This great man took physics to the people, and changed the way we think about disabilityThis great man took physics to the people, and changed the way we think about disabilityThis great man took physics to the people, and changed the way we think about disabilityThis great man took physics to the people, and changed the way we think about disability

Few scientists manage to break down the walls of the so-called ivory tower of academia and touch and inspire people who may not otherwise be interested in science. Stephen Hawking was one of these few. Judging by the odds he faced as a young graduate student of physics at Cambridge University, nothing could have been a more remote possibility. When he was about 20 years old, he got the shattering news that he could not work with the great Fred Hoyle for his PhD, as he had aspired to. Around this time he was diagnosed with Amyotrophic Lateral Sclerosis, an incurable motor neurone disease, and given two years to live. Not many would have survived this, let alone excelled in the manner he did. Luckily, the type of ALS he had progressed slowly, and over time he made many discoveries that marked him among the great physicists of his time. His first breakthrough was in the work he did for his PhD thesis. The expanding universe and the unstoppable collapse of a black hole under its own gravity present two extreme spectacles for the physicist to grapple with. Inspired by Roger Penrose’s ideas on the latter, Hawking came up with a singularity theorem for the universe. This work and its extensions, known as the Hawking-Penrose singularity theorems, brought him international acclaim. Later, along with others he formulated the laws of black hole mechanics, which resemble the laws of thermodynamics. Thinking along these lines led him to a contradiction — that this theory predicted that black holes would exude radiation, whereas in a purely classical picture nothing could escape the black hole, not even light. He resolved this contradiction by invoking quantum mechanics. The radiation of the black hole was named Hawking radiation.

There is no doubt that with Hawking’s death the world has lost an outstanding scientist. But he was not only a pathbreaker in the world of science. He came to be known to millions with the publication of A Brief History of Time, his best-selling book describing in non-technical terms the structure, development and fate of the universe. He ranks with Isaac Newton and Albert Einstein as that rare physicist who fired the popular imagination. However, while Newton and Einstein worked on broad canvases, Hawking was focussed on cosmology and gravitation. His was a life that carried to the public not only the secrets of the cosmos but also the promise of hope and human endeavour; he showed that disability need not hold a person back in the pursuit of his dreams. He leaves behind a wealth of knowledge, and also the conviction that the will to survive can overcome all odds.

The great scientific invention

Surprise softening: on RBI's inflation projections

The Reserve Bank of India’s policymakers have acted predictably in opting to keep interest rates unchanged and in retaining the ‘neutral’ stance. Price stability, after all, remains the Monetary Policy Committee’s primary remit, and trend line retail inflation continues to run above its medium-term target of a durable headline inflation reading of 4%. But as with all central bank policy statements, it is not only the action but also what is said that is closely scrutinised for clues on what may lie ahead. The RBI’s bimonthly monetary policy statement, unfortunately, ends up sending mixed messages as its outlook for inflation and assessment of the factors contributing to price gains are at variance. The MPC has appreciably lowered its projections for CPI (consumer price index) inflation for the fourth quarter of 2017-18, and for the new fiscal year. It sees price gains having slowed to 4.5% over January-March — a full 60 basis points lower than the 5.1% pace it had projected in February. Forecasts for the first and second halfs of 2018-19 have also been substantially trimmed. Price gains in the first half are now in the 4.7-5.1% range (as against 5.1-5.6% projected in February), with inflation slowing in the second half to 4.4%.

The key factors cited by the RBI in lowering its inflation projections are a “sharp decline in vegetable prices and significant moderation in fuel group inflation.” In extending the moderation in food prices in February-March as a major driver of the lowered trajectory for price gains in the new financial year, the RBI is not fully convincing on account of an assertion (of a “likely reversal in food prices in H1”) and an assumption (of a “normal monsoon”). Despite a private weather forecaster’s projection of normal rains from June to September, the MPC itself acknowledges the risks that temporally or spatially deficient monsoon rainfall could pose to food prices. Also, policymakers appear to have glossed over the RBI’s March survey of households’ inflation expectations — where prices are seen edging up over the three-month and one-year-ahead horizons — as well as feedback that manufacturers expect input and output prices to rise. Volatility in oil prices too have been played down. The other surprise is the decision to jettison Gross Value Added as the main measure of economic output and switch to Gross Domestic Product. While the assertion that GDP growth will strengthen this fiscal has given investors cause for cheer, the forecast of 7.4% is unchanged from the implicit projection from February. The messaging on the economy could have been clearer and more consistent.

