Why don't you look at the 94% of investors and give them more concessions?"We should recall glamour phrase of LEVEL PLAYING GROUND sought in late 1970s and early 1980s.In thrity years what is the contribution of Market Economy and Pvt. sector.We had given up manufacturing, drove away cococola when China was opening up and inviting.Comparae Chins's growth and ours in the past 30yrs.The Govt. and MARKET THE POWER should substantiate the well being it had brought about to the general public and to India to gain a stature as an Industriailzed nation with authenticated and unassailable data.This should come out first R.PONNAMBALAM
In many countries, people can borrow at 2% to 3% for housing, 3% to 4% for any investment. But here, our domestic investors have to borrow at 12% to 13%, sometimes more. So, we have to reduce the rate of interest.TRUE.Has in any other country their central bank has kept winking eyes to balance sheet fudging b y banks and allowed unrecovered loan to grow to 8 LAKH Crores,What is the loss of cash velocity and productivity momentum from this every year ?Why such data are not in the Public ?Why the loan disbursal was concentrated to to SUPER HIGH END PLAYER at Rs.