Hydrodynamical winds from two-temperature plasma in X-ray binaries

Hydrodynamical winds from a spherical two-temperature plasma surrounding a compact object are constructed. The mass-loss rate is computed as a function of electron temperature, optical depth and luminosity of the sphere, the values of which can be constrained by the fitting of the spectral energy distributions for known X-ray binary systems. The sensitive dependence of the mass loss rate with these parameters leads to the identification of two distinct regions in the parameter space separating wind-dominated from non wind dominated systems. A critical optical depth, tau_c, as a function of luminosity and electron temperature, is defined which differentiates these two regions. Systems with optical depths significantly smaller than tau_c are wind-dominated. The results are applied to black hole candidate X-ray binary systems in the hard spectral state (Cyg X-1, GX 339-4 and Nova Muscae), and it is found that the inferred optical depth (tau) is similar to tau_c suggesting that they are wind regulated systems. On the other hand, for X-ray binary systems containing a neutron star (e.g., Cyg X-2) tau is much larger than tau_c indicating the absence of significant hydrodynamical winds.Comment: 9 pages, 4 figures, Accepted for publication in MNRA

Towards a New Federal Architecture: Issues and Challenges

Though India is wedded to a federal structure, its underbelly is often tormented by centre state discords. The bonanza from the 14th Finance Commission (FC), dismantling of the Yojana Bhawan by a Niti Aayog and the likelihood of Goods and Services Tax (GST) passing legislative muster have germinated hopes for a cooperative federalism. The paper brings out the innards of dichotomy that are on display in Human Development Index (HDI) and Gross Domestic Product (GDP) growth, multidimensional deprivations in the rural hinter land and heartless reduction in allocation to critical social sector programs like Integrated Child Development Scheme (ICDS). While the paper highlights the likely benefits that will flow out of GST legislation, it argues for the bolstering our regulatory mechanism, fostering transparent competition and ensuring accountability of all stakeholders so that unregulated free market promote crony capitalism. Keywords: FC, GST, GDP, HDI, ICDS, NITI AAYO

Mahatma Gandhi: A Sesquicentennial Birthday Tribute

Mahatma Gandhi has left his heritage of spiritual force; the influence which emanated from his personality was ineffable, like music, like beauty its claim upon others was great because of its revelation of a spontaneous self-giving. Suffice to say, he never belonged to his age. He was rather a link between the past and future, and the philosopher for the 21st century. In fact, in 2007 the United Nations has rightly decided to observe October 2nd (Gandhi\u27s Birthday) as the Day of Non-violence. As a tribute, especially in 2019 as his birth centennial year, we must recall the saintly man, who preached non-violence, and his ideals that are the potential to address many of our contemporary concerns. DOI: 10.5281/zenodo.387402

Globalization and Consumer Protection in Financial Sector

Globalization has become the buzzword; with TNCs proliferating all across the world, marketing their products and services. This has spurred growth, improved real wages and brought in more FDI and technology to India. However, the global financial crisis (2007-08) has underscored the need to be wary of shadow banking, toxic products like CDOs and conflict of interests of Rating Agencies. Consumers at the lower end of the income spectrum are particularly vulnerable in such unstable systems. The paper brings out the features of the Consumer Protection Act 1986 and its update in the Consumer Protection Bill 2015 and FSLC recommendation for a FRA in the financial sector. It draws upon the experience of countries like USA and European Union who have been brought in a high modicum of consumer protection. The paper calls for unification of all regulatory agencies to ensure a holistic regulation of goods, services, E-commerce and financial products with ICT as a force multiplier. It also underscores the importance of competition and need for CCI to work in tandem with the unified regulator to make consumer protection truly effective. Keywords: FSLC, CCI, ICT, FRA, WTO, EMDF, CDO, FD

Towards Higher Equity and Excellence: Challenges before Higher Education in India

The Gross Enrolment Ratio (GER) in higher education has witnessed a significant fillip from 10% (2000) to 16.7% (2013) thanks to private sector initiatives in the field of technical education. Despite constitutional guarantees for positive discrimination in favour of disadvantaged section there is a huge asymmetry in terms of access for different sections of the society. Overall quality and research and development on a global scale remain a matter of serious concerns. The paper brings out initiatives required to improve quality quotient in higher education: particularly in terms of public private partnership, higher allocation to education and research, FDI inflow so that the goal for achieving GER of 20% by 2020 is in sync with global standards. A unique experiment in KISS Odisha demonstrating convergence of equity and excellence in respect of tribal students has also been brought out. Keywords: Gross Enrolment Ratio, Positive Discrimination, Convergence of Equity and Excellenc

Merit Goods, Education Public Policy– India At Cross Roads

Merit Goods have always received handsome attention and allocation from countries which have witnessed a congruence between high significant economic growth and Human Development Index (HDI). The Emerging Market Economies (EMEs) have become significant manufacturing hubs by universalizing education and improving their Incremental Capital Output Ratio (ICOR). Allocational priority to sectors like education, health and sanitation and their easy accessibility and affordability to people Below Poverty Line (BPL) hold the key to inclusive growth. The paper brings out how our poor development records in terms of Infant Mortality Rate (IMR), Maternal Mortality Rate (MMR), and Gini Coefficient can be substantially mitigated by better allocational commitment, high Research & Development, allocation, improvement in factor productivity and global collaboration. KEYWORDS: HDI, ICOR, BPL, EMEs, IMR & MM

MAKE IN INDIA - THE MANUFACTURING CONUNDRUM

The high octane propaganda of Make-in-India seeks to make India a global manufacturing hub, by taking advantage of its demographic dividend, democratic framework, and huge untapped demand. The paper traces the impact of dismantling License Permit Quota (LPQ) regime on growth and employment and criticality of ICOR and Ease of Doing Business to realize our full growth potential. It brings out the need to harness economy of scale by setting up a chain of economic zones on the coastline and ancillary them with the SMEs. Given the tepid FDI inflow, particularly into the power sector, the paper makes a strong case for exploring viable joint ventures so as not to allow India to become fishing zone for MNCs. Underlining the pivotal importance of social capital, the paper strongly calls for Centre-State synergy and identifies investment in IT hardware as a priority sector in this major policy footprint of India.&nbsp