Monday, 27 June 2016

PM Narendra Modi speaks with Arnab Goswami


Follows the transcript of PM Modi's Interview!
ARNAB: Prime Minister Modi, thank you very much for this interview. Thank you very much.
PM MODI: My greetings to all the people.
ARNAB: This is your first one to one interview to a private news channel since you became Prime Minister. And if I am not mistaken, this is the first ever interview with a sitting Prime Minister of India to a private television news channel in the country. So I would first like to thank you and am very grateful for the opportunity.
PM MODI: The world of the media has grown so big that everybody has to attach themselves to it.
ARNAB: I am very grateful and our viewers will be very grateful also Mr. Modi because they want to hear your views on a range of subjects. Mr Prime Minister I would like to start by taking you back to 20th May 2014. The results came on May 16th. Four days later, you gave a historic speech in the Central Hall of Parliament and you were speaking to the members of Parliament. You had said four days after the results that an era of responsibility has begun. And that you said that in 2019 before the elections, I will come back to this Parliament, I will come back to the MPs and I will give my report card. Forty percent into your tenure, how much have you achieved of your own targets?
PM MODI: When I went for the first time as an MP to the Central Hall, and it was the first time I was seeing the Central Hall. I had not been there before. So I had then said that becoming the Prime Minister was not about the designation of the office but it was about the responsibilities and work of being a PM. I had also said that my government would be committed to the poor. I was completely new in the job. Delhi was new for me. The Delhi environment was new to me. The work of the government of India was also new for me. But despite that, in such a short time, the pace at which the country has moved forward and it's not on one subject. You can pick up any aspect of the government's functioning, and if you make a comparison with the past governments, then you will realize that no issue has been ignored. There has been an effort to bring in something new in every area. There is an effort to bring in a change in every area. One big challenge was that I was not experienced about this place; I had not even been an MP. The office was new, the questions were also new. But when I look at the second biggest challenge, we should remember those days when the country was engulfed in disappointment. The everyday news was about whether there would be any electricity production after seven days, whether coal would be supplied or not. This was the situation then. The entire system was engulfed in disappointment. The big challenge was to inject new trust into the system and create confidence among the citizens. It is very difficult to evaluate this from the outside but I have gone through it. But today I can say with a lot of satisfaction that now there is no trace of any disappointment. The intention to do something is visible. And it's not in words but in actual achievement. I had said that within a given timeframe, we will open bank accounts for the poor. For something that had not been done for 60 years, setting a timeframe for it was in itself a risk. But because of that, a trust was created in the system that it was something doable. So that's the process I started for awakening the confidence. And today you can see that in every sector, the changed circumstances can be seen. While evaluating the performance of this government, never forget that you will have to make that evaluation in comparison with the 10 years of the previous government. Only then will you know where we were and where we are now. We should not be talking about what we are aiming for. For now, you will have to assess the present in comparison with the immediate past and in that you will find a bright future.
ARNAB: Mr. Modi, I want to start now on the issue of foreign policy. In the area of foreign policy, you have taken a great personal interest. The amount of personal interest you have shown in the foreign policy, probably none of the previous Prime Ministers showed the same kind of interest. Your approach is pro active. What I find interesting about your foreign policy is that you have balanced different powers and different interests. On the one side, your relationship with U.S, you made sure that India enters the Missile Control Technology Regime with them. A week before that, you also signed the historic Chabahar Port Agreement with Iran. So, you have balanced very diverse forces. My question to you over this is that is it easy to do that as an Indian Prime Minister? Secondly, on the issue of the NSG, you staked a lot of personal interest, personal push, you lobbied actively. How close are we to getting the NSG seat?
PM MODI: Firstly, about foreign policy, you need to know what has strengthened our foreign policy. For 30 years, in our country, the government was unstable. For 30 years, party with a clear mandate wasn't given the opportunity to form the government. The world measures the government of a nation on the basis of its condition in its own country, on how strong their word is in their own country. I am thankful to the people of this country, that after 30 years, they chose a government with an absolute majority and this has had an impact on world politics. Countries and world leaders have changed their perspective towards India. This is the biggest benefit. Secondly, the world didn't know me. The world wants to know who the head of the state is. If someone would want. to know Modi through the eyes of the media, then he would be disillusioned on which Modi is the real Modi. If this happens, the country will be at a loss. Modi's personality shouldn't be a hindrance for the world to have faith in India. But for that, unless I meet all those leaders and engage with them, one to one, unless I speak to them frankly, they wouldn't know about India's head of state, so it was very important for me as I am not from a political family. I never had the opportunity to meet the world leaders earlier.
ARNAB: You were an unknown entity in foreign policy.
