Indian Rupee hits historic low: Now Rs 67.23 = 1 Dollar

[TopCat]

Do you even have an idea of stupidity of your blabbering? What Ponzi scheme? Does an Steel plant set up by korean money not provide employment to locals or add to GDP?


Could you name single investigation taken up by Congress?


On other hand gifts of congress in past 5 years have been

1. Complete shutdown of mining sector.

2. Retroactive taxation laws to chase off investors.

3. Food security bill.

4. running a deficit of 4%+ consistently.

5. High taxation burden.

6. Chasing out multinationals like POSCO and Vedanta for sake of socialist kool-aid.

With so much foreign investment and 8% growth, why is your manufacturing still hovering in 14% mark? Look hard and you will find Ponzi Scheme all over Indian economy in last 20 years. Look deep and you will know how Shahara made fortune through Ponzi Scheme. Steel mill is good still it based on mine loot.. probably another Ponzi Scheme. BJP will just add catalyst to those scheme nothing less.

 

[eastwatch]

With syrian bombing just over horizon, 70 is guaranteed and 100 is a possibility.

But, war prospects weaken the dollar. Why it is opposite in case of INR?

 

[anonymus]

But, war prospects weaken the dollar. Why it is opposite in case of INR?

Oil Imports.

India would need to shell out more dollars due to increase in oil prices.

 

[TopCat]

it was BJP's Vajpayee govt. which brought massive investment and growth into India through reforms and infrastructure projects ... Then Congress came into power and gave everything thing away for free ....they practically destroyed the country ..

Reform ??? What reform??? India does not need no reform. You liberalize your economy enough for the real investor to invest. Only the Ponzi Schemer needs more reform.

Anybody can set up a manufacturing plant in India as far as I know. Long term investment does not look for reform. India has enough entrepreneur who can invest in labor intensive sectors but they are all look for reform for quick money at the expense of poor. Just screw this. Look around and millions Indians are are waiting for little credit for them to start their own venture who does not need no reform. Only a piece of breathing space will create miracle in India. Forget those corporate sharks.

 

[Developereo]

Just curious, what made you think like that? Not for an argument, just want to know the view point..

Hard political reality is that Narendra Modi cannot become PM - Economic Times

So, regional leaders like Nitish Kumar, Mamata Banerjee, Naveen Patnaik and Chandrababu Naidu treat Modi as poison. They did business with Vajpayee. They refuse to do business with Modi.

 

[Bang Galore]

Hard political reality is that Narendra Modi cannot become PM - Economic Times

I have read that report and while I have been inclined to subscribe to such a line, I'm not as sure of this argument as before. I have seen some polls on U.P which are bewildering. There is some polarisation going on & that usually works to the BJP's advantage. U.P is the key, the numbers there are massive. Add to that, the economy is not looking too good in the near term, irrespective of any positives in the long term. If people panic at the UPA's handling of the economy, they are likely to turn towards a "strong" leader.

As for leaders like Nitesh Kumar, Chandrababu Naidu & Naveen Patnaik not willing to do business with Modi, I'm not very sure. Only Naveen Patnaik of the three still retains strong support but is still a CM of a very weak and small state. With Congress being his principal opposition party in state, he has very limited choices. Nitesh Kumar has been weakened, exactly how much will be known only at the hustlings. Chandrababu Naidu is much weakened when compared to 1999, he simply no longer has a big base and may feel necessary to deal with the BJP nationally.

Things are a bit more complicated now than they appeared to be even 6 months ago.

 

[bronxbull]

Hard political reality is that Narendra Modi cannot become PM - Economic Times

Ankleswar Iyer's new found wisdom,wow.

Modi himself knows all this since long but what Iyer forgets is that,if the people want to see it as a Modi vs Manmohan thing they will,there are many Congress victories based out of the personality cult of Nehru/Indira/Rajiv.

Lok Sabha results can due to anything,Anti incumbency,Inflation,General disappointment,Death of a cult figure(Indira/Rajiv),Rise of a cult figure,Farm Loan Waiver,Anti incumbency in states,YSR won AP for Congress twice due to his image.

