i dont believe that the banks will not follow the ex FM 's statement.if the banks are not lending it is because the FM is not allowing them to lend.why?? to give more sops to the industrialists because the elections are near..lol
India facing slowdown, not recession: Chidambaram Union Home Minister P Chidambaram on Saturday said India is not facing recession but only a slowdown. Though Chidambaram says words like this . but thats not the reality. as recession starts biting India at later stage eg effects of western recession of 2008 are felt now. world recession will be felt at later in 2009 some time middle of year 2009.
what ever the predictors says. but market will slide below 7000 mark in first quarter of 2009. and see the budget how it copes with the comming recession. else it may slide to 4-5000 mark. India is not the recession proof that will not be in process of recession. wait and watch till end of 2009. worst is still to come. so instead of saying we will not be in recession , better be prepared for it as prevention is always better than a cure.
Till now, there was so much hype and artificial price rise because of speculators.The growth was not a healthy one , but more like a cancer.Lot of fraud was been committed by builders, Stock brokers, IT companies (Satyam) and even comman man in the name of growth, where as the situation of farmers and common man has not improved that much. This nonsense talk of growth will now end for a while at least.Let the Govt work to improve infrastructure for our population which is bursting and invest massively on power, roads, water and irrigation and low cost housing.First and foremost , they should provide quality power, water, fertilizers to farmers and they should do well. Side by side, make facilities for manufacturing so that Small Scale and Large scale industries can produce for local pooulation.
Re: who
by ShivSena on Jan 27, 2009 04:43 AM
the fact that you call him a lungiwalla shows that you are racist and shouldn't be commenting on Indian ministers whether they are from Congress or BJP.
See too many tax heads in India. either a company or individual is the same entity as far as the living human being or artificial being. Than why too many heads & duplicating in tax collections. Put at 2 points and straight tax either & spending level or income level. While we have huge population we need not to have many tax heads. take a case study where these money syphoned. In German banks the Politicians put on fixed deposits Rs seven million billions ie Rs 700000000000000/- So huge forex of 200 billion dollors alone in German bank. the tax money syphoned by politicians through the industrialists & burocrates & parking at overseas. If that money comes back to India the finance ministry can give tax holiday for another 10 years. So Chartered accountants should ask finance ministry to write a letter to German bank to reveal & arrange money to reach India to Indian treasury. Scapegoat Satyam or some one but real culprits are politicians 5000 numbers in India owning assets overseas