PM MODI: More than foreign policy, it was foreign relations. Yes, I was new to it. So for me, being pro-active was mandatory. Thirdly, we work as a team. The Foreign ministry, Prime Minister's officer, commerce ministry, finance ministry, defence ministry, everyone works as a team, not as separate pieces. The impact that is now visible is not just because of Modi, it is because of the team. All teams work in a particular direction. That is why the impact is seen. Earlier, these teams were splintered. We have seen instances where the party would give a statement, the prime minister would say something else, party leaders would say something else. This disunity has had a negative impact. Thirdly, we also need to understand that earlier the world was bi-polar. Foreign policy used to be centred around two super powers. India was a little late in realizing that this bi-polar situation was for namesake. Now the entire world, in changed circumstances, especially in the 21st century, it is more interdependent and inter-connected, earlier, the foreign policy was possible between governments, but today it is not possible just between governments. Government relations are important but increasing people to people contact is equally important. There's been a shift in paradigm. Because I do not have any previous baggage because I've had a clean slate, I write everything from beginning and that has a benefit. Today we are building relations with countries across the world. The amount of respect with which I engage Saudi Arabia, I engage Iran with the same amount of respect. The amount of respect with which I speak to America, I speak to Russia with the same amount of respect. So we need to understand this. We also need to understand that we shouldn't consider smaller countries insignificant. I abide by this principle.  The small countries of the world are as important as the big nations. We had assumed that the relations with smaller nations would develop under the shadow of the bigger nations. I brought about a change in this. You must have seen that I made a forum for the pacific island nations. We have had two meetings. I went there once and they came here once. These are small countries with a population of about 10 lakh or 20 lakh. But these small island nations are most affected by global warming. When India took up the international solar mission and 122 nations joined it, the island nations benefitted the most out of it. They are 50 in number now. A group of 50 nations feels secured with this vision of India. If we try to understand this change, then we would realize that in the world, a few days back, I was sitting with the officers of our foreign services, so as we got talking, in a very poetic way I told them that there was a time when we used to sit by the sea and count the waves, but the time has now changed, we are done counting waves, now it's time for us to steer ourselves, ride the waves and decide on our direction, destination, and speed.
ARNAB: That is apparent. You have a very aggressive foreign policy. But my second question was, you put so much effort for NSG membership. My question was, how close are we to NSG membership and were you disappointed that we did not make it at the very end because of China's opposition?
PM MODI: Look the first thing is that India has been continuously making these efforts, no matter which government was in office. Be it the membership of the UN Security Council or the SCO membership or MTCR membership or NSG membership. Every government has made an effort. It's not that only this government is trying, it's in continuity. But it's during our tenure that we achieved SCO membership, we also got the MTCR membership. I have full faith that now we have begun a coordinated effort for the NSG membership too. The process has begun on a positive note. Everything has rules and will work accordingly and move forward
ARNAB: Is it the problem of mindset with China? There have been 13 engagements  at various levels between the Narendra Modi government and the Chinese  government. The latest engagement was when you went to Tashkent. You spent  some time with the Chinese President Xi Jinping. Yet it was seen that in the case of  Masood Azhar, China blocked India's UN bid to ban him. Now they have stalled  India's NSG bid. Why is China repeatedly blocking us Mr. Prime Minister despite  your personal proactive measures and your government's outreach?
PM MODI: The first thing is that we have an ongoing dialogue with China and it  should continue to happen. In foreign policy, it's not necessary to have similar views  to have a conversation. Even when the views are contradictory, talks are the only  way forward and problems should be resolved through dialogue. We don't have one  problem with China, we have a whole lot of problems pending with China. Slowly  and steadily, an effort is on to address these issues through talks and make them  less cumbersome. I can say that China has been cooperating with India to search for  solutions. On some issues, it's a question of principles for them. On some issues, it's  a question of principles for us. On some issues, they differ with us and there are  issues on which we differ with them. There are some basic differences. But the most  important thing is that we can speak to China eye-to-eye and put forth India's  interests in the most unambiguous manner. We are a government that takes care of  India's interests. We don't compromise on this. Three days ago I met the Chinese  President. I told him clearly about India's interests. They are a different country, we  are a different country
ARNAB: Do you think you will be able to change their mindset on the issue of NSG  membership?
PM MODI: See the foreign policy is not about changing mindsets. Foreign policy is  about finding the common meeting points. Where do our interests converge and  how much? We have to sit and talk with every country. It's our ongoing effort
ARNAB: This statement that you just made is also apt in the context of America  where you gave a speech in the U.S Congress. By the way, Mr. Prime Minister it was a  fantastic speech
PM MODI: Thank you
ARNAB: There was a lot of humour. You were laughing and cracking jokes while you delivered the speech which was very unique. They also appreciated it. Was the  speech impromptu?
PM MODI: I have a humorous side but these days humour can be a risky thing
ARNAB: Why do you say that?
PM MODI: In this era of 24/7 news channels, anybody can lift a small word and  make a big issue out of it. But I will tell you the truth, the reason for the absence of  humour in public life is this fear. I am myself scared . Earlier when I used to  make speeches, I would make it so humorous but there would never be any issues
ARNAB: Have you become more conscious now?
PM MODI: I am not conscious. I am in fear, there is no humour left in public life because of this fear. Everyone is scared. I am in fear. My speeches used be humorous. I see it in Parliament, that humour is finished there too. It is a matter of concern. I will quote one proverb.
ARNAB: Yes, go ahead.

