India on the brink of its own financial crisis

[Guynextdoor2]

Please think about this:

you guys are going to have a new election, a new government will be formed as the result. will that change the trend? No.

you have to, you have to think about why the gap between we two nations get widened daily!

your media and your government keep telling you that because China started reform ealier. That is a lie, let me tell you two things: China didn't got its share market until 1991, as of today, Chinese Yuan still can not be freely traded with USD. you tell me which country is slow at reform.

the problem is not the current government of india. the problem is your system! the political system is not designed for india, it was copied from UK without even considering the question: will this work well in india? I don't have a solution, but I can see the trend: a new government, more problems, bigger gap with China, lose the competion, stay as a poor developing country.

KEEP YOUR BAD INFLUENCE AWAY FROM US MAGGOT ! We aren't gonna take your commie dictatorship system to stabilize rupee.

 

[Dandpatta]

we do care about india

a crashed economy can potentially cause a refugee crisis to our border, we have to be careful.

On a lighter note - we will just send back all the illegal Bangladeshis back home which have become a burden on the honest exchequer paying his tax As for Indians crossing over to China? I believe you have machinations in Hong Kong / China to seek out Indians* with zeal.

 

[oiltrader]

KEEP YOUR BAD INFLUENCE AWAY FROM US MAGGOT ! We aren't gonna take your commie dictatorship system to stabilize rupee.

Avoid foul language and profanity. You claim to be a former banker ,but do not speak like one.

India will carry huge budden when purchase weapons from overseas. Some projects importation will be set aside due to budget problem.

anyway, its a good chance for India to enhance export volume.

I agree on this point.

 

[DeathInvader]

Please think about this:

you guys are going to have a new election, a new government will be formed as the result. will that change the trend? No.

you have to, you have to think about why the gap between we two nations get widened daily!

your media and your government keep telling you that because China started reform ealier. That is a lie, let me tell you two things: China didn't got its share market until 1991, as of today, Chinese Yuan still can not be freely traded with USD. you tell me which country is slow at reform.

the problem is not the current government of india. the problem is your system! the political system is not designed for india, it was copied from UK without even considering the question: will this work well in india? I don't have a solution, but I can see the trend: a new government, more problems, bigger gap with China, lose the competion, stay as a poor developing country.

Every government or system has its own pros and cons! there is a misuse everywhere.... Socialism and communism lowers the rights of the citizen which is too not good!! the citizen of my country have now started misusing their rights and powers! the political leaders being at the very top of misusing powers! they fcking riot on every move the government makes be it good or bad!! there has not been a single deal in India w/o corruption! everybody is fighting, every fcking cast, gender!! its gonna be a nightmare if the country goes down into a financial crisis! Cops are tied to bureaucrats and politicians who are always self-centered and selfish!! millions of rupees are wasted on Parliaments sections and there is not a single good bill passed! the War of Independence was the last war the country fought for India... Today they are fighting for their own status rather then the country!! This country needs a good leader!! Even during Elections nobody cares to vote... everyone wants a change here but nobody wants to change themselves for the betterment of the Country!! Inducing Nationalism is the only way and option to save country now!! The Country needs only one Religion, Cast, Creed which is India!! Unless that happens! there is no way to save my Mother India!! Continue fighting the bhaiyas, the marathis, the muslims and every fcking guy who is according to doesnt belong where he should be!!

 

[BigDaddyWatch]

The Indian members here seems to blame all the economic problems on the current Congress government and have pin all their hopes on next years elections. And in particulier the BJP and Modi. Now i know that Modi has some real achievements in Gujarat, but he is also a very controversial figure even inside the BJP itself due to the 2002 violence in Gujarat that killed many muslims and also for other reasons. But more importantly do you guys really think that Modi is able to reproduce his successes in Gujarat on the federal/national level ? Can Modi really make the hard decisions on the economy if he too has to pander to his coalition partners in the federal government ?

 

[Echo_419]

The Indian members here seems to blame all the economic problems on the current Congress government and have pin all their hopes on next years elections. And in particulier the BJP and Modi. Now i know that Modi has some real achievements in Gujarat, but he is also a very controversial figure even inside the BJP itself due to the 2002 violence in Gujarat that killed many muslims and also for other reasons. But more importantly do you guys really think that Modi is able to reproduce his successes in Gujarat on the federal/national level ? Can Modi really make the hard decisions on the economy if he too has to pander to his coalition partners in the federal government ?

