Re: India can't be next Greek
by Sachin Purohit on May 27, 2012 10:25 PM
Keep dreaming. NRI remittances is just one part of the story. To put the complete story you simply need to see the end result. The end result is that the forex reserves have sharply depleted! In a BOP, you have two components - Current Account and Capital Account. NRI remittances is a small component of current account. A larger share is taken up by Trade Deficit/Surplus. We are a net importer because we have to import oil. Even the KG Basin that promised a lot of gas (thanks to overexaggerated claims by a thug called Mukesh Ambani) has failed on delivery. So even we are importing lot more LNG gas than we would have estimated. But this is just about current account. Due to flight of foreign investors - thanks to non-governance, capital account also is in depletion mode. RBI has had to sell dollars heavily to keep the rupee from slipping further and that has only added to even more depletion of forex.
FM/PM has totally failed to contain Rupee as well as inflation. Greek currency or any foreign currency effect do not matter as Indias share in world trade is hardly 2%. UPA has lost right to rule, they are passing time to hand over the power to someone, they are busy to mint money before retirement.
This Govt's faillure is the pointer that in reality a country's economy can not be run with theories and Central Bank interventions. Policies based on realities and their implemantation is the key. If wealth is not created no economc theory can save a economy. Pranab M was in best position to balance common sense with theories. For any reason he has failed to do so.
Pranab's performance as FM does not merit him to be elevated to Prsident. Or, may be, this country deserves such a Preisent only.
It is PVNR who decided to open up the economy, and called a economist to calculate and read the budget. Indian fools think that the economist done everything.
Its very shameful that our MPs, president, vice president, speakers and all others are making their pleasure trips around the world on the public money. They make one trip every month to foreign country along with their family on public money. its a great national shame that we have such looters in the parliament who are looting public money lavishly for their comforts. No one has any moral code of conduct.
Re: Foreign trips
by Mogu Engineers on May 22, 2012 03:52 PM
they are not on pleaseure trips but bon business trips. they invest their looted money abroad. for confirming whether this money is invested properly theu go on frequent foreign visits.
Its shame to see so many roll backs from our budget. Even the numbers quoted then were found to be erronous. But look at the opposition, thye are just not able to take so many opportunities provided by the ruling party to take over the charge and ask for elections. Instead they are just barking in the parliament and taking all adjectives to name the ruling party. Thus it is clear that even the opposition has no foresighted leader who can rule this country. It is as if indians are now lesser than the 3rd world just money licking people. It really needs a well known quote 'Jinhe naaz hai hind par wo kahaan hai'
Re: Re: Spineless govt and toothless opposition
by Raj on May 22, 2012 04:43 PM
As an opposition they should have asked for no confidence vote. Dont you think they are in a better position after so many huge scams are being exposed? Do you even know tht Morarji desais govt came down just b'coz price of onions were increased by 2 rs?? Opposition parties are not meant to just bark, they need to stop such stagnations of reforms. Dont imagine this opposition is playing fair and just, their 9opposite party's) role is as crucial as the govt., they can do much better to serve this nation then they have being doing till now. thts why they ve now become toothless. They have shown no tooth to take the unruly, attitudinal govt head-on and encourage reforms. Wht say?
The problem with Mr Mukherjee's arguments is that the Greek problem will not go away soon and after that there will be the Spanish, the Portuguese,the Italian, the Irish and several other problems.Are we going to continuously give excuses based on Europe ?
MADAM ONLY AGENDA IS STICK TO POWER BY PLEASING PEOPLE OF OUR NATION BUT THEY ARE FORGETTING THAT SPEND BEYOND MEANS TO JUST WIN VOTES WILL BACK FIRE AND TO IMPOVERISH ENTIRE NATION BY THEIR THIRD CLASS ECONOMIC POLICIES HISTORY WILL REMEMBER YOU FOR YOUR SINS AND OUR PM WHO WAS PIONEERED FOR ECONOMIC REFORM WILL BE REMEMBER AS DESTROYER OF WEALTH. BUT RIGHT NOW THESE PEOPLE ARE NOT WORRIED FOR THEIR IMAGE BUT IN HURRY TO ROBE NATION.
