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Quaid Najmi

4 January 2025 at 3:26:24 pm

Thackerays’ ‘Taandav’ for trees, tigers

AI generated image Mumbai: Maharashtra Navnirman Sena (MNS) President Raj Thackeray launched a sharp attack on the government for the systematic degradation of the state’s environment under the garb of development, even as the climate change poses a direct threat to the environment, economy, agriculture, public health and the future of both rural and urban centres. Questioning the state government’s claims of having planted millions of trees, he rued how the World Environment Day has been...

Thackerays’ ‘Taandav’ for trees, tigers

AI generated image Mumbai: Maharashtra Navnirman Sena (MNS) President Raj Thackeray launched a sharp attack on the government for the systematic degradation of the state’s environment under the garb of development, even as the climate change poses a direct threat to the environment, economy, agriculture, public health and the future of both rural and urban centres. Questioning the state government’s claims of having planted millions of trees, he rued how the World Environment Day has been reduced to an annual ritual of tree-planting drives and clicking selfies for social media, though 90 pc of the saplings don’t survive even a day. “Only the government knows where those trees really are,” said Raj sternly. He recalled a "Blueprint of Maharashtra’s Development" he had proposed in 2015, in which he advocated how development without environmental sensitivity is hollow. Justifying, he said that the consequences are visible where roads, bridges and infrastructure projects are hailed as achievements, but even a short spell of rainfall can paralyze entire cities. Referring to recent reports on farmers returning from the fields after 10 am due to the scorching heat, Raj said that the worsening climate crisis has become an everyday reality. Citing official statistics, Raj claimed that extreme heat has caused productivity losses of nearly USD 159 billion and slashing of 160 billion work-hours annually in recent years. He mentioned the World Bank estimates that India’s GDP could plummet by 2.5-4.5 pc while 57 pc of the country’s districts sheltering 76 pc of the population stare at serious climate-related crises. Taking a swipe, he said while the governments boast about growth figures and economical rankings, they are silent on the staggering costs of environmental destruction. He questioned the development model “whether flooded cities, washed-away crops and unbearable summers” genuinely indicate progress. Claiming that Maharashtra was increasingly becoming unliveable for upto 8 months in a year, he said excessive monsoon rains disrupt rural life and urban floods cripple cities, while extreme heat make normal life a torture in summers in both urban-rural areas. Targeting the Centre, Raj alleged that nearly 173,984 hectares of forest lands were diverted in the past 11 years for mining and infrastructure projects to benefit the PM’s single favourite Adani Group. He said that these lands amount to 1,730 sqkm, or equivalent to the area of 16 Sanjay Gandhi National Park (SGNP) that is spread over barely 104 sqkm. Dissolve state wildlife board: Aaditya Shiv Sena (UBT) leader Aditya Thackeray has accused the Maharashtra government for issuing a permit to carry out mining activity in the sensitive tiger corridor between the Tadoba-Andhari and Indravati sanctuaries housing the big striped cats. In a strongly-worded letter to the National Tiger Conservation Authority (NTCA) Member-Secretary Sanjay Kumar, Thackeray sought his immediate personal intervention, sacking the Maharashtra State Board for Wild-Life (SBWL), revoking the permit, and probe against the Chief Wildlife Warden & Principal Chief Conservator of Forests (PCCF) M. Srinivasa Reddy for the alleged lacunae. Aditya’s two-pager says the permit has been granted for “scientific exploration and excavation/systematic recovery of low-grade iron ore in existing mines in villages Hedri, Bande, Parsalgondi and Round Parsalgondi, in the Etapalli taluka of Gadchiroli district”. Last January, Aditya – MLA from Worli – had first raised the issue saying that the proposed mine would create only 120 jobs, including 32 permanent, and the estimated output is pegged at 1.1 million tons in a year. Referring to two letters of Reddy – on April 28 and May 21 – the SS (UBT) leader claimed that in communications to the state government, the PCCF had changed his stance on the issue. Aditya said that in the first letter, Reddy had effectively opposed the government plans for mining activity but in the second letter, he took a somersault, ostensibly due to government pressures or some commercial interests, “the U-turn is disgraceful and detrimental to India’s national interest” – and this abrupt shift in stance must be investigated thoroughly. In view of the contrary stance of the PCCF Reddy, entrusted with protecting the wildlife but failing to defend the NTCA and NBWL, point to serious malfunctioning of the SBWL, and hence it must be dissolved, besides reviewing all its decisions in the past three years, particularly those pertaining to hazardous activities in sensitive areas, demanded Aditya. 444 tigers roam in 11,000 sq.km As per the Status of Tiger Report (2002), and the Maharashtra Economic Survey 2025-2026, the state boasts of 444 tigers prowling in the wild along with other menacing creatures. The state’s total protected wildlife network of 88 Notified Areas of National Parks, Sanctuaries, and Conservation Reserves - including 6 dedicated to the striped big cats – is spread over 11,092 sq. kms as per current data.

