i congratulate the four indians who are among the richest in the world and have a combined wealth of $180 billion. their combined wealth substaintially raises the per capita income of our countrymen. we should all be proud of this except that one is also reminded of a joke: apparently a rich man like bill gates was at a bar with ten other people - the per capita income of the eleven men in the bar was in about 4billion dollars. after a while this rich person left and the per capita income of the remaining ten fell to a few thousand dollars. so much for the law of averages, but we are not jealous.
"INDIANS ARE RICH BUT INDIA IS POOR"-- THERE IS NO PROPER INFRASTRUCTURE, SLOW ECONOMY. ITS ALREADY 60YEARS OF INDEPENDENCE BUT WE ARE STILL DEPENDENT & NOT INDEPENDENT. THE INFRASTRUCTURE OF ALL METRO CITIES SHOULD BE AVAILABLE IN ALL INDIAN VILLAGES. WHEN THIS CAN HAPPEN, IS IT JUST CENTURIES AWAY!!!!......
RE:INDIANS ARE RICH, BUT INDIA IS POOR
by Deshbhakt on Nov 15, 2007 11:40 AM
Let's put it this way.. "India is a rich country with many poor people. Also, India is a poor country with many rich people"
reading all the comments below about distributing wealth to the poor by the rich and so on... I just wonder how can so many ppl be so foolishly communistic and have absolute 0 knowledge of economics.
I dont want to waste my time debating but hope that a simple argument will give them some insights.
I'll be worried only when these rich people keep their money in physical currency or in places like swiss bank. But, all these rich have stock holdings which means they are building more companies and so more jobs and so more income to the poor, middle and upper class.. By just distributing wealth, you'll only make every one poor and not every one rich.
Distribution or subsidies should happen only to an extent that no one should die of hunger etc. and will have opportunity to acquire skills to get a job. Dont keep harrowing about rich distributing their wealth to poor and stupid communistic crap like that. And, i'll be happy if all commies making such crap comments give most of their money to poor and become poor.
RE:I cant understand how can ppl be so stupid
by deepak on Nov 15, 2007 11:43 AM
Economic understand is not wide spread... For example just take the recently Listed Chinese oil company on shanghai exchange... It merely listed its 2% HOLDING APART FROM 12% IN HONG KONG, AND 3% IN NEw YORK.. IF ONE IS TO DwELL wHOLLY OF THE STOCK PRICE AT SHANGHAI EXCHANGE, THE TOTAL CAPITAL MARKET OF THAT STOCK IS 1 TRILLION DOLLAR. IT IS TOTALY ABSURD.. 1 TRILLION CAPITALISATION IS TwICE AS MUCH AS THAT OF EXXON...
MEDIA TRIES TO PUBLICIZE THE ARTICLES AS ABOVE FOR MASSES wITH NO UNDERSTAND... THEY DO NOT TELL THAT STOCK MARKET IS A SOURCE TO RAISE FUNDS.... A COMPANY SELLS SOME OF ITS OwNERSHIP TO ACCESS CAPITAL AND RAISE FUNDS FOR INVESTMENT... THEY DO NOT HAVE PHYSICAL MONEY TO INVEST... BESIDE STOCK MARKET, THEY ALSO ACCESS LOANS FROM BANKS, TO wHICH, BANKS CHARGE THEM INTEREST RATE... IF AMBANIS SHARE IS wORLD 49 BILLION, DID MEDIA TRY TO HIGHLIGHT HOw MUCH CASH HE HAS? IF HE NEEDS TO BUY A COMPANY wORLD 10 BILLION, HE wOULD HAVE TO GO TO BANK TO GET A LOAN AT SOME INTEREST RATE... OF COURSE, INDIAN BANKS DO NOT GIVE BIG LOANS.. SO HE DEFINITELY HAS TO GO TO SOME EUROPEAN OR AMERICAN BANK TO ACCESS THE NEEDED LOAN... wHAT MATTERS MOST IS PROFIT OF A COMPANY, AND ITS CASH BALANCE ON FILES....
jUST CONSIDER ANYONE wHO COMES IN HERE, AND TALKS ABOUT FARMERS COMMITTING SUICIDE wHILE RICH ARE GETTING RICHER... THEY HAVE NO LOGIC, OR UNDERSTANDING TO BEGIN wITH.. MEDIA IS PLAYING A POOR ROLE wHEN IT PLAYS wITH SUCH STUPID NUMBERS...
