Bulle Shah

A couple of days ago I was listening to this song by Rabi Shergil "Bulla ki jana main kaun" and the lyrics really touched my heart. Though the lyrics was in Punjabi I was able to understand the most of it as english translation was provided in video.

It ws immidiately clear that these lyrics was written by someone named 'Bulle Shah". So I tried searching for some material or some context of this personality and here is what I found:

Belleh Shah lived between 1680-1757. His real name was Abdullah Shah. He was born in the village of Uch Gilaniyan in Bahawalpur (now in Pakistan). He was a punjabi poet. He practiced the sufi tradition of Punjabi poetry. The style used by him popularly known as Kafi mean refrain, which was used by many contemporary poets like punjabi sufis and sikh gurus.

His poetry was filled with an arrogant critique of religious orthodoxy and more so often of Islam. for example consider this:

Mulla tay mashaalchi dohaan ikko chit
Loukan karday chananan, aap anhairae vich

Mullah and the torch-bearer, both from the same flock
Guiding others; themselves in the dark

He was the advocate of simple concept of humanity. I remember one verse from him which even inspired one of the song in bollywood blockbuster BOBBY. Here it goes:

Masjid dha de, mandir dha de, dha de jo kucch dainda
Par kisi da dil na dhain, Rab dilan vich rehnda..

Tear down the mosque and the temple; break everything in sight
But do not break a person’s heart, it is there that God resides

Bulle Shah's poetry has been more popular among artists in Pakistan. Artists like Wadalis, Abida Parveen, Nusrat Fateh Ali Khan and rock band Junoon have sung his preachings.


In India Rabi Shergil popularised him among masses recently and here is the lyrics for you to enjoy:

Bulleh! ki jaana maen kaun
Na maen momin vich maseet aan
Na maen vich kufar diyan reet aan
Na maen paakaan vich paleet aan
Na maen moosa na pharaun.

Bulleh! ki jaana maen kaun

Na maen andar ved kitaab aan,
Na vich bhangaan na sharaab aan
Na vich rindaan masat kharaab aan
Na vich jaagan na vich saun.

Bulleh! ki jaana maen kaun.

Na vich shaadi na ghamnaaki
Na maen vich paleeti paaki
Na maen aabi na maen khaki
Na maen aatish na maen paun

Bulleh!, ki jaana maen kaun

Na maen arabi na lahori
Na maen hindi shehar nagauri
Na hindu na turak peshawri
Na maen rehnda vich nadaun

Bulla, ki jaana maen kaun

Na maen bheth mazhab da paaya
Ne maen aadam havva jaaya
Na maen apna naam dharaaya
Na vich baitthan na vich bhaun

Bulleh , ki jaana maen kaun

Avval aakhir aap nu jaana
Na koi dooja hor pehchaana
Maethon hor na koi siyaana
Bulla! ooh khadda hai kaun

Bulla, ki jaana maen kaun

New credit policy issued by Reserve Bank of India on Oct 31st, 2006

On October 31st, 2006 Reserve Bank of India (RBI) governer Y V Reddy announced mid-term credit policy.

• The main aspect of this policy is the increase in repo rate by 25 basis points (100 basis points equals 1 percent), while reverse repo rate has been left untouched. So now repo rate shall stand at 7.25%.[Repo rate is the rate at which banks take loan from RBI, and reverse repo rate is the rate at which banks park their money with RBI]

• RBI had earlier given a deadline of Mar'07 to banks for impolementing Basel II norms, however, it has extended the same by two years for banks not having high overseas exposure, and one year for others.


• RBI has raised annual growth rate target for GDP to 8% from earlier estimate of 7.5-8%.


• Inflation target has been kept at 5-5.5%

This whole year vitnessed the dramatic rise in oil prices, from around $ 55 per barrel in January it crossed $78 mark in July. but since then the prices have come down by as much as 20%. Considering this there was no immidiate need to recommend a hike.

Last time US Federal Reserve sit to consider changing its interest rate in August 2006, it decided against any change, this also would mean that there was no immidiate need for a hike.

However since the inception of UPA (United Progressive Alliance, led by Indian National Congress) government at New Delhi, inflation rate seems to in contineous bullish mood. Hon'ble governer had already expressed his concern by saying:

"We are most concerned about the inflationary expectations. Unless there is a convincing reason that oil prices are easing off on a sustained basis, the inflationary expectations will not be significantly altered"
- YV Reddy, Governor, RBI

There could be a lot other factors to be considered, such as:

1. India's growth target. Since India is targetting a growth rate of 10% in its 11th five year plan, it calls against any hike in price hike.

2. Current account deficit. India's current account deficit has widened to $ 6+ billion in FY2007Q1 as compared to around &3.5 billion in FY2006Q1. Thus slowing down the accruation of Forex reserves.

3. State elections. Year 2007 shall vitness elections in states of Uttar Pradesh, Punjab and Uttaranchal. Therefore this is the right time to make any changes rather than waiting for next quarter review in Jan'07. Atleast UPA would like RBI to do the same.

As per news reports coming in, most of the banks have declared that the hike in repo rate would not have much impact on them.

Though it has done nothing much towards the side of interest rates, it has issued a statement that it can consider changes in any rates even before its next scheduled review meeting.

[INPUTS TAKEN FROM MONETARY POLICY ARTICLE SUPPLIED BY SHAREKHAN.COM, AND VARIOUS NEWS SOURCES INCLUDING SOME DAILIES]

Happy Deepawali,

So today is this auspicious date of 21st October 2006. But there is more to this date then just 21st October.

Well, one has to look through Indian Panchangam (Calender) which is based on moon cycles. According to this calender today is Kartika-Amavasya (Kartik is the name of month, and Amavasya is the date when there is no moon). This is the day when all hindus celebrate Deepwali festival.

Deepawali, literally mean Deep+ Awali. Deep are earth lamps in which cotton wicks are burnt in oil, while Awali mean a line. Therefore Deepawali mean lamps in a line. And justifying to its name people actually light such lamps in a row and thus decorate theie premises.

Now, there must be some reason as why is this festival being celebrated as all other festivals in the world have. There are many stories behind the causes of celebration of this festival.

According to most popular belief, several thousands year ago Lord Vishnu had incarnated as Rama, The king of Ayodhya. Ravana, king of Lanka who was demon by nature stole Rama's wife Sita to make her his wife. Rama took the help of monkeys and other animals to kill Ravana and this was on this very day of no moon night of Kartik month that he returned to his kingdom. Upon his return all the residents of Ayodhya welcomed him by lighting earth lamps. It is said that so much was the light created out these lamps that one could not say, if it was a moon night or a day with sun shining.

On this day people clean up their premise and worship Lord Ganesha and Godess Lakshmi. Godess Lakshmi is believed to be godess of wealth. Therefore people worship her and pray her to come to their place to make it her adobe, so that they always have plenty of wealth.

The day carries special significance for businesmen. Businessmen close down their accounts on this day and open new one. So is the significance of the occasion that a special 75 minute trading session called MAHURAT session is organized in the stock exchanges (Bombay Stock Exchange & National Stock Exchange) in India.