The Economics Behind PM Modi’s 7-Point Appeal

The appeal reflects an exercise in ‘nudge theory’ — using behavioural change to support macroeconomic stability.

The recent economic appeal by Prime Minister Narendra Modi comes at a critical juncture for the Indian economy. Amidst global uncertainty driven by geopolitical tensions in West Asia and volatile crude oil prices, the government has proposed a 7-point behavioural shift to safeguard our national interests.


From a chartered accountant’s perspective, these suggestions are more than just a call for austerity; they represent a strategic attempt to manage the Current Account Deficit (CAD) and protect the Indian Rupee (INR) without resorting to aggressive monetary tightening.


Macroeconomic Rationale

India continues to rely heavily on imports for crude oil, gold, edible oils and fertilisers. During periods of global uncertainty, higher import bills can place significant pressure on foreign exchange reserves and government finances. By focusing on these sectors, the appeal seeks to conserve foreign exchange reserves, contain imported inflation and strengthen the country’s fiscal and external balance sheets.


Inside the 7-Point Plan

Reduced Fuel Consumption and WFH - The push for work-from-home and public transport is a direct hit at the oil import bill. For businesses, this translates to a shift from fixed costs, which include office rent and utilities, to variable costs. While this improves operating margins for many firms, it poses a valuation risk to the commercial real estate sector and urban retail ecosystems.


Limiting Gold Purchases: Gold is often viewed by CAs as ‘unproductive capital’ because it locks up household savings that could otherwise flow into productive financial assets like mutual funds or the stock market. Discouraging gold purchases helps stabilise the rupee, though it may temporarily dampen the revenue of the jewellery and luxury retail sectors.


The ‘Vocal for Local’ Mandate: Encouraging Indian-made goods is an investment in our MSME sector. Increased demand for local products improves inventory turnover and strengthens domestic supply chains. However, for this to be sustainable, Indian manufacturers must bridge the gap in pricing and innovation to remain competitive against global alternatives.


Domestic Tourism and Forex Conservation: By encouraging domestic travel, the government is essentially trying to stop ‘invisible imports'—the outflow of forex by Indian tourists abroad. While this provides a massive boost to the Indian hospitality and event management industries, it requires rapid infrastructure scaling to meet the demand.


Agriculture and Fertiliser Subsidies: The call to reduce chemical fertilisers is a move toward fiscal discipline. Reducing the government’s massive subsidy burden helps lower the fiscal deficit, though the transition must be managed carefully to ensure it does not impact agricultural yields or food inflation.


From a financial standpoint, the Prime Minister’s appeal is an exercise in Nudge Theory—using social persuasion to achieve macroeconomic stability.


While these measures support economic resilience, their success depends on how businesses and consumers adapt. As CAs, we must monitor the working capital cycles of our clients in the affected sectors and keep a close eye on the RBI’s forex reserve updates over the coming months.


Ultimately, this is a call for ‘economic patriotism'—insulating the Indian economy from external shocks by strengthening our internal consumption patterns.

(The writer is a chartered accountant based in Thane. Views personal.)


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