PM MODI: Even if you mention a proverb, they will connect it with something else and begin a conversation. The one who is saying the proverb does not know what he is speaking.
ARNAB: But you should not lose your sense of humour, Mr. Prime Minister
PM MODI: But it is true that my trip to the United States of America, my speech in  their Congress and the respect shown towards India created a lot of hype. Had it not been hyped so much, there would not have been so much criticism on the NSG  issue. Government is being criticised not for any mishandling of the NSG issue but because we were so successful over there (in the USA)
ARNAB: Did China become conscious of your growing friendship with the US?
PM MODI: I am talking about what's happening here
ARNAB: But when you delivered that speech in the context of America, you used a very  interesting phrase. You said 'We have to overcome the hesitations of history'. My  Hindi is not that good. Like hesitations of history. But my question to you is Mr Prime Minister, how close can we get to America because many Indians believe that America is still supporting Pakistan, giving them military assistance. How close can we get? At what point do we stop before we are seen as an American ally?  What is your own worldview on that?
PM MODI: I would especially like to appeal to my country's media that we should  stop looking at everything in India from the prism of Pakistan. India is an  independent country. It is a country of 125 crore people. Whenever it approaches any country, it will only be concerned about its own interests. It has been our  biggest shortcoming and mistake that we have been tagging ourselves with another  country and trying to do things. We are an independent country, we have our own  policies and future. We have to think about the future of our 125 crore people. There  should be no compromise on our interests. We have relations with America in the  context of these fundamental points
ARNAB: How close can we get to them?
PM MODI: There has been warmth in our relationship. You must have seen the  editorials in American newspapers after my visit to that country. One point  mentioned in those editorials was that the success of Obama's foreign policy has  been the warm relationship with India. This has been said
ARNAB: What you are saying Modiji is that we can be close to America but we need  not be an ally or seen to be an ally?
PM MODI: The first thing is that we no longer live in a bipolar world. The world is  interconnected and interdependent. You will have to connect with everybody at the  same time. Even if there are two opposing countries, they will have to be friends.  Now the times have changed
ARNAB: Mr Modi, on 8th May 2014, I had the opportunity to interview you, the interview took place in Ahmedabad, I think one last phase of elections was left. We were discussing the issue of Pakistan. You have had an uncompromising approach towards Pakistan. Two days back, Lashkar E Toiba killed 8 CRPF jawans in an attack. In the 8th May interview, you put forth a very interesting phrase, you said 'Can talks be heard amidst the noise of bombs, guns and pistols?' This is how you had phrased it.  Do you believe we have been too generous towards Pakistan? Do you believe we have been too generous towards Pakistan?
PM MODI: There are two things. One - India has always wanted friendly ties with its neighbours, there can be no debate around it. We want to live in harmony and peace. And I have said it repeatedly, that India has to fight poverty, Pakistan too has to fight poverty, why don't we come together to fight poverty? I said this before elections and during election campaigns. Also, I had invited leaders of SAARC nations to my swearing in ceremony and they had attended it as well. So there has been no change in our intent, our thoughts and our current behaviour.  Number two - those who have to work from the table, will work from the table and  those who have to work at the border will work at the border with full strength. Each one will fulfil the responsibility entrusted to them. And our jawans are fulfilling their responsibilities. It's true that pressure on terrorists has increased, their schemes are proving unsuccessful. The intent with which they move forward are foiled and they have to face major challenges. It is because of this disappointment that such incidents are taking place and our jawans are risking their lives and protecting the country. We are very proud of our Jawans
ARNAB: When your foreign policy is studied, observers analyse what's happening  and what's not happening. If you give me the opportunity, I want to do a bit of  analysis. There was a terrific pace of engagement with Pakistan between October,  November and December. On 30th November, you met Nawaz Sharif on the  sidelines (of UN Climate Summit in Paris). Both of you were seated on a sofa,  talking to each other. A lot of people were speculating the contents of your  conversation. This was on the sidelines of Climate Summit. After that, all of a  sudden within seven days there were NSA level talks and Ajit Doval spoke to Nasir  Janjua in Bangkok. And again after that you went to Russia via Afghanistan, you  made an unexpected visit to Nawaz Sharif in Lahore. It was a personal trip but it still had some level of importance. Eight days later, Pakistani terrorists attacked  Pathankot. Can you tell our viewers whether Pakistan was proactively responding in the months of October, November and December? Did the Pathankot terror attack change the situation? Is it true that Pakistan was making a lot of movement in  those three months?
PM MODI: Look there are different types of forces operating in Pakistan. But the  government only engages with a democratically elected system. Our effort for that  engagement is continuing. But our supreme objective is peace. Our supreme  objective is to protect India's interests. We keep making an effort toward that objective and sometimes our efforts are successful. As far as meetings and talks are concerned, we signalled right from the day I took the oath and sent invitations for the oath taking ceremony, that we seek friendly relations but without compromising on our interests. And that is why I have said that my country's soldiers have full  freedom to answer back in whatever manner they have to and they will keep doing that
ARNAB: Mr Prime Minister what is the 'Lakshman Rekha' that you would draw  when it comes to Pakistan. There is some confusion surrounding this subject. I  would like you to give an elaborate reply. In 2014, it was believed that if talks are being held, then they should be held between two countries and not with Hurriyat.  It should be between the government of India and the government of Pakistan. The  other 'Lakshman Rekha' is that you must act on 26/11. There's been no forward  movement so far. The third thing is about forward movement on the Pathankot  attack case. So what is the 'Lakshman Rekha' now and if Pakistan remains within  those bounds, so talks can happen at the political level or at any other level?