No i don't think that we can he is no superman
but then again we have no better options & he has a proven development record on Gujarat so i will be voting for him

you tell me we have any better option i will vote for him just tell me

 

[Dandpatta]

The Indian members here seems to blame all the economic problems on the current Congress government and have pin all their hopes on next years elections. And in particulier the BJP and Modi. Now i know that Modi has some real achievements in Gujarat, but he is also a very controversial figure even inside the BJP itself due to the 2002 violence in Gujarat that killed many muslims and also for other reasons. But more importantly do you guys really think that Modi is able to reproduce his successes in Gujarat on the federal/national level ? Can Modi really make the hard decisions on the economy if he too has to pander to his coalition partners in the federal government ?

I know you always resort to sarcasm but this post I will reply in kind.

To a certain extent, a lot of misconception in India is about Modi doing good for Gujarat = good for India. In Gujarat he has had to face only a limited number of issues for the betterment of his state. Now compare that with the larger canvas of India. Various issues, various factions, various projects and multitude of pulls and pushes for every nuance of development. How will he be able to handle these on a large scale compared to the small scale issues in Gujarat state? Only time will tell.

But I have always held the view - that to run a country and to run a state or a city are two different things. One deals with smaller issues . Running a country, and that too INDIA would mean bowing down to the opposition on some hard issues if they hold the sway. Foreign policy / Finance decisions for the sake of the nation / economic factors et al - all these things have a different dimension.

I would say, no matter it is Narendra Modi or any other STRONG person in his place, governing India would be a task. A behemoth task. Not that I am pessimistic about a new government coming into power and running India .. but the challenges will be huge.

 

[Guynextdoor2]

Avoid foul language and profanity. You claim to be a former banker ,but do not speak like one.



I agree on this point.

Who are you?

 

[graphican]

USA might had helped but USA is plunging into deeper crisis itself. For India, another bad news is that it has to repay short term credit by April next year which will further slice its foreign reserves by 60%. Will Indian Rupee Hit 100?

I wish Pakistan had its terrorism and electricity issues resolved at this point because when investors leave India, they would have found a "invest-able venue". But it is not the case as yet.

 

[senkakudefender]

USA might had helped but USA is plunging into deeper crisis itself. For India, another bad news is that it has to repay short term credit by April next year which will further slice its foreign reserves by 60%. Will Indian Rupee Hit 100?

I wish Pakistan had its terrorism and electricity issues resolved at this point because when investors leave India, they would have found a "invest-able venue". But it is not the case as yet.

Sorry am I hearing this right? Pakistan a great investment destination? Sirjee do you know even know why CAD is causing rupee depreciation? When you import stuff you cannot get at abnormal rates like gold, crude,etc, your debit goes down the drain. On top of that investors don't trust current govt due to obvious issues (Corruption ).

Only solution is change in govt. Modi may be damned in your muslim ummah but here his sterling achievements in Gujarat is more trustworthy and shows balanced and achieveable targets.


BTW Here's your wish of rupee hitting 100....Pakistan rupee.....

Pakistani rupee hits the 100-level vs US dollar - Indian Express

The Pakistani rupee today hit the 100-mark against the US dollar in open market deals today on concerns over rising exports and an uncertain political scenario.

Market analysts confirmed that for a while currency dealers in the open market had been selling the US dollar at 100 Pakistani rupees. This is the second instance in two months that the rupee has hit the 100-mark versus dollar.

"Even otherwise the US dollar (against the Pakistani currency) has risen to 99.90 in the official trading," Capital Investments analyst Iftikhar Ahmed said.

The dollar closed at 99.45 against the Pakistani rupee in the open market yesterday.

Currency dealers said the weakness in the Pakistani rupee in the open market could be put down to increased exports and an uncertain political scenario.

The US dollar had touched the 100 rupee mark for the first time in Pakistan's history last month.

Meanwhile, the International Monetary Fund (IMF) has asked Pakistan to begin taking necessary actions to stabilise the economy and lay the groundwork for future growth.

- See more at: Pakistani rupee hits the 100-level vs US dollar - Indian Express

 

[senkakudefender]

USA might had helped but USA is plunging into deeper crisis itself. For India, another bad news is that it has to repay short term credit by April next year which will further slice its foreign reserves by 60%. Will Indian Rupee Hit 100?

I wish Pakistan had its terrorism and electricity issues resolved at this point because when investors leave India, they would have found a "invest-able venue". But it is not the case as yet.

