"Minds differ as do rivers"(Macaulay )but great comments thus far, never answering why the standard of living of ordinary people have not gone up despite the so called GDP growth every year(does that mean it has benefitted to better the standard of living of only the black Money peddling and Real rich,) why despite the GDP growth and Industry- profit there existed unrecovered loans in banks and the much vaunted private sector has no investable surplus fund and why they were not investing there were parroting of Demonetization. When the loss due to the Black Money Kingdom is the life and livelihood of the poor of the country the Brokerage industry personnel are at arms digging grave for Indian Economy like that famous words "Adam digged with arms.Many comments had been in print without reference point and none owns responsibility the damage to economy inflicted thus far "Disregard for the past will never do us any good. Without it we cannot know truly who we are. -- Syd Moore . The question "The question is how do they know GDP will fall?"is well asked.What ever had been said is just numbers, If GDP had helped the living standard of people their health their dress ,their housing etc would be like that of the Chinese. We are so poor when compared to the chinese with our so called GDP growth or froth. R,PONNAMBALAM
May be it is true that the projections by each economist differs. Maybe his Bank has been more prudent and do not have a high NPA. His Chairman like every other economist did feel that demonetiation was perhaps a step to be taken. But the timing and what followed in creating problems for the honest and poor in not being able to get their own "white", hard earned money in the Bank, was because the RBI did not even have 10% of new money on Nov 9th. As the MD of one of the finest private sector bank, would he give loans when he dd not have enough money. Is it not a fact that despite liquidity, there were no takers for loans as economic growth was stifled. I have spoken to e several heads of banks and this was their problem. Mr Puri and HDFC is perhaps in a better position but one wonders if his ATMs had enough cash to dispense(no it is not so as I have been to their ATM twice to see a no cash) or his branches were able to meet the demands of all who stood in lines outside his bank! The future is yet to be seen!!
Short term pain is to the common man who are forced to deposit their lifelong savings in the bank and forced to stand in long ques multiple times under scorching sun to withdraw small amounts to meet their daily needs.Long term gain is for you and your corporate friends by creating more and more NPA's using the hard earned money of the common man. If this is not "organised loot" what else is this? Everything in the name of the poor who are unable to reply!!!
......this has been the most impacting progressive decision of NDA Govt. that will have far-reaching benefits on Indian economy leading to financial upliftment of every citizen in due course as the rupee appreciates and people have greater purchasing power in their hands.
......everywhere....banks seem to be keeping ATM withdrawal a little restricted as a policy for some time.....the intelligent Indian will know the reasons behind this......but there is no dearth of cash in most banks who prefer their customers to walk in and get the same withdrawn even in higher amounts upto rs.24000 in one go.....so nothing to worry anymore.Readers here may let their friends and others know this so more people go to the banks rather than waste their time standing in ATM-Queues.
Demonetisation of this proportions has never happened in the world history. So all the projections given by these rating agencies are based on some theoretical assumptions.
Know one has witnessed such a huge policy change to give proper prediction. Rating agencies are being bearish to be on a safer side.
Re: First in the world History
by Expert Comments on Dec 05, 2016 12:03 PM
. These economists never witnessed such a policy decision and hence their predictions are only theoretical and unreliable