Hey,now you know that India has some of the finest economists in the world,from top universities. The jargon they use is also very glib and impressive-sounds very complex so it must be 'right' as its India's 'financial elite' who does the talking -ministers,bureaucrats,bankers,stock market analysts,mutual fund heads...
The simple fact of the matter is that India is not serious about following any common sense economic rules and actions:
1.Spend less in dollars than you earn in dollars.
2.Minimize bureaucracy in every form-layers,red tape,number of permissions,speed of approvals,etc.
3.Don't allow ministries to work at cross purposes- in fact,encourage them to work in tandem.
4.Don't allow too many players into the market all at once so they kill each other- eg. telecom,aviation.
5.Don't be so corrupt.
6.Don't be so uncompetitive-high costs allround- petrol,land,power,multiple taxes,lack of clarity or permanence on any policy,....
7.Don't give so many freebees to the 'poor' (to be read as vote banks).
8.Don't be jealous of the rich for no reason.
9.Control your population.
You will find that any country, (including China), that has succeeded has done all of the above to a noticeable degree. That's what is important - to a noticeable degree. And these economic actions have been taken by a wide section of the power elite-not just spoken of by economists
from their ministerial pulpits.
Monday, 1 July 2013
Thursday, 20 June 2013
Its the bureaucracy,stupid!Reasons for Rupee's permanent downfall
Lets face it,the government controls the pace of all economic activities in India.
In 1992 it began the process for liberalisation for the wrong reason-India was broke. And we all know that all ends bad that begins with bad thoughts.
Most of India's imports are price inelastic-gold,oil,defence and interest payments.
And most of India's exports are highly replaceable-basic engg. goods,basic pharma,software,IT,diamonds,leather,commodities,agri. products, Nothing that the world can do without. All that happens when the rupee falls in value vs. the dollar is that importers negotiate a better rate for themselves. And our imports get costlier.
Only when ALL Indians make the following mind-set change will India's trade balance begin to improve:
1.Acknowledge that INDIA DOES NOT MATTER IN WORLD AFFAIRS.Its called humility!
2.Acknowledge that India needs the world and its products for its survival far more than the world needs India for its survival. (After all,a few less cups of tea,sugar or rice never killed anybody!)Its called being totally dispensable!
3.Become more pro-industry in its business culture,as against its pro-agri. tilt.
4.Acknowledge that being rich is not a criminal offence and is indeed a desirable aspiration for all Indians,and not just the fortunate few.
5.Get off its neutral high horse and stand taking a bold stand in world affairs.
6.Acknowledge that encouraging the growth of many,many big cities and modern industry is its future and not farming!
Grow up,India!
In 1992 it began the process for liberalisation for the wrong reason-India was broke. And we all know that all ends bad that begins with bad thoughts.
Most of India's imports are price inelastic-gold,oil,defence and interest payments.
And most of India's exports are highly replaceable-basic engg. goods,basic pharma,software,IT,diamonds,leather,commodities,agri. products, Nothing that the world can do without. All that happens when the rupee falls in value vs. the dollar is that importers negotiate a better rate for themselves. And our imports get costlier.
Only when ALL Indians make the following mind-set change will India's trade balance begin to improve:
1.Acknowledge that INDIA DOES NOT MATTER IN WORLD AFFAIRS.Its called humility!
2.Acknowledge that India needs the world and its products for its survival far more than the world needs India for its survival. (After all,a few less cups of tea,sugar or rice never killed anybody!)Its called being totally dispensable!
3.Become more pro-industry in its business culture,as against its pro-agri. tilt.
4.Acknowledge that being rich is not a criminal offence and is indeed a desirable aspiration for all Indians,and not just the fortunate few.
5.Get off its neutral high horse and stand taking a bold stand in world affairs.
6.Acknowledge that encouraging the growth of many,many big cities and modern industry is its future and not farming!
Grow up,India!
Thursday, 14 June 2012
counterpoint: We,The People of India.....poor,righteous Indians....
counterpoint: We,The People of India.....poor,righteous Indians....: It never fails to amuse me how the poor in India are always right - legally and morally. It's always the rich man's son in the BMW who run...
We,The People of India.....poor,righteous Indians.
It never fails to amuse me how the poor in India are always right - legally and morally.
It's always the rich man's son in the BMW who runs over a sleeping slumdweller who must be wrong.
The BMW owner pays multiple taxes,road tax,parking fees,sales tax,octroi,excise duty,etc. and is driving on the road he paid for with his income tax and wealth tax. The slumdweller is sleeping free and illegally...yet he is right and adopts a righteous and injured attitude!!
Also,since when did stealing electricity and water from public supply lines not become an offence ??
It's always the rich man's son in the BMW who runs over a sleeping slumdweller who must be wrong.
The BMW owner pays multiple taxes,road tax,parking fees,sales tax,octroi,excise duty,etc. and is driving on the road he paid for with his income tax and wealth tax. The slumdweller is sleeping free and illegally...yet he is right and adopts a righteous and injured attitude!!
Also,since when did stealing electricity and water from public supply lines not become an offence ??
counterpoint: We,The People of India....sea-link to nowhere
counterpoint: We,The People of India....sea-link to nowhere: The Bandra-Worli Sea Link is the most useless and meaningless bridge on Earth: 1.It has a speed limit of 50 Kmph-the world's lowest bridg...
We,The People of India....sea-link to nowhere
The Bandra-Worli Sea Link is the most useless and meaningless bridge on Earth:
1.It has a speed limit of 50 Kmph-the world's lowest bridge speed limit!
This max. speed limit is well below the minimum speed limit on all Western countries' highways!
2.No overtaking on the bridge!
3.Speed breakers on the bridge!
4.Net distance saved - 4 kms. Cost of bridge Rs.1,600 crores!The worlds most expensive bridge per km.!
5.Bridge is still incomplete 17 years after work started!
6.100 meaningless road signs on the bridge! If you read each one you will definitely have an accident,as they are irrelevant,badly placed and their text matter is too small.
7.Dangerous dividers to separate traffic at the toll naka!
8.Several repair works already commenced !That too,in a dangerous manner!
9.No separate queues or discounts for monthly passholders,thereby discouraging the purchase of a monthly pass!
8.On the old route,which has churches,schools,shops,pedestrians:
-no speedbrakers!
-overtaking encouraged!
-no speedlimits!
-no repair work though it is sorely needed!
Plans for Worli-Haji Ali link are totally scrapped!!
1.It has a speed limit of 50 Kmph-the world's lowest bridge speed limit!
This max. speed limit is well below the minimum speed limit on all Western countries' highways!
2.No overtaking on the bridge!
3.Speed breakers on the bridge!
4.Net distance saved - 4 kms. Cost of bridge Rs.1,600 crores!The worlds most expensive bridge per km.!
5.Bridge is still incomplete 17 years after work started!
6.100 meaningless road signs on the bridge! If you read each one you will definitely have an accident,as they are irrelevant,badly placed and their text matter is too small.
7.Dangerous dividers to separate traffic at the toll naka!
8.Several repair works already commenced !That too,in a dangerous manner!
9.No separate queues or discounts for monthly passholders,thereby discouraging the purchase of a monthly pass!
8.On the old route,which has churches,schools,shops,pedestrians:
-no speedbrakers!
-overtaking encouraged!
-no speedlimits!
-no repair work though it is sorely needed!
Plans for Worli-Haji Ali link are totally scrapped!!
We,the people of India....with apologies to Annaji!
We,the people of India,vow to staunchly defend our birthright to a corrupt-ful and pirate-infested society...and we will fast indefinitely for our rights !
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