From being hunting trophies to protected species, the lure of blackbucks

“The Wildlife Protection Act, 1972 turned out to be a blessing for blackbucks, chinkaras, tigers and elephants and so many other animal species, a large number of whom were killed by the colonial-rulers and various maharajas as they went on their ‘shikars’ (hunting sport),” she told PTI.

The People for the Ethical Treatment of Animals (PETA), among other animal right groups, on Thursday welcomed the conviction of Bollywood star Salman Khan in the 1998 blackbuck killing case, saying his sentencing will definitely act as a deterrent for other potential offenders.

Blackbucks are protected animals under the Schedule I of the Wildlife Act since 1972. Tiger, leopard, elephant, pangolin, monitor lizards, pythons fall in the same category, Maulekhi said.

Scientifically called, Antilope cervicapra, it is an ungulate species of antelope native to the Indian subcontinent and has a life span of 10-15 years, experts said.

“In 2008, they were declared ‘Near Threatened’ by the International Union for Conservation of Nature (IUCN), but in 2017,were moved to the category of ‘Least Concern’,” she said.

According to IUCNredlist.org, their range declined sharply in the 20th century because of “unsustainable hunting“.

“The blackbuck formerly occurred across almost the whole of the Indian subcontinent south of the Himalaya. Their range decreased during the 20th century and they are now extinct in Bangladesh and Pakistan. Blackbucks are still present in the terai zone of Nepal,” it said.

According to the PETA, blackbucks are an “extremely vulnerable species” and on the “endangered list in India, afforded the highest protection under the WildlifeProtection Act 1972“.

“Threats to them include hunting, destruction of their forest homes, climate change and conflict with villagers,” it said.

PETA India spokesperson Sachin Bangera said all animals who are hunted “suffer immensely“.

“Hunters often severely injure but fail to kill them, and the animals run away and die later slowly of blood loss, gangrene or starvation. Hunting rips animal families apart and leaves countless animals orphaned when mother animals are killed,” he said.

Maulekhi cited examples of the Bishnoi tribes to emphasise the protective spirit espoused by them and also of the nomadic tribe Bawaria in the Himalayas which continue to hunt animals.

“Bishnois revere blackbucks like they revere all animals and plant life. And, it has been felt that though blackbucks stay in the wild, they tend to feel secure in the vicinity of the Bishnoi community,” she said.

In India, they are found across Gujarat, Maharastra, Madhya Pradesh, Rajasthan, Bihar, Karnataka, Tamil Nadu and parts of Andhra Pradesh, the Delhi-based animal activist added.

A herbivore species, blackbucks inhabit open grassland, dry thorn scrub, scrubland and lightly-wooded country as well as agricultural margins, where they are often seen feeding in fields. They are mainly sedentary, but may move longer distances in summer in search of water.

Air India privatisation: High hopes?

Nine months after the Union Cabinet’s in-principle nod for offloading the government’s stake in Air India, the ball has finally been set rolling to privatise the bleeding airline. A preliminary information memorandum was unveiled last week by the Civil Aviation Ministry for prospective bidders. According to this, the Centre will divest 76% of its stake in AI. A 100% stake is being offered in its subsidiary Air India Express, and a 50% stake is on offer in its ground handling operations arm. Other subsidiaries, such as Alliance Air, Hotel Corporation of India, which owns the Centaur properties in New Delhi and Srinagar, Air India Air Transport Services and Air India Engineering Services, are not being sold — they will be transferred to a special purpose entity along with roughly a third of AI’s ₹48,781 crore outstanding debt. Effectively, the government is offering a majority stake in AI and AI Express with management control, as well as a cumulative debt burden worth ₹33,392 crore. For prospective buyers, the attractiveness of AI’s international flying rights and slots would be offset by the possibility of taking on so much debt and putting a plan in place to whittle it down or refinance the loans. Details of the reallocation of these liabilities between AI and AI Express, and the logic behind it, will only be shared with bidders at a later stage when requests for proposals are issued.