Sorry am I hearing this right? Pakistan a great investment destination? Sirjee do you know even know why CAD is causing rupee depreciation? When you import stuff you cannot get at abnormal rates like gold, crude,etc, your debit goes down the drain. On top of that investors don't trust current govt due to obvious issues (Corruption ).

Only solution is change in govt. Modi may be damned in your muslim ummah but here his sterling achievements in Gujarat is more trustworthy and shows balanced and achieveable targets.


BTW Here's your wish of rupee hitting 100....Pakistan rupee.....

Pakistani rupee hits the 100-level vs US dollar - Indian Express

The Pakistani rupee today hit the 100-mark against the US dollar in open market deals today on concerns over rising exports and an uncertain political scenario.

Market analysts confirmed that for a while currency dealers in the open market had been selling the US dollar at 100 Pakistani rupees. This is the second instance in two months that the rupee has hit the 100-mark versus dollar.

"Even otherwise the US dollar (against the Pakistani currency) has risen to 99.90 in the official trading," Capital Investments analyst Iftikhar Ahmed said.

The dollar closed at 99.45 against the Pakistani rupee in the open market yesterday.

Currency dealers said the weakness in the Pakistani rupee in the open market could be put down to increased exports and an uncertain political scenario.

The US dollar had touched the 100 rupee mark for the first time in Pakistan's history last month.

Meanwhile, the International Monetary Fund (IMF) has asked Pakistan to begin taking necessary actions to stabilise the economy and lay the groundwork for future growth.

 

[faithfulguy]

Avoid foul language and profanity. You claim to be a former banker ,but do not speak like one.



I agree on this point.

He is pissed because he was suppose to buy some gold last Wednesday and but something came up. So he is now screwed.

 

[Dandpatta]

I think the next big investment (infra/finance destination would be Sri Lanka ) . Am not trolling but with the end of the strife, this island nation will be standing tall in a decade's time - PROVIDED things don't go the other way. China has already begun to look into SL. A lot of other garment producing centers are already looking at SL again with their strong banking laws (as against those of dismal Bangladesh's). This is one country that has the potential.

(Above statement made in context of Pakistan's mention. If only, as Graphican mentioned, Pakistan's house was in order to lap up the transfer of FDI from INdia).

 

[Srinivas]

For so long India is a consumption based economy we need to venture into manufacturing and for that India needs to stop these cheap exports. Indian economy needs transformation.


India will do very good in this decade economically, For our economy to become strong India need to reduce trade deficit. For this to occur imports should be reduced.

A falling rupee will make these cheap imports costly, people prefer local products.

Initially there will be some problems in short term but Indian manufacturing base will benefit and India will capture Chinese and West markets.

India economy is in going through some kind of change.

India has reserves which are sufficient for 30 months of imports. No need to panic, "No pain No gain"

 

[Beast]

For so long India is a consumption based economy we need to venture into manufacturing and for that India needs to stop these cheap exports. Indian economy needs transformation.


India will do very good in this decade economically, For our economy to become strong India need to reduce trade deficit. For this to occur imports should be reduced.

A falling rupee will make these cheap imports costly, people prefer local products.

Initially there will be some problems in short term but Indian manufacturing base will benefit and India will capture Chinese and West markets.

India economy is in going through some kind of change.

India has reserves which are sufficient for 30 months of imports. No need to panic, "No pain No gain"

In these critical times, India even needs more China product. Yes, India needs to curb Gold and weapon import.

Btw, India do not have reserves for 30months.

http://www.businesstimes.com.sg/premium/india/indias-dwindling-reserves-hamper-rescue-rupee-20130813

[MUMBAI] With only enough cash in the central bank to pay for seven months of imports, US$172 billion of debt due in the current fiscal year and weak fund inflows, India's balance of payments position is undermining its ability to defend a tumbling rupee.
A heavy dependence on imported energy, gold and technology means India has historically run a current account deficit, which it has funded by attracting foreign money into stocks, bonds and corporate investment.
But as global investors turn away from emerging markets in anticipation of the US Federal Reserve starting to wind back its stimulus, India's weak external position makes it more vulnerable to outflows and a balance of payments deficit.
India has US$280 billion of foreign exchange reserves. That is only enough to cover seven months of import bills, by far the lowest of the BRICs, the four major emerging market economies. That has left the Reserve Bank of India (RBI) with limited firepower to support a rupee which has fallen 12 per cent since the start of May and hit a record low of 61.80 to the dollar last week.