Debt of India is huge more than 60% of GDP. It should be downgraded to minus.If their money is more than 50% is fine. Credit Rating Agency should make a note of it
Re: India debt his huge
by Loga on Sep 02, 2011 06:34 AM
Who told you Indian debt is US $ 305.9 billion only 17.3 per cent of GDP not like USA and UK 100% of their GDP.
The so called Indian Black money in not lying 100% in Swiss or foreign banks. Large part of it is brought into India by the means of hawala to finance elections, building constructions, benami or proxy investments in share market, to fund other nefarious activity etc. Pl. read Ankaleshwaria Aiyar's article in the Times Of India some 3 weeks ago in Sunday Times edition in which he writes a column.
That is the reason why ( I am not taking names ) a large no. of people whose names you are hearing are known to be the Hawala operators & whose money handling is in terms of hundreds of crores of Rupees. There are a number of our politicians kith & kin are camping in Saint Kits and Mauritius etc for the purpose of redirecting this money.
God bless this country which is so great and so much endowed with good people but now taken over by crooks from a 100 year old political party.
Just today in a separate post rediff shows many of these very countries as having the largest debt in the world.
For example Luxemberg has a per capita debt of $ 3.70 million, and here it is shown as one of the strongest economy in the world.
Australia has a national debt of 90% plus of GDP and that country has a AAA rating, while India's debt is hardly 20% of GDP and more than 2 times its debt as current forex reserves and we have a BBB- rating. Is this not a contradiction in the outlook of western rating agencies?
Re: Contradictions
by Solnishka on Aug 15, 2011 02:36 AM
In financial terms the debt cannot exceed 70-80% of your Income and so they still are strong as their current debt reflects their 70-80% of current income. Unless the creditors foresee decline in projected income of their debtors, their ratings stand good. In case of India, we have a lot of Internal debt. The internal debt is over 75% of the annual GDP. The external debt is to the tune of 40% of the GDP. How did we then raise money in loans (debts) which is more than our GDP? By coming up with a concept called PPP. Though our GDP is approx 1 Trillion, the GDP in terms of PPP is about 2.5 Trillions and so our debt in terms of PPP is only about ~78% which is still very high.
Re: Re: Contradictions
by Solnishka on Aug 15, 2011 02:39 AM
if PPP is not considered then Our debt is about 128% of the GDP............ quite alarming and we are in a danger zone.
Why should not excise and customs duty abolished on petroleum products prices? Excise and customs duty on oil products may be abolished in systematic way over a period of time in parts. Hike of petroleum products’ prices is unjustifiable.
Why should not all property of temples, churches, mosques, etc. of India been nationalized? And that should have to came under the Reserve Bank of INDIA’S scanner!!!!!!!!!!! Nationalised property of all temples may come under the RBI scanner and not under Govt. of Manmohan scanner; note down!!!!!!!!!!!
Why the black money is kept in Swiss Banks? Why that had not brought back to INDIA even without declaring names?
Lot of questions having one answer i.e. willpower!!!
Re: LOT OF QUESTIONS HAVING ONE ANSWER I.E. WILLPOWER
by IMTIAZ KHAN on Aug 14, 2011 11:31 PM
If that happens then consumption will rise to such an extent that India's foreign debt would be bigger than the worst sufferers today.
Re: LOT OF QUESTIONS HAVING ONE ANSWER I.E. WILLPOWER
by Suresh Potdar on Aug 15, 2011 08:41 AM
The so called Indian Black money in not lying 100% in Swiss or foreign banks. Large part of it is brought into India by the means of hawala to finance elections, building constructions, benami or proxy investments in share market, to fund other nefarious activity etc. Pl. read Ankaleshwaria Aiyar's article in the Times Of India some 3 weeks ago in Sunday Times edition in which he writes a column.
That is the reason why ( I am not taking names ) a large no. of people whose names you are hearing are known to be the Hawala operators & whose money handling is in terms of hundreds of crores of Rupees. There are a number of our politicians kith & kin are camping in Saint Kits and Mauritius etc for the purpose of redirecting this money.
God bless this country which is so great and so much endowed with good people but now taken over by crooks from a 100 year old political party.
Re: ...
by IMTIAZ KHAN on Aug 14, 2011 11:35 PM
Check out properly. The US will not go down alone, it will take along Western Europe and China. Of China's total forex reserves of $ 3.20 trillion, $1 trillion is in US government securities and $ 800 billion is in Eurozone bonds. The options before China and the path it has taken to big power status is under serious challenge. I am not contending that it cannot work its way around, but the way forward is difficult. But whatever way it takes will deeply challenge its chosen path to great power status.
Who cares for the rating agencies. A year back, they rated Greece, Ireland and Portugal at AA. Now no one in the market wants to lend them any money. Rating agencies are so slow to respond to devleopment. By the time they downgrade, the market has already downgraded and rating agency only plays catch up. They dont have any credibility. France and UK are AAA with financial ratios worse than the US...let us see, within one year they will be downgraded too.
