Temple assets are public property and this has been reported in number of newspapers and holds somewhat true as far as the Lord Padmanabha Temple of Thiruvanathapuram in Kerala is concerned. The idea seems to have been articulated by different political parties across the state with a degree of variations as to who shall be the trustee and as to who shall manage such an enormous treasure found in the hidden secret vaults of the temple. What is most disturbing is the way crass politics and political opportunism is seen entering into the scene sidetracking good economics and proper management of wealth for productive usages. Suggestions vary more to tow the political party way of thinking rather than the benefit the wealth can benefit the State population and the country as a whole. There is no doubt that a trust can be formed and should be formed with members of duly elected representative of the temple as well as those who come to worship and receive blessings of the Lord taking into consideration that this cuts across the Hindu chaste reservations too. Once, such a trust is formed then it is the duty of the trust to see that the wealth is put into good use and for productive purposes.
However, when one looks into the larger picture a trust is good so far as the actual custodian of the wealth is concerned, but looking at it from the view point of good economics the trust and its activities are likely to aggrandize the fortune it holds on to with its more charitable activities. I am not saying that charitable activities ought to be avoided, but there is limitation that this charitable activity can look after the larger public interest or the community particularly the Hindu community to whom the wealth of one lac crores or 100 billion dollars worth belongs. This is to emphasize the point that there is nothing to compare the system of channeling funds through the network of Indian banking even though the trust in most of its transaction are using this safe method. What I wish to point out here is that this huge wealth as such has very little potential of becoming any use to a larger portion of the public and as such must be monetized both for transparency and safety. I have already stated this in my article in this site titled 'Monetizing of Wealth Lying within the Country' dated Sept 12th, 2011.
If you have read the article then you would have realized the importance of banking system and in particular the role of the Reserve Bank of India to enact a mechanism by which the actual fund remains in the hands of the trust while the same is monetized by the Reserve Bank of India as the Custodian 2. In this instance, the sole act and responsibility of managing the wealth in terms of its proper economic perspective and utilization for the development of the country's resources and long term projects rests on the RBI. While this can never be true as far the trust is concerned for the wealth although could be utilized properly would be limited to a narrow spectrum of activities and definitely not on a sustaining basis or areas of large scale employment potential and raising of the standards of living for a larger portion of the populace.Again, periodical updates, refunds, structural monetary adjustments of such huge funds can only be possible through the auspices of the RBI alone even though the finance ministry may have the last word on it. When large funds are locked up in large projects requiring long periods for completion there wouldn't be any great impact on the routine monetary policies in force nor have any impact on the inflation.
The case holds very true for even other heritage properties and wealth in the form of monuments like the Nizam's Wealth, Museum Wealth, Taj Mahal and others. In many ways there is a greater chance of earning from monetizing the wealth for productive purposes while a generous amount can also be given to these trusts for maintaining and providing ample security for these wealth rather than pass the burden on to the tax payers.
However, when one looks into the larger picture a trust is good so far as the actual custodian of the wealth is concerned, but looking at it from the view point of good economics the trust and its activities are likely to aggrandize the fortune it holds on to with its more charitable activities. I am not saying that charitable activities ought to be avoided, but there is limitation that this charitable activity can look after the larger public interest or the community particularly the Hindu community to whom the wealth of one lac crores or 100 billion dollars worth belongs. This is to emphasize the point that there is nothing to compare the system of channeling funds through the network of Indian banking even though the trust in most of its transaction are using this safe method. What I wish to point out here is that this huge wealth as such has very little potential of becoming any use to a larger portion of the public and as such must be monetized both for transparency and safety. I have already stated this in my article in this site titled 'Monetizing of Wealth Lying within the Country' dated Sept 12th, 2011.
If you have read the article then you would have realized the importance of banking system and in particular the role of the Reserve Bank of India to enact a mechanism by which the actual fund remains in the hands of the trust while the same is monetized by the Reserve Bank of India as the Custodian 2. In this instance, the sole act and responsibility of managing the wealth in terms of its proper economic perspective and utilization for the development of the country's resources and long term projects rests on the RBI. While this can never be true as far the trust is concerned for the wealth although could be utilized properly would be limited to a narrow spectrum of activities and definitely not on a sustaining basis or areas of large scale employment potential and raising of the standards of living for a larger portion of the populace.Again, periodical updates, refunds, structural monetary adjustments of such huge funds can only be possible through the auspices of the RBI alone even though the finance ministry may have the last word on it. When large funds are locked up in large projects requiring long periods for completion there wouldn't be any great impact on the routine monetary policies in force nor have any impact on the inflation.
The case holds very true for even other heritage properties and wealth in the form of monuments like the Nizam's Wealth, Museum Wealth, Taj Mahal and others. In many ways there is a greater chance of earning from monetizing the wealth for productive purposes while a generous amount can also be given to these trusts for maintaining and providing ample security for these wealth rather than pass the burden on to the tax payers.
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