PM MODI: The first thing is that with Pakistan, to whom do we talk to decide about the 'Lakshman Rekha'. Will it be with the elected government or with other actors?  That is why India will have to be on alert all the time. India will have to be alert  every moment. There can never be any laxity in this. But there is an outcome due to my continuous efforts like my visit to Lahore and my invitation to the Pakistani  Prime Minister to come to India. Now I don't have to explain to the world about India's position. The world is unanimously appreciating India's position. And the  world is seeing that Pakistan is finding it difficult to respond. If we had become an obstacle, then we would have had to explain to the world that we are not that obstacle. Now we don't have to explain to the world. The world knows our intentions. Like on the issue of terrorism, the world never bought India's theory on terrorism. They would sometimes dismiss it by saying that it's your law and order problem. Today the world has to accept what India has been saying about terrorism. India's dialogue on terrorism, the losses India has suffered due to terrorism, the losses suffered by humanity, the world is now acknowledging that. So I believe we have to take this process forward
ARNAB: Mr Prime Minister I now want to move to questions on the economy. In the past two years, you have started many schemes. If we look at the theme of Jan Dhan Yojna for financial inclusion, Pradhan Mantri Faisal Bima Yojna for crop insurance, Swach Bharat, Skill India, Make In India. If we see the theme running through these schemes, is your social agenda at the core of your personal economic philosophy, social transformation? Is the social agenda at the core of your economic philosophy as the Prime Minister?
PM MODI: The first point is our philosophy is to reach the last man in the line. Pandit Deendayal Upadhyay's philosophy forms the core of our political, economic and social ideology. And even Mahatma Gandhi used to say that what is there for the last man? So my development parameter is very simple. It is about how the poorest of the poor can benefit from development. The poor is the central focus of my economic agenda. The poor should be strengthened in such a way that they get the willingness to defeat poverty. By helping the poor make ends meet while they remain in poverty is also one of the ways. I am not saying right or wrong but it's one of the ways. But today the country's situation is such that we should make the poor strong so that they become partners in defeating poverty. All these schemes are meant to empower the poor and change the quality of life. The Pradhan Mantri Jan Dhan Yojna is not only about opening bank accounts for the poor. Because of this, the poor are feeling that they are becoming a part of the country's economic system. The bank that he was seeing from afar, now he is able to enter that bank. This brings about a psychological transformation. Looked at in another way, did you ever imagine that 40 thousand crores could be injected into the banking system by contributions from the poor. The poor who never had bank accounts have deposited 100 rupees, 50 rupees or 200 rupees. It means that poor man saved 100 rupees and the change began in his life. We have taken up construction of toilets. I had gone to Chhattisgarh and had the opportunity to get the blessings of one mother. An adivasi mother heard about the scheme for building toilets. She sold her four goats and built a toilet. That 90 old mother uses a walking stick and goes around the cluster of 30 or 40 houses in the tribal village and has been spreading the message to build toilets. This change is becoming the reason for the change in the quality of life. I have begun the cleanliness campaign. It's estimated an individual spends an average of 7000 rupees for the treatment of a disease. The main reason for disease is filth. The poor suffer the most from the filth. If a poor man falls sick, he cannot drive his rickshaw for two days and his children go hungry. So how can we help the poor bring about change in their lives? Now there is a neo-middle class and a middle class in the country. The young have their aspirations. So another aspect of my policies you must have seen are the Start Up India, Stand Up India, Seaport activity, port activity, railways expansion, railway station up gradation. These changes directly appeal to the middle class. The middle class has its aspirations. Have we to create jobs? How will job creation happen? Till I invest in the development of infrastructure, there be no job creation. You must have seen that the maximum electricity generation since Independence has occurred this year. The maximum amount of coal mined has been in this year. The maximum length of roads being constructed daily is happening in this year. The fastest loading and unloading of steamers at sea ports is happening now. All these changes are creating opportunities for employment like in Startup India, Stand Up India. For instance in Stand Up India, I have said that every bank should give an economic opportunity to one woman, one Dalit or one tribal person to become entrepreneurs. This will create many job opportunities. So this is the basis of my economic philosophy.
ARNAB: Mr Prime Minister if I could interrupt you on this. On the one hand is the people's expectations and on the other is your vision. Many programs that you have mentioned, you can't put a calendar date to it but they don't have an immediate impact. They may be able to show results in 3, 4, 5 maybe beyond 5 years. Now there are challenges in that. Mr Prime Minister, you are aware more than anyone else that people want immediate results. Now you spoke of job creation. The first thing, as an achievement you have managed to grow the economy at 7.5 per cent when the global economic climate is very bleak. You have spoken about it as well. You have met fiscal deficit targets, FDI inflows have increased but people are saying that job opportunities are not increasing. You have spoken about infrastructure but the current rate of unemployment. Mr Prime Minister, the latest Labour Bureau figures, is it a source of concern for you as the Prime Minister?
PM MODI: The first thing is that are 800 million people below the age of 35 in our country. We have to accept that the demand for jobs is very high. But where will they get employment? The investment will come in. It will be used in the infrastructure sector, manufacturing, and services sector. Now like the initiative we have taken, we have started the Mudra Yojna. More than three crore people in the country comprise washermen, barbers, milkman, newspaper vendors, cart vendors. We have given them nearly 1.25 lakh crore rupees without any guarantee. Now why have these people taken the money? To expand their work. When he expands his work, if he is currently employing one person, now he has to employ two people. If there were two employed earlier, now there are three. Now just think, when 3 crores of these small businesses have got access to finance, they must have expanded their work. Now all this is not in the Labour Department's registration. Three crore people have expanded their work. We took another small decision. The big malls in the country run 365 days a year but the smaller shops have to close on holidays. We announced in the Budget that even a small shopkeeper can operate his shop till late night and that too on all the seven days of the week. If the malls don't have restrictions then why should the small shopkeepers have restrictions. So now if a shopkeeper operates his shop till late and on all seven days, if he earlier employed one person, now he will have to employ two people. So won't the employment increase?
ARNAB: So is your focus on entrepreneurship?
PM MODI: Our focus is on all aspects. Now we are saying that by 2022 we want to ensure that everyone has a house. The housing sector has the maximum potential for creating employment. Houses will be built in such huge numbers, how many people will get employment? You must have seen that last year we brought in a textile policy. Under this textile policy, there will be income tax benefits for those who create employment. The more employment one creates, the more tax benefits they will get. For the first time, employment generation and tax has been linked. These are the things that boost employment and our central focus is creating employment for the ordinary citizen
ARNAB: Mr Prime Minister, questions are also being raised on food inflation which has still not decreased. The expectation was that the food inflation would decline. The people had put their hopes on the Prime Minister that you will bring down prices. This not only has a political impact but also has a social impact. Over the past two weeks, there were reports that in some places the price of Arhar dal had touched 150 rupees and 200 rupees for other pulses. The price of tomatoes was also rising. Is this only seasonal because the food inflation is increasing at 7.5 per cent year on year. Global oil prices have fallen. Do you think this creates perception issues for your government?
PM MODI: You can't view inflation as a perception issue. Price rise should be seen as a reality. What is available for a consumer should be seen for what it is. There should never be an attempt to view price rise as a perception issue as a means of escaping the reality of price rise. We will have to accept reality. You see the fast pace at which prices were rising under the previous government, today that speed has decelerated a lot. You can see the statistics, you will find it there. Second, the country has gone through two consecutive years of severe drought. Drought has a direct impact on the price of vegetables, food and pulses because all these things are produced from the soil. Now when there is such a big drought, it's not in anybody's hands. The second option in such a situation is imports. The Indian government has imported pulses in huge quantities. Third, it is the joint responsibility of the state and Central governments. It is not exclusively the state's responsibility. It is not exclusively the Centre's responsibility. It is the joint responsibility of both the state and Central governments. This should not be an issue of blame game that the state government did not do certain things and that the Centre did not do certain things. But it will have to be agreed that it is the joint responsibility of both. That is why the Centre has given rights to the states to make stringent laws. How much stocks to keep or not to keep are decisions which the states can take. All these rights have been given to the states. Some states have performed well, some states are trying. But the Centre and state governments are trying to work together on this. I believe that we have been successful to the extent that the speed with which prices were rising (under UPA), what would have happened if the prices were to rise at that speed. We have been successful in stopping that speedy rise of prices. But as far as pulses are concerned, production in India has been very low. Many farmers who were earlier sowing pulses have started cultivating sugar. That is also an area of concern. We gave special incentives for pulses. We have tried to set up a different MSP for pulses. We have taken steps to procure pulses from farmers with bonus. Our focus is on increasing the production of pulses. We are also focusing on building stocks of pulses by importing from abroad. An all-out effort is being made and I believe that nobody doubts the sincerity of this government. 

