Re: Indian open your eyes
by Trend setter on Mar 11, 2009 11:14 PM
saab is 100% correct. look at UP and bihar. so many brothers migrate to sin city of mumbai. to do what? to do number two in front of 5:32 churchgate fast. UP and bihari brothers come back to ur grams. there is no joy like doing number two in open peaceful field with cool air gently massaging our palers.
Its an irony that we are providing IT service to US and overseas when our own IT infrastructure is really not sound. Now that there are fewer projects in the US/overseas I am wondering what it would take to use the resources and skill set that the IT companies have to improve the IT infrastructure (banking, ecommerce, egovernance) in India. I think this would be a good time for the IT companies to execute indigenous projects. Although they wont be seeing the same big money (in dollars) something is better than nothing. Moreover its investment here so it will pay off. I know its not a one way street and lot of support and cooperation is needed from the other side as well (banks, goverment etc). But just my random thought to spin a discussion on what it would take for the IT companies to execute indigenous projects and eventually benefit from IT.
Re: may be an opportunity
by xxx yyy on Mar 11, 2009 08:42 PM
Cobbler's children run around bare feet, so goes the saying. While we were working on a JR (Japan Rail) project in 1995/96 to ensure that even the most rural trains are never late by more than 5 seconds, my father in law had asked me why we could not do the same in India. Maybe this is the opportunuity as you said
With people losing their jobs, any amount of bailout will never lead to a bump up in demand. The politicians have not realised this, and have chosen to give bailouts to greedy companies that still eliminate jobs. These companies have then indirectly passed on those funds to politicians for the elections. See, the point is, every incentive so far, has only been to take care of supply side, but nothing for the common man. The bailout should not have been given at all in the first place. This would have ensured that the greedy companies fell, and the govt. should have nationalized them. This would have helped govts. to infuse and monitor funding utilizations. Common man would have still had their job intact. Indian govt. is lucky to have had Y V Reddy as RBI Governor, as due to his foresight, we have been spared much of the brunt by way of CDS, and so on. However, real estate bubble is still to correct deeply to ensure that we get back to realistic pricing. See HDIL... the Chairman's son bought a ferrari out of the IPO money. Now they are trying to show their Kurla apts have sold out 100 units, and they have increased price in 2 weeks by Rs.100 per sq ft. I do not think the fellows have even sold anything. Wait... Real Estate has to still correct more deeply
USA is going towards protectionism and corruption. Obama Treasury Secretary have't paid his Income tax from Last 3 years. Obama’s senate seat sold for $1million. Lehman Brothers fraud. Is this not consider as corruption in USA.Why All NRI's and western people blame India as one of the most corrupt country in the world. It means if rich do any fraud and Scam is legal.
Re: Re: USA is going towards protectionism and corruption.
by Ganesh R on Mar 11, 2009 11:34 PM
Yes I agree with you... Best in terms of teenage pregnancy Best in terms of homicides Best in terms of waging war Best in terms of killing Indians & what was the word you used? History?? Do you know what history means for USA?? hardly 250 years compared to 6000 years of India. What's the point having a good infrastructure when you cannot guarantee the safety of your life especially at SCHOOL!!!
Re: Re: Re: USA is going towards protectionism and corruption.
by Truth BeTold on Mar 12, 2009 12:05 AM
Yes unlike India where everyone is safe. Funny.
&B ( Politicians and businessmen)take the cue of such sort only from USA and befool Indian by doling out financial/stimulous package to keep their bank account swelling. But they don't follow the entire path of USA to bail out from Recession i.e a) Crash the property prices b) Then think of home loan rate cut c) Then think of stimulous package.
Scruplous India politician follow backward path a) Stimulous package first b) CRR, Repo rate, ECB, Reverse repo c) Marginal correction in property prices Nothing will change and India will be in deep recession till property prices crash propelling First time home seekers to go with their bag for purchase of flats so that they can save their 50% of their income which otherwise is spent in paying EMIs only. Where is the surplus money with common man ( 95 % of Indian Population)to invest in buying white goods or luxurious items to improve their life style.