Given the uncertainties over its debt burden, it will not be a surprise if those bold enough to make a bid for AI find it difficult to offer a lucrative price to the government. It is worth pausing to see if serious investors are enthused by the government’s decision to retain 24% stake in the airline (which will possibly come with one or two bureaucrats nominated to the airline’s board of directors). In 2016-17, the airline suffered a net loss of ₹5,765 crore, owing mainly to its high interest costs. While debt has been the major reason for AI’s losses in recent years, operational inefficiencies and poor management have been bugbears for long. The government is expected to offload its residual 24% stake at a later date, pinning its hopes on a better valuation after the new owner has fixed the airline’s legacy issues. The real benefit of privatisation will be that the airline will no longer drain taxpayer funds, after thousands of crores have been infused over the years to keep it up and running. That its new owner would get some room to rationalise its large workforce a year after the transaction and the government is thinking of footing the bill for some benefits paid to retired employees, such as complimentary air tickets, sounds good. The government is understandably keen to close the AI sale transaction soon, preferably by early 2019, in order to bolster its reformist credentials. But investors will look for the finer details to ascertain the carrier’s true worth.

The Centre could add a few more changes to make Air India tempting for investors

Nine months after the Union Cabinet’s in-principle nod for offloading the government’s stake in Air India, the ball has finally been set rolling to privatise the bleeding airline. A preliminary information memorandum was unveiled last week by the Civil Aviation Ministry for prospective bidders. According to this, the Centre will divest 76% of its stake in AI. A 100% stake is being offered in its subsidiary Air India Express, and a 50% stake is on offer in its ground handling operations arm. Other subsidiaries, such as Alliance Air, Hotel Corporation of India, which owns the Centaur properties in New Delhi and Srinagar, Air India Air Transport Services and Air India Engineering Services, are not being sold — they will be transferred to a special purpose entity along with roughly a third of AI’s ₹48,781 crore outstanding debt. Effectively, the government is offering a majority stake in AI and AI Express with management control, as well as a cumulative debt burden worth ₹33,392 crore. For prospective buyers, the attractiveness of AI’s international flying rights and slots would be offset by the possibility of taking on so much debt and putting a plan in place to whittle it down or refinance the loans. Details of the reallocation of these liabilities between AI and AI Express, and the logic behind it, will only be shared with bidders at a later stage when requests for proposals are issued.

Given the uncertainties over its debt burden, it will not be a surprise if those bold enough to make a bid for AI find it difficult to offer a lucrative price to the government. It is worth pausing to see if serious investors are enthused by the government’s decision to retain 24% stake in the airline (which will possibly come with one or two bureaucrats nominated to the airline’s board of directors). In 2016-17, the airline suffered a net loss of ₹5,765 crore, owing mainly to its high interest costs. While debt has been the major reason for AI’s losses in recent years, operational inefficiencies and poor management have been bugbears for long. The government is expected to offload its residual 24% stake at a later date, pinning its hopes on a better valuation after the new owner has fixed the airline’s legacy issues. The real benefit of privatisation will be that the airline will no longer drain taxpayer funds, after thousands of crores have been infused over the years to keep it up and running. That its new owner would get some room to rationalise its large workforce a year after the transaction and the government is thinking of footing the bill for some benefits paid to retired employees, such as complimentary air tickets, sounds good. The government is understandably keen to close the AI sale transaction soon, preferably by early 2019, in order to bolster its reformist credentials. But investors will look for the finer details to ascertain the carrier’s true worth.