RE:I cant understand how can ppl be so stupid
by avadhoot panse on Nov 15, 2007 11:32 AM
Instead of concentrating on serious and core issues ahead in the country, rediff is dedicated only to maintain news in big people circuits and spread there fame(?). Instead of concentrating on such stupid topics, editor should start writting about reality of burning issues in the country.
We, the public in general, are not bothered who is a billionaire or trillionaire. All that want is good road, light, administration and a corruption free governement. Wat is the use if one or two becomes rich among 100 crores. Can they say with proud that they have made this entire money without paying a single paisa bribe?
These people wanted to become rich and became rich beyond their wildest dreams. It is within each of us to focus on what we want to do. If the focus is to become rich, so be it. As far as I am concerned, I will never want to be in the shoes of Mukesh Ambani or Mittal. It is just not worth it. Life is more than just counting the money. You will get a new set of associates, who leave you for better pastures at the first opportunity. I am sure, I am not a minority.
We can all be blessed. The moment one expects beyond our ability, we are doomed to a life of despair, as I can see from some of the postings.
RE:India is poor but Indians are richest
by avadhoot panse on Nov 15, 2007 11:29 AM
Very true. These bigwigs never think of common people in country on whose support they became rich. If they show 1% sense of giving back to society from where they grow, it will make significant difference at least for some people.
RE:India is poor but Indians are richest
by Rajeev CP on Nov 15, 2007 11:17 AM
The policy of the govt is wrong. This govt is makings the rich richer and the poor poorer. There is a nexes between the politicians and these few rich people. Beacause of this reason only the stock market is booming. Within one day 1000 points are gaining. How it is possible The govt is fooling everybody. When ever the present govt comes they creates lots of problem for the middle class and the poor. They think about only big guns like ambanies, because they give lots of money to them as bribe. Only god can save this country.
RE:India is poor but Indians are richest
by shiva on Nov 15, 2007 11:28 AM
Rajeev,
There is no perfect system anywhere. I experienced first hand the other side. The managers in nationlised banks were getting less take home pay than the clerical staff. There was a system to get maximum overtime and any work was done only during that time. The regular hours were for politicking. The capable left and succeeded anywhere else in the world.
Also no point in blaming the politicians. We have to take the lead in setting the system right. But, who will bell the cat? If the postings are any guide, we are good at blaming all and sundry. We all need to take a hard look at the mirror. Let us all aim for a better life. You aspire for a a mountain, you may get a hill.
Anyway, we are better than many others like Pakistan, Sri Lanka etc - some relief.
RE:India is poor but Indians are richest
by deepak on Nov 15, 2007 11:49 AM
Rajeev.... you are one big fool.... have you thought of going back to college and retake Eco101.... Please read Rajkiran among many comments post in here for basic understanding
RE:A request to Rediff News Editor
by barath barath on Nov 15, 2007 11:33 AM
Dear SP, What is behind this Dam issue you Know?!!!!!! Not Any tech problem with Dam. More the thousand year oid Dam is still use in TN.This is pure Financial Treat from Kerala. No one from Kerala dnot open this matter.I am ex-PWD staff from TN.
RE:A request to Rediff News Editor
by sanjay haribans mishra on Nov 15, 2007 11:23 AM
If what SP says is correct, which i presume is, we should all support him for this cause and come forward strongly. We are concerned about Pakistan and curse Mr. Musharraf but the question here is "Are we living in the biggest Democracy?".