Tuesday, 29 March 2016

Seasoning MBA Application @ US – Part 4 – Employability and Finance Post MBA

MBA Admissions Race Part 4

MBA is a life changing option, I learnt in the due course of time. Yes, entering into the part 4, the last part of my Admissions Race. I have now got admitted into a top B-School though I am not sure if I will accept that offer.

It is a very big investment for a normal person from Asia or other developing countries where the average salary is less than 2000 USD per month. Good Schools will get you good offers, average schools get you average offers. Reading back to the Season 1, you need to choose the group where you will be able to suit up.

If your primary goal is all about getting an offer letter from a top company like Deloitte or BCG or others then the move should be very cautious. Yes, getting placed is more important because your mindset is too poor to get only an offer letter after MBA. If you consider taking up a risk of being an entrepreneur I would have rather appreciated your move and there is a value for your MBA and the alumni base. Most of the MBA Grads will get at least 1 offer within 3 months of the completion of the course, don't ask me about the Title or Package as it depends on the institute you have chosen.

Note that there are highly paying jobs, but still you should understand the practical situation that the highly paid jobs are trapped only by 1% of the total successful outcomers. Always have a Plan B, life is full of uncertainty.

On an average the course fees in US is around 75000 USD ++, you would need almost 3 years to repay the same if you have a decent job and staying away from the family and family expenditure.

More strategic plans for solving the Expenditures and financing the MBA is discussed in my upcoming book with various case studies.

Thanks for reading my posts constantly.

Sunday, 6 March 2016

Seasoning MBA Applications – Part 3 – Evaluation

My Part 2 of Seasoning MBA Applications begun with BIG THANKS and now my Part 3 of Seasoning MBA Applications beings with an Extra Large THANKS and apologies for the delay. This is a 4 part experience based information guide.
The following are the 4 parts:
  • Seasoning MBA Applications – Part 1 – Basics
  • Seasoning MBA Applications – Part 2 – What they need?
  • Seasoning MBA Applications – Part 3 – How they evaluate?
  • Seasoning MBA Applications – Part 4 – Employability and Finance Post MBA
MBA Admissions Race Part 3
I will describe the reason for the delay in the later part of my post. Evaluation is the most critical part of one's MBA application and one's judgment. You read it right, Individual Applicant's Application and Judgement of the Admissions Office(r). I tried to attempt a DDoS ( :P ) in each and every location where I applied for or my bro applied for. Most of the schools use the rubric as the key methodology. A stern analysis was done when the admissions officer gave her decision over the phone or email. If one has seriously taken the process of the application while opening that decision email, you pulse rate should be abnormal. Oh, I read the decisions in the restroom!
I wanted to take the rest of the process into two phases i.e. what to do and what not to do!

 MBA Applications - What to DO?

