is not a desirable situation for India as well for International community. Collapse of civilian Government will lead to chaos and anarchy. We have seen that in Iraq and Afghanistan. A chaos state along your border would be total nuisance. Democracy should prevail over Pakistan even if paper thin.

It's the rule that the stronger has to extend the helping hand first. We are doing our bit, tomorrow none can blame us that we didn't try to restore normalcy and de-escalate tension. By making this request we have sent a signal of positive and constructive approach.

Some of my friends have were of the opinion that India could have filed for hefty compensation for rejecting our request to use their air Space. Both India and Pakistan are signatory of of CHICAGO convention INTERNATIONAL AIR SERVICES TRANSIT AGREEMENT( IASTA). Since Pakistan has formally rejected two of our request on record, Government of India has the option to approach the council to examine the matter. However Pakistan would always justify its action by citing on going hostile atmosphere. Further I believe India Government wouldn’t like to take up the matter to international forum to avoid any third party interference in any manner.

Sunday, June 14, 2020

Why does India deny rights violation in Kashmir despite proof given by UN?

Why India is denying ? Because the question is not about human right violation in Kashmir. The question is about something else and we have to find the answer somewhere else

Lets go through the chronology some recent events

  1. The 43-page report by the Office of the UN High Commissioner for Human Rights (OHCHR), released on July 8, 2019. India-administered Kashmir - The United Nations has accused India again of human rights violations in Kashmir and has called for the formation of a commission of inquiry into the allegations. The report dated June 2018 published in July 2019. See the timing
  2. US Concerned About Treatment of Muslims in India, Says House Speaker Nancy Pelosi -Pelosi’s comments came during a conversation with Chairman of the U.S.-India Strategic Partnership Forum (USISPF) John Chambers at a Forum event in Washington DC on July 11, 2019

3. Trump’s offer to mediate in Kashmir - US President Donald Trump’s reported remarks on 22nd July, 2019 that Prime Minister Narendra Modi had asked him to mediate between India and Pakistan on the Kashmir dispute. The Ministry of External Affairs has rejected Trump's remarks, made during his meeting with Pakistan Prime Minister Imran Khan (Photo: Reuters)

  • Indian foreign ministry spokesman Raveesh Kumar contradicted Trump’s statements, saying "no such request has been made" by Modi.
  • The US administration on Tuesday went into a damage control mode after President Donald Trump caused a stir by offering to mediate between India and Pakistan on the Kashmir dispute, a proposal that New Delhi promptly rejected.
  • US clarifies that Kashmir is a bilateral issue between India and Pakistan.

'False, motivated narrative'

India rejected the UN report, calling it "false, with a motivated narrative". In a statement, Indian government's spokesperson Raveesh Kumar accused the OHCHR of "legitimising terrorism".

"The assertions in the report are in violation of India's sovereignty and territorial integrity and ignore the core issue of cross-border terrorism," it said.

Countries across continents support India on Kashmir at UN, Pakistan isolated. Not a single country came out in support of either Pakistan or the OHCHR report on Kashmir, while many questioned the timing and the veracity of the report itself.

Many countries came in support of India as it rejected UN's report on Kashmir. The report, based on "remote monitoring" found no takers

Now we can see that all three events are lined up in quick succession one after another in a matter of less than 15 days. Is it part of well laid down design ? Or are the moves politically motivated to corner India, specially after India standing Firm on its deal to buy S 400 system from Russia?

External Affairs Minister S Jaishankar speaks as US Secretary of State Mike Pompeo looks on during their joint press conference following a meeting, in New Delhi (Photo: PTI)

Will do what is in our national interest: India to US on S-400 deal. And after Modi- Trump meeting during G20 summit, where Modi reconfirmed India’s stand on the matter. India told the US that it will go by its national interest on S-400 missile deal.

Now lets try to understand the role UN to protect rights violation

In 2018, Israel became the most condemned nation at the UN -The country received 21 out of 27 UN condemnations for violating basic human rights of Palestinians. .

UN Resolutions Against Israel, 1955-2013 - Total of 77 resolution passes. Between 1968 -2002, Israel has violated 32 UN resolutions. Has UN been able to protect right violation effectively ? Has there been any punitive action against Israel? No! Why ? Because Israel is the closest ally of US

I have nothing against Israel. And Israel has been a friendly nation for India. My only point to highlight is that UN has repeatedly failed in it obligation to protect gross scale violation of human right in war torn countries.

Incidentally US itself welcomed ICC’s rejection to investigate war crimes in Afghanistan

ICC rejects request to investigate war crimes in Afghanistan -The International Criminal Court (ICC) has rejected its prosecutor's request to investigate alleged war crimes in Afghanistan.

Court judges highlighted instability and the lack of co-operation with investigators in the country.

The ruling was hailed by US President Donald Trump as a "major international victory" but human rights group Amnesty International criticised it.

It comes a week after the US revoked ICC prosecutor Fatou Bensouda's visa

Myanmar rejects UN probe findings of Rohingya 'genocide'29 AUG 2018

Myanmar rejected the findings of a UN investigation alleging genocide by its military against the Rohingya, after the US and other countries joined growing calls for them to face justice. The country's government says the allegations are false — and Myanmar has 'zero tolerance' for any human rights violations.

Administrative criticisms of UN

Role of elite countriesThere has been criticism that the five permanent members of the United Nations Security Council (ChinaFranceRussia, the United Kingdom, and the United States), who are all nuclear powers, have created an exclusive nuclear club whose powers are unchecked. Unlike the General Assembly, the United Nations Security Council does not have true international representation. This has led to accusations that the UNSC only addresses the strategic interests and political motives of the permanent members, especially in humanitarian interventions: for example, protecting the oil-rich Kuwaitis in 1991 but poorly protecting resource-poor Rwandans in 1997.