And so on,Iyer should step on the street and read the pusle instead of doing his st.stepehen's SWOT analysis.

I have read that report and while I have been inclined to subscribe to such a line, I'm not as sure of this argument as before. I have seen some polls on U.P which are bewildering. There is some polarisation going on & that usually works to the BJP's advantage. U.P is the key, the numbers there are massive. Add to that, the economy is not looking too good in the near term, irrespective of any positives in the long term. If people panic at the UPA's handling of the economy, they are likely to turn towards a "strong" leader.

As for leaders like Nitesh Kumar, Chandrababu Naidu & Naveen Patnaik not willing to do business with Modi, I'm not very sure. Only Naveen Patnaik of the three still retains strong support but is still a CM of a very weak and small state. With Congress being his principal opposition party in state, he has very limited choices. Nitesh Kumar has been weakened, exactly how much will be known only at the hustlings. Chandrababu Naidu is much weakened when compared to 1999, he simply no longer has a big base and may feel necessary to deal with the BJP nationally.

Things are a bit more complicated now than they appeared to be even 6 months ago.

TDP is the biggest benefactor of the Bifurcation of Andhra and thats why CBN kept quiet all the time.

Amongst all the parties of AP, It is YSR Jagan and Congress who are most affected.

Of the 25 MPs in Seemandhra,TDP can make 20/25 easily.

 

[bronxbull]

I have read that report and while I have been inclined to subscribe to such a line, I'm not as sure of this argument as before. I have seen some polls on U.P which are bewildering. There is some polarisation going on & that usually works to the BJP's advantage. U.P is the key, the numbers there are massive. Add to that, the economy is not looking too good in the near term, irrespective of any positives in the long term. If people panic at the UPA's handling of the economy, they are likely to turn towards a "strong" leader.

As for leaders like Nitesh Kumar, Chandrababu Naidu & Naveen Patnaik not willing to do business with Modi, I'm not very sure. Only Naveen Patnaik of the three still retains strong support but is still a CM of a very weak and small state. With Congress being his principal opposition party in state, he has very limited choices. Nitesh Kumar has been weakened, exactly how much will be known only at the hustlings. Chandrababu Naidu is much weakened when compared to 1999, he simply no longer has a big base and may feel necessary to deal with the BJP nationally.

Things are a bit more complicated now than they appeared to be even 6 months ago.

There is a great swing in the congress votebank which is the Rajputs of UP towards Modi/BJP.

Thats the problem.

In UP 4 parties have equal vote bank or nearly equal and apart from Dalits towards BSP and Yadavs towards SP,Brahmins+Baniyas towards BJP and Rajputs towards Congress.

That makes even a small change or polarisation towards one party make them sweep it.

BJP wants 50 out of 80 this time and are making the right moves whereas Mulayam wants 25-30 so thats they played the fixed match in Ayodhya to consolidate each other's votebanks.

Hindus towards BJP and Muslims towards SP.

 

[Hemanth]

***** please :bunny

India's economy
GDP (purchasing power parity) $4.735 trillion (2012 est.) (note: trillion)
$4.492 trillion (2011 est.)
$4.205 trillion (2010 est.)
note: data are in 2012 US dollars

GDP - real growth rate 5.4% (2012 est.)
6.8% (2011 est.)
10.1% (2010 est.)

GDP - per capita (PPP) $3,900 (2012 est.)
$3,700 (2011 est.)
$3,500 (2010 est.)
note: data are in 2012 US dollars



Pakistan's economy
GDP (purchasing power parity) $514.6 billion (2012 est.) (note: billion)
$496.3 billion (2011 est.)
$481.7 billion (2010 est.)
note: data are in 2012 US dollars

GDP - real growth rate 3.7% (2012 est.)
3% (2011 est.)
3.1% (2010 est.)

GDP - per capita (PPP) $2,900 (2012 est.)
$2,800 (2011 est.)
$2,800 (2010 est.)
note: data are in 2012 US dollars

 

[Developereo]

Things are a bit more complicated now than they appeared to be even 6 months ago.