Firstly, you need to have good academic scores if you are a fresh graduate. Yes, they have a strong influence on how the admissions are about to proceed. Also, the base institute accounts to the Admissions Officer to ensure your capability. If you had been in Military Services (only US), then the chances of relaxation are bit higher. Though most of the Universities in the US do a holistic approach, still when facts are considered for the admissions, this score plays a key role.
As said earlier, if you have taken up GMAT, well and good. If you have not taken up GMAT, instead you have a GRE score, do convert the same officially in ETS website. Most of the top 50 B-Schools expects to have over 80% of the score either it be GRE or GMAT. Reiterating, for those who have taken GRE and planning for MBA, please take-up GMAT immediately. And some schools also require IELTS / TOEFL tests to be taken, check their requirements and be prepared. All the test scores are valid for 5 years only.
There is a term called the legacy, yes you could have seen this question in most of the applications if you have started applying for. "Are your parents alumni of this B-School or University?". If your parents are alumni of the institute you have a greater advantage over the normal applicant. Again would like to warn you that there could be the competition or race between legacies. Certain institutes accepting only 15% of the applications are prioritizing their admissions for these candidates.
The next factor is the TALENT. Applicants having admitted into those B-Schools have an extraordinary skill or proved talents. If the B-School is questioning "What is the major achievement in your life?" and if you are responding, "I am father or mother for a son and a daughter!", it will give laughter in the screening committee, but will not give you an admission. Say something unique about you, try to convince the admissions officer that you are fit to enter into their B-School. Only tests and scores are not the life and that is not expected from an MBA Candidate at any point in time.
Course interest should be clearly exhibited in your application. For the case, if you are planning for Finance some courses related to Finance and/or prior experience in Finance is recommended. This will increase the chance of getting the admission into the school.
Essays! Most or even ALL  the schools do require you to submit the essay(s). They determine various factors about you and they speak a lot even more what you could speak in the interview literally. There is only a thin line between the case of being accepted and the case of being rejected. You can easily overcome this thin line with your essay. In the entire application process, while filling the application, an applicant have control over only this part. The style of your essay should such pleasing that the Admissions Officer is upvoting your application. They should internally feel that they have to meet the candidate or speak with the candidate to learn more about them. The strategy of handling the process of compiling the essay should be speaking both your personal life as well as your Professional Life. Writing something mundane would be easy, but not worthy. B-Schools see for the perfection and crispness of expressing your contents publically.
Work Experience could play a vital role in the eligibility of the MBA admissions at the UK, but as far as considered for the US even some top schools are accepting the applications from freshers. In my point of view, I could say that this is absolutely ridiculous and cannot be accepted. For a good MBA, it requires a minimum of 5 years experience along with  2 years of the managerial role as at least Team Leader. Without this, he / she can theoretically gain MBA, but the actual fruit cannot be tasted.
Recommendation Letter indicates your performance as an employee or as a reporting head. First and foremost beware that if you are an excellent employee of the organization, he wouldn't love to miss you from the organization. He would act as a clown and help you greatly to turn down your application. Be straight forward and don't bluff or provide ballant information for the recommender to pull in. Mind that most of the applicants are better forger in the case of Recommendation Letters as they train their recommender to complete the forms.
Resumes should be strictly 1 Page Resume in U.S. style. Don't go for the normal 3 or 4-page resumes. First understand what to be said and what not to be said. I happened to read a resume which indexed the total family into it. Also, it had information about their 2 dogs. Apparently I have 3 dogs but never mentioned in any of the application.
Extra Curricular Activities or volunteering activity doesn't only includes giving food to the poor or homeless. There are many activities around the world. Serving as an Honorary Chairman is also a volunteering activity. When your academic scores are not that great, I recommend you to have more and more activities. A track record of prior community service and extracurricular activities is a good indicator of community engagement at business school as well as another opportunity to assess some caliber of the applicant.
[ecko_quote source="KK"]MBA gives you an opportunity to be HIRED, but it doesn't TRAIN you....[/ecko_quote]
Awards and accomplishments are more important for exhibiting how you are better than the others racing on the same track. This says how you are better when compared to others.
Confess Things in the optional essay whatever be deficient in your entire application. Let it be a low GMAT Score or low GPA or whatever be the case relating to your application. This will make the Admissions Officer little bit confident about the movement of the application.
Interviews are just again another step of your application process and you are going to lively replicate what you have quoted in the application. If you are comfortable in making for the in-person interview, go ahead. Or else make it online or through other sources. A notable stuff here is Eli Broad College of Business of Michigan State University had a pre-interview which was through an automated stuff. That was pretty cool, but it fails. The reason is it has a set of 5 questions and the time for getting prepared is only 30 seconds. For a good practice session, one can create dummy accounts and attempt it, as well as finding the link is also difficult.
Application Interests is the last but not the least. The admission officers of top rated b-school will look for the interest of the student on their application. Interest translates to campus visits, emails, and phone calls. But be careful that you are also not exploiting these options. Attitude matters here.

MBA Applications - What not to DO?

Send application without Proofing - This is the most common mistake every MBA applicant would do in their first application, by mistake. Please read through the entire contents and do a spell check of the entire document before submission.
Send application without filling all the particulars - Certain important facts about the applicant which would haven't been marked as the Mandatory field could have been skipped. The best example is listing all the employments is recommended but only the last employment would have been marked as a mandate.
Send application beyond the deadline - These days, the applications are online. But still they have categorized Early Action Round, Round 1, Round 2 and so on. I would personally prefer you to be ready for Early Action Round rather thinking about further rounds if you wish to get admitted into the top schools.
Sending application without sticking to the guidelines - Do never cross the limits nor drop to a greater point. Yes, you need to stick on to the instructions provided in the description point. Violating them will make the Admissions Officer unstable with your application. Mostly if the essays are limited to 500 words, stick to it. Yes, you know a lot, but the AO is not having that much to time to read it.
Send application without basic homework - Understand the application process and how it is connected with each other. The chain should be perfect without any break.
Send application with mispresented Facts - Another area who try to exaggerate themselves use to have this information in their application. The Admissions Officer will surely know your ability and this could lead you into a big trouble even later.
Send application with low attitude or immature style - Doing something creative is important, but at the same time, doing something clumsy will affect your acceptance rate.
Excessive Application Interest should be avoided, if you are performing a top-down approach then you should have heard about reaching the admissions office through email or phone. Don't perform it too much.
Bad Recommendation Letters - Off my ascertaining in the past days, I saw a recommendation letter from his friend. Choose the best recommenders for your life. Yes, your friend can say about you very well, but cannot judge you with his information.
Bad Resumes are one of the bad pointers in your application. Giving 7 pages resume or biography is not recommended. I am trying to spot out the right template, still stuck up. Will get it shortly.
Selecting schools are more important. First have a look at the class profile and ensure that you will fit into that group.
Will meet you back in part 4 shortly, until then a bye...