Re: Worries for Indian Economy to multiply manifold
by historyrepeats on Mar 08, 2009 09:55 PM
No amount of cut on part of CRR , Repo Rate , Reverse Repo , SLR , ECCB will help in improving situation. Becos it only infuses liquidity in the financial institution system, but general public do not get access to it . Neither Banks are willing to lend on account of fear of defaulters list swelling. They have woken to the fact that Common Man do not purchasing power.
Mind It> In US, it was initially property price crash then Govt thought of Fed cut. But in India, Govt cut rates on CRR , Repo rate etc only to give temporary reprieve. It is not a permanent solution. Property prices should fall at least by 200 percent else India will slip into a long recessionary period. ASSOCHEM Predictions of LAY OFFS has already started showing sign. Govt is not to help Industry only through financial package, but to generate employment and increase the purchasing power. No amount of FDI or FII is helping in bringing liquidity in the system. It is all temporary . Real Solution ; Increas purchasing power of 70 per cent of Rural or Semi Urban People
Re: Re: Worries for Indian Economy to multiply manifold
by historyrepeats on Mar 08, 2009 09:56 PM
Till Govt take measures to increase the purchasing power of Common Man, nothing will change on ground.
Only way : Make House affordable ( 4-5 Lacs for 2 Bhk flat)
If your question is big WHY, then please note
Common Man spends 30 to 50 % of its income on either paying EMI or House Rent . Where they have excess money to spend on Lavious things like Car.
As per estimate, major population do not have their own house.
No man will go to bank for Home Loan if property prices do not fall by at least 200 per cent.
Recession is going to stay for long if property prices don't crash. We are a victim to the excess greed of Builders and Property sharks . In last 5 years, only Mall and Multiplex were built in the name of Realty development. Only few residential projects come up and that too in High end segment ( prices range from 20 Lacs to 2 Crore) Much away from the hands of Common Man.
Re: Re: Re: Worries for Indian Economy to multiply manifold
by historyrepeats on Mar 08, 2009 10:03 PM
Unless the consumption power of Indian population is increased, no amount of rate cut in terms of CRR, Repo Rate , SLR , Reverse Repo , ECCB or any such monetary package to organisations/sectors will bear any fruit. Such measures on part of Govt only helps in capitalising Banks. But, no banks is willing to lend its money to Common Man because of fear of growing defaulters ?
How to increase consumption power of Common Man ?
Basic needs of Human Being: Roti , Kapada and Makaan.
Common Man spends about 50 to 60 per cent of its income in either paying EMI or House Rent ? Then where is the money left with him/her to spend money on other things.
Reducing rate on Home lone will not help . Why ? Because no person will ever think of purchasing House @ Rs. 20 Lacs to 50 Lacs . Not even if they are given House Loan. Because they know that they will not be able to repay . Initially they may repay for few months then they will default becoz of poor income package. If taken loan of 20 Lacs, this simply translates it into mortgaging their own life for paying EMI all through out his life.
Where is the affordable House ?
Govt. relaxed House loan rate on 5 Lacs House ? Do House at this price available in the market.
Only Solution :
a) Reduce the price of House within the bracket of 3/4- 5Lacs. Or b) Govt should come out with scheme of building affordable houses for Common Man and not for Investors. Ensure it does not fall in the clutches of Land Sharkers/Pro
Re: Re: Re: Re: Worries for Indian Economy to multiply manifold
by Rambabu Shastri on Mar 09, 2009 08:28 AM
With people losing their jobs, any amount of bailout will never lead to a bump up in demand. The politicians have not realised this, and have chosen to give bailouts to greedy companies that still eliminate jobs. These companies have then indirectly passed on those funds to politicians for the elections. See, the point is, every incentive so far, has only been to take care of supply side, but nothing for the common man. The bailout should not have been given at all in the first place. This would have ensured that the greedy companies fell, and the govt. should have nationalized them. This would have helped govts. to infuse and monitor funding utilizations. Common man would have still had their job intact. Indian govt. is lucky to have had Y V Reddy as RBI Governor, as due to his foresight, we have been spared much of the brunt by way of CDS, and so on. However, real estate bubble is still to correct deeply to ensure that we get back to realistic pricing. See HDIL... the Chairman's son bought a ferrari out of the IPO money. Now they are trying to show their Kurla apts have sold out 100 units, and they have increased price in 2 weeks by Rs.100 per sq ft. I do not think the fellows have even sold anything. Wait... Real Estate has to still correct more deeply.