The worse the economy gets, the more chance that people would consider extreme options.
Let's wait and see what happens...

 

[Hemanth]

***** please :bunny

India's economy
GDP (purchasing power parity) $4.735 trillion (2012 est.) (note: trillion)
$4.492 trillion (2011 est.)
$4.205 trillion (2010 est.)
note: data are in 2012 US dollars

GDP - real growth rate 5.4% (2012 est.)
6.8% (2011 est.)
10.1% (2010 est.)

GDP - per capita (PPP) $3,900 (2012 est.)
$3,700 (2011 est.)
$3,500 (2010 est.)
note: data are in 2012 US dollars



Pakistan's economy
GDP (purchasing power parity) $514.6 billion (2012 est.) (note: billion)
$496.3 billion (2011 est.)
$481.7 billion (2010 est.)
note: data are in 2012 US dollars

GDP - real growth rate 3.7% (2012 est.)
3% (2011 est.)
3.1% (2010 est.)

GDP - per capita (PPP) $2,900 (2012 est.)
$2,800 (2011 est.)
$2,800 (2010 est.)
note: data are in 2012 US dollars

 

[Star Wars]

The worse the economy gets, the more chance that people would consider extreme options.
Let's wait and see what happens...

This crisis is a blessing in disguise , this will hopefully bring in much needed reforms , a new strong govt. in place in the next election year . IF things go as bad its going, then the food security bill will be one of the biggest disasters for congress itself..
People aren't stupid as they were decades ago , the same old tactics don't work now ...

 

[Donatello]

My 6 months fee's for Higher Studies in Australia increased from 7.5 Lakh INR to 8.75 Lakh in 4 weeks. Stupid GOI, now middle class will not be able to afford to study abroad.



We have 40+ % tax on oil, we need to get rid of both taxes n subsidy.

The government is not to blame. When India was growing, no body blamed the government. Now when everything seems to be tumbling down, you blame the government. The government can't do shyt. They can sell the foreign currencies that they have in reserve, but only to certain extent. If they start selling their 585 tonnes gold reserves, then it means the shyt really hit the fan. So government is actually in a very tight spot. Plus the 300 Million strong middle class is not helping as well. Everyone wants to save their finances, so they want to buy the dollar/GBP etc now. When 300 million people stop buying goods like cars/homes/cellphones etc, then you have a a big nationwide problem.

This will eventually settle, but the rupee would have lost it's value and as much as to dismay of many members here, India is not going to see 7% growth anytime soon, if ever. That is long gone.

Now, since this is a defence forum, i would like to know how India is going to fund all those mutli-billion dollar defense purchases. It would be prudent to put that on hold.

Last, you can remove all the tax subsidies you want, but think about it, it will massively affect the transport sector. People like you and me can afford the Petrol for their home cars whether it is 100Rs/liter or 200Rs/Liter. But the transporters like the lorries and public transport can't. They will simply increase the fare which will simply affect the prices of everything, from Electricity generation to railways, jet fuel, price of transporting onions etc to public buses. This affects the growth rate of an economy, and in case of India where 600 Million people travel and depend directly on such transport means, it will be massive effect.

 

[Bang Galore]

The government is not to blame. When India was growing, no body blamed the government.

The government is to blame actually. There are other variables at play here but the primary one is that the government lost the plot more than a bit in the last few years. The fiscal position was allowed to be strained because the government(under the previous Finance minister, now the President of India, Pranab Mukherji) messed up things. Government policies in the 2nd term of the UPA have been abysmal and the government is more interested in freebies than concrete economic plans.

 

[Hyperion]

Yara, what's your take on it?? I reckon between Rs85-Rs89 by new years........

The government is to blame actually. There are other variables at play here but the primary one is that the government lost the plot more than a bit in the last few years. The fiscal position was allowed to be strained because the government(under the previous Finance minister, now the President of India, Pranab Mukherji) messed up things. Government policies in the 2nd term of the UPA have been abysmal and the government is more interested in freebies than concrete economic plans.