Moral relativism[edit]

In 2004, former ambassador to the UN Dore Gold published a book called Tower of Babble: How the United Nations Has Fueled Global Chaos. The book criticized what it called the organization's moral relativism in the face of (and occasional support of)[1]genocide and terrorism

It's sounds good that UN ( and big brother US ) is concerned about rights violation in Kashmir.

However before doing that UN should check whether it could play an effective role to stop the war and stop human rights violation, when US waged war against Iraq ( with false allegation of WMD ), Afghanistan, Syria, Libya etc. where lacs of innocent people died. Now US is threatening to attack Iran, Isn’t Iran a Muslim country. Forget about Islamic country, any country against which US has waged war for their political and economic interests, aren't people dying there. Is it justified to kill people in millions just for their imperialistic interest. Didn't they Nuked Japan ? What did UN do to stop these war and protect human rights ? Unfortunately UN has very little power to play its role effectively. Its being criticized that UN many a times serve the purpose to accommodate and legalise US ( or the UNSC countries ) view point or act of aggression.

Lets go through some of the List of Atrocities committed by US authorities

The My Lai Massacre is the most notorious war crime in US historyand has become the benchmark to which all acts of American military savagery is compared. On March 16, 1968 It is estimated that over 300 civilians were shot or bayoneted to death during the course of several hours.

Kandahar Massacre, War on Terror

This attack is exceptional in that, unlike others on the list, it was carried out by a single US soldier. In the early hours of March 11, 2012, Staff Sergeant Robert Bales snuck away from his base in the Panjawi district in the Kandahar Province and entered a nearby house. He shot all ten residents, killing six. Bales returned briefly to the base before setting out again to another nearby home, where he killed twelve more and wounded two others. The sixteen people killed that day included nine children.

Middle East:

Starting in June 2017, photos and videos from Syrian civilians in Raqqa showed that the US-backed coalition in Syria was illegally using white phosphorus in civilian areas. White phosphorus can burn human flesh down to the bone, and wounds can reignite up to days later. “No matter how white phosphorus is used, it poses a high risk of horrific and long-lasting harm in crowded cities like Raqqa and Mosul

Over 700 children have been killed US coalition airstrikes in Iraq and Syria since August 2014. The US conducted another airstrike against Syria on June 7th, 2017.

On March 21st, 2017, A US airstrike killed at least 30 Syrian civilians in an airstrike on a school in the Raqqa province. The week before, 49 people were killed when US warplanes fired on a target in in the 2017 al-Jinah airstrike, a village in western Aleppo province.

On March 17th, 2017, A US airstrike killed ~112 civilians in Mosul, Iraq. In response, US Defense Secretary James Mattis said, "There is no military force in the world that is proven more sensitive to civilian casualties."

On February 15th, 2017, US-backed Saudi planes bombed a funeral in Yemen, killing 5 women and wounding dozens more. In the 2015 - Present Yemeni Civil War, 16,200 people have been killed including 10,000 civilians, 3 million have been displaced and left homeless, and over 200,000 people are facing shortages of food, water and medicine.

In 2016, the US under Obama dropped 26,171 bombs in the Middle East and North Africa, up 3000 from the previous year. The countries bombed include Syria, Iraq, Yemen, Afghanistan, Pakistan, Libya, and Somalia. He authorized 10 times more drone strikes than George W Bush.

From 2011 up to the present day, the US ousted Mummar Gaddafi in Libya, and began conducting an extensive bombing campaign (>110 tomahawk cruise missiles) in the Libyan Civil Wars of 2011 and 2014. This includes 7,700 air strikes, resulting in 30,000 -100,000 deaths.

In 2010, Chelsea Manning's leak of the Iraq War Logs revealed US army reports on civilian deaths in Iraq and Afghanistan; 66,081 out of 109,000 recorded deaths were civilians.

In the light of above it is clear that UN or US concern on rights violation can not be taken in face value. And India government rightfully rejected the UN report, calling it "false, with a motivated narrative".

Edit: While I am fully aligned with India Government stand on the subject, I do not support rights violation by any means. Government of India needs to be extra vigilant to stop any right abuse. The need of the hour is to restore normalcy in Kashmir valley. All concerned parties to work together to bring peace to the valley. UN and International community to press Pakistan to desist from all subversive activities and stop interfering in India’s internal matter with immediate effect. UN should pass resolution to condem Pakistan for sponsoring cross border terrorism in India. Sanction should be imposed on Pakistan for waging war against India. Without which gradual demilitarization of the valley and restoration of peace could be a distant dream.

Refernces:

  1. UN Resolutions being violated by countries other than Iraq
  2. UN Resolutions Targeting Israel and Palestinians
  3. Study: Israel leads in ignoring Security Council resolutions
  4. ICC refuses to probe Afghan war crimes
  5. Myanmar rejects UN probe findings of Rohingya 'genocide'
  6. Criticism of the United Nations - Wikipedia
  7. Countries across continents support India on Kashmir at UN, Pakistan isolated
  8. United States war crimes - Wikipedia
  9. Top 10 American War Crimes
  10. https://github.com/dessalines/es

If WB and IMF got India to adopt reforms in 1991, then why do people give credit to Rao and Manmohan Singh for the liberalisation of the economy?

N o, actually they don't deserve any credit for the liberalization of the economy.  Liberalization was actually thrust upon India. Econo...