Re: Re: Re: Re: Worries for Indian Economy to multiply manifold
by shanu on Mar 11, 2009 10:32 PM
hav u wrriten all this huge inteelltual stuff urself or copy paste frm smwhr... if no then u r a mad genius suffring frm chronic depression on verge of suicide like any mad genius...
Re: Re: Re: Re: Re: Worries for Indian Economy to multiply manifo
by historyrepeats on Mar 11, 2009 11:03 PM
Shanu- property broker/builder/mad/investor in property Whatever you are. You desperately need to get your medical check up done. Soon you will be collapsing with the slump in property prices.
This Wadhwa fellow should say how many H-1B workers are responsible for new innovations. The immigrants producing new innovations may not be the H-1B workers many of whom are just ordinary mediocre IT workers. Many of these H-1B workers are frauds from south India especially AP idiots. No wonder these people are treated like pests as they reside in US like filthy pests. S.S.Rajguru
Re: H-1B workers
by Rambabu Shastri on Mar 09, 2009 09:12 AM
That is an opinion. Cyber coolies are the bread and butter of the Indian IT Back office outsourcing business. The world will move towards protectionism in a big way, as priority is to safeguard national interest.
Re: H-1B workers
by JR on Mar 11, 2009 08:01 PM
Idiot...Wherever you go, you cannot tolerate other community popularity. Come out of typical Indian mind set and leave peacefully. Don't get too much scared of AP guys. Fraud is everywhere, check your backyard also. Got it stupid?!
USA HAS $13 TRILLION DEBT AND PROJECTED TO DOUBLE IN NEXT 10 YEARS. FOOLISH CHINESE AND ASIANS KEEP BUYING US DOLLAR AND US GOVT TREASURY BONDS (1% INTEREST) WHICH ALLOWS USA TO KEEP PRINTING MONEY AND SPENDING. WHY DONT INDIA AND CHINA HELP THEIR OWN PEOPLE INSTEAD OF HELPING AMERICA? WHY IS EVERYTHING TRADED IN DOLLARS? Study in USA if you want, work for 4-5 years if you have to and then return home. Its almost impossible to get green card these days. There is even talk of potential civil unrest in USA as economy goes down and people are high on guns, racism and drugs.
Re: USA = SOVIET UNION OF 1989
by Hare krshn on Mar 11, 2009 10:04 PM
Dat's true...thos who completed IIT are after USD....not for India...same case for China...
Re: Good for India
by great on Mar 07, 2009 11:59 PM
stop pointing fingurs on others.. if we are not united.. somebody takes advantage.. there are so many pakies.. do not disunited India... all we are doing only for survival.. we are not doing any harm to anybody... start thinking and stop blaming...
Re: Re: Good for India
by Buddu Pandya on Mar 08, 2009 12:18 AM
when only certain sects from India come here and spoil the otherwise a normal descent competition, why should rest take the burnt? how many times you thought for other Indians while earning dollars? dont pretend.
Re: Re: Re: Good for India
by great on Mar 08, 2009 12:27 AM
who do you mean by rest man.. we are all Indians.. if you can not enjoy other people success you never succeed .. common man.. try to think... do not blame.. if you can... help others otherwise stop... AGAIN WE ARE ALL INDIANS.. ALL INDIANS SHOULD BE RICH AND LIVE HAPPILY....
Re: Re: Re: Re: Good for India
by Buddu Pandya on Mar 08, 2009 01:06 AM
Did your affluence ever help India and Indians to live beyond the poverty level? Some Indians live below one dollar a month income? What your H1B is going to fetch for them? You are doing that for yourself. Dont pretend and behave like a pseudo India-lover. H1B is giving only a boost to IT people, others are just in dark. Once a stricter restriction is imposed the competition will be even-out. Many deserving candidates including Indians will be able to take a share of that pie.
Most H1B workers in the US are in the final stages of GC , thats because of the Gandhigiri campaign that led the Immigration authorities to allow everyone to file for I-140 and I-485 , so guys withh have EAD and will continue in the US. This will have virtually no effect in the US.
Obama has no idea of what he is talking about. No Indians are going to return to India on their own, unless desparate. Once in US you never go back.. Period!