Sunday, 14 February 2016

Seasoning MBA Application @ US - Part 1 - Basics

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Oh! Yes, this segment is completely a new topic when comparing all my previous posts. Planned to complete in 4 Parts. Will see. :-)

The following are the 4 parts:

  • Seasoning MBA Applications - Part 1 - Basics
  • Seasoning MBA Applications - Part 2 - What they need?
  • Seasoning MBA Applications - Part 3 - How they evaluate?
  • Seasoning MBA Applications - Part 4 - Employability and Finance Post MBA

There is a strong reason for composing this post now. Yes, few might have been aware about of the reason whilst most of them wouldn't know the reason. It is the real time to confess on this stuff. I would like to pursue my full-time Master in Business Administration in a reputed institute. Reiterating, FULL-TIME.

The goal was little bit budding within me since 2013 when there was a spoof content in some website defaming me. Left it uncared due to the vigorous other works including various Governmental and Inter-Governmental tasks. Added a fame to my thought, I discussed with one of my best, close and mentally intimate friend in the early 2015. To my surprise even he was having the same idea and he never revealed it to me as he is an psychopathic attitude guy. Started searching for the Best Ranked B-Schools.

We both applied for few Universities and we had invitation from few Universities. I wanted to pursue my MBA along with my NBRS [Non-Blood Related Sibling] owing for various reasons. Will be analyzing my case and will strictly discuss my case here, as I don't have any rights or permission from him to discuss about his case though I know each and every detail about him and his application.

So before proceeding, I wanted to give some information about my application. With almost 6.5 years of Entrepreneurial and Governmental Experience I have started my applications. I took up GRE instead of GMAT test as the entry requirement and was on an average of 35 percentile. My Under-Grad GPA was 3.67 out of 4.0. I had almost 192 research publications, 4 patents and wide international exposure.

It was lovely to get re-connected with various people whom we had connection before bunch of years, had recommendation and references from an University Professor, Chairman of Deloitte, Partner of EY and others. My application got through at some universities luckily or by some unknown means. Unfortunately my NBRS didn't even get invitations. You could learn what an US MBA Admissions Committee member is looking from you out of your application in Part 2.

First thing about the applications are that you going to enter into a lottery program. Pray Well before starting. You should understand that each and every application is a time consuming process and dedicated time should be allocated for each and every case. With all my experiences, total time required on an average for 1 application is 8 - 14 hours if you are genuinely filling in all the particulars without CCP (Cut/Copy/Paste) Technique. Following which there is a standard rule that you have a very professional email ID which is being used for these application process.

Some of the bad email IDs are as follows.

  • robertthedatingguy@gmail.com
  • petertheseducer@gmail.com
  • stb.waitingtodate@gmail.com
Some of the professional free email IDs are as follows.
  • robert.a@gmail.com
  • peter.brook@gmail.com
  • swaminathan.thangapan@gmail.com
Use the same email ID from GRE / GMAT to the final stage of the application. Never change the email IDs inbetween as per your wish.

Concentrate on the Essay Part as they define who you are actually to the AdCom (Admissions Committee) members. The recommendation also holds certain quantum of value for the application and this will be discussed in Part 3 of this season. Be truthful for what you fill-in. Prepare a business resume which is short and crisp. The resume should have only 67% - 69% of text on the total frame. Some B-Schools do have Video Interview before the actual screening of your application, ensure that you face them with full of confidence and attitude.

Transcripts, most of the B-Schools do ask your transcripts to be evaluated by WES / ECE who are accredited by the NACES. Please do scan your transcripts legibly.

The last one is the Application Fee, for countries like India / China / Korea / African region the application fee is a big issue because of the very low currency values. On an average per application submission fees would be USD 100 and when you submit 10 applications it would cost you USD 1000 which is almost twice the salary earned by a normal professional with 5 years of experience. The investment should carry your worth. If you know that you will not be selected in Harvard Business School, even then applying for the same could make you to lose your hard earned money. See the median score of GMAT and the class profile. Put yourself into those positions and see if you could fit into it.

And before concluding couple of bonus points:

GRE vs GMAT

GRE is applicable for MS as well as MBA. Most of the B-Schools in United States of America do consider your GRE score. You are requested to look into ETS website for having the score equivalence. If you have decided to go for MBA, then I do recommend you to go for GMAT strictly as most of the B-School do assume that the applicant was not serious about his MBA career and took GRE to give a best try.

TOFEL / IELTS

Every B-School have their own list of countries which are exempted from taking these English Language Tests. To put in a nut-shell, if the medium of your course was in English language and all your records are in English, you could approach them and request for International Language Test Score waiver.

Will meet you back in Part 2...

Friday, 8 January 2016

Gift Kit for eVisa Tourists to India

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The worst faced problem by any Foreigner visiting to India is the Communication. Getting a SIM card and the tedious activation process by the TRAI pulls back their interest in getting one.
This is an interesting development, and probably a first for any country across the globe. Ministry of Tourism has planned this new initiative, that will help new tourists in India.
Tourists landing in India on e-tourist visa would soon be getting a “gift kit” from Tourism Ministry which would consist of SIM card, among other things.
“This will be gift from Tourism Ministry…it will be handed over to the tourists arriving in India on e-tourist visa,” a Tourism Ministry source said.
The “gift” would consist of a SIM card which the tourists can use for making calls after they have recharged it.
Besides, it would also consist of maps, booklets and CD with information about various tourists destinations, guidelines relating to dos and don’ts, details regarding whom to contact in case of any emergency, among other things.
UK Tourists thronged India  the most in 2015 with over 22.8 percent visitors from that country. US visitor numbers were second highest with 16.70 percent followed by France (7.09%), Germany (7.02%) and Australia (5.53%).
New Delhi Airport received nearly half (50.93%) of all these visitors followed by Mumbai Airport (20.54%), Bengaluru Airport (5.90%) and Chennai Airport (5.61%).
E-visa facility initiated by the Modi Govt. in 2014 is continuing to break all existing tourism records. In the month of August 2015, 724% more International tourists entered the country, compared to previous year in the same period.
In month of October 2015, e-Visa tourist set another record by registering a growth of 1987.9% – A total of 56,477 tourist arrived on e-Tourist Visa as compared to 2,705 during the month of October, 2014.
If you take 10 month period between January to October a total of 2,58,182 tourist arrived on e-Tourist Visa as compared to 21,995 during January-October, 2014 registering a growth of 1073.8% .

Saturday, 14 November 2015

55 Things to Do before You Die

The 55 things listed in a A->Z format. 

1.       Add a Lock to the Love Lock Bridge in Paris
2.       Adopt a rescue pet
3.       Attend a cop-raided party
4.       Bathe in Milk
5.       Break a Guinness World Record
6.       Climb a mountain
7.       Conquer a fear
8.       Disconnect for a week
9.       Donate Blood
10.   Donate your hair for cancer
11.   Drink Beer at Oktoberfest in Germany
12.   Eat something you wouldn’t usually
13.   Feel Great in a Swimsuit
14.   Follow a dream
15.   Get a ‘regrettable make out’ story
16.   Get arrested
17.   Get in a mud fight
18.   Get in an ice snow fight
19.   Get your fortune read
20.   Give a Shelter Pet a Home
21.   Give your lunch to a homeless person
22.   Go on an aimless drive
23.   Go stargazing
24.   Go to a major sporting event
25.   Google yourself
26.   Grow your own food
27.   Host a cocktail party
28.   Host Christmas / Diwali / Ramzan
29.   Karaoke with your Siblings / Best Friends
30.   Learn a foreign language
31.   Learn a new skill
32.   Leave a note for a stranger
33.   Let Go of a Floating Lantern in Thailand
34.   Live in a different country
35.   Make a Call from a London Phone Booth
36.   Make something from scratch
37.   Pilot an aircraft
38.   Practice (Rehearse) Sex with your Friend
39.   Protest something
40.   Research your family tree
41.   Ride in a limo
42.   Skinny dip
43.   Sleep on the beach
44.   Sleep under the stars
45.   Sleepover somewhere haunted
46.   Stay awake for 24 hours
47.   Stop Socializing (Social Media)
48.   Swim in the ocean
49.   Swim under a waterfall
50.   Take a cocktail making course
51.   Take part in a city running event
52.   Visit all seven continents
53.   Volunteer at a soup kitchen
54.   Watch all of the top 100 IMDB Films
55.   Watch all those damn movies everyone keeps talking about

Tuesday, 15 September 2015

Hong Kong - The round clock city to Enjoy

After almost a month, I am back to write at these blogs. 
Hong Kong comes alive at night, abuzz with diners, revelers, theater goers and even market traders still out plying their wares. The nightlife scene is rightly legendary: there is something to do at every time of the day in this city that never sleeps. The nightlife options are too numerous to mention, but below you’ll find just a sample of what’s on offer: from cultural performances through to late-night party venues and midnight feasts. You can also spend a whole night in Wan Chai with our guide to one of the city’s most renowned night owl destinations.
Hong Kong Kokula Krishna Hari K
So you’re after a good time? You’ve definitely come to the right city! Hong Kong boasts entertainment galore and most of it kicks off after sunset. Whether you’re after a classy cocktail in a trendy bar, live entertainment that beats through the night, a late-night snack to quell those hunger pangs or even a midnight run, Hong Kong is the city to oblige.
If you’ve already heard of Hong Kong’s crazy all-night vibe, then it’s surely because of the sheer number of bars of all shapes and sizes. Most first-timers head straight to the thoroughfares of Lan Kwai Fong in Central, which are packed full of bars and nightclubs, with revelers spilling out onto the streets at all hours. However away from this main draw, lots of trendy niche bars are opening up for a slightly more cultural experience.
For a really cultured night out, you should seek out an authentic Cantonese opera performance. Sunbeam Theatre is one of Hong Kong’s most historic theaters, having been founded in 1972 by a troupe of Shanghai immigrants, and it’s renowned for its Chinese traditional art performances—Cantonese opera in particular. Many of the Cantonese opera stars of note will have trod these boards at one point in their careers, so you’ll certainly find authentic performances here, held most days of the week in its two auditoriums. Another unique theater venue with a proud history is the Fringe Club, one of the city’s foremost art spaces that’s been providing a platform for artists since 1984. There is always something creative going on here, so whether you’re after a Shakespeare rendition, a stand-up comedy show, a live music gig, an art exhibition or a poetry evening, then be sure to look up the Fringe Club’s events calendar while you’re here.
If you’re looking for a more active nighttime activity then head out on the Bowen Road Fitness Trail. Positioned half way up to the Peak, this popular 4-kilometer-long running and walking trail is safe and well-lit at night, with lookout points that furnish vistas across to Kowloon and beyond. Mid-way along the route you’ll discover Lovers’ Rock, a boulder which is said to have the power to grant happy marriages. You’ll often find worshippers making a beeline for this pilgrimage site, which sits loftily above the city. Not only is this trail a great location for a spot of nighttime exercise, but you’ll also find memorable skyline views from here, minus the crowds.
Hong Kong’s nightlife is legendary and you’ll be sure to feel the vibe too after trying some of these suggestions. But whatever you do while you’re here, just be sure to capture the city’s skyline view at night—it’s one experience that will stay with you forever. The special crocodile meat available in the mid-night could be one of the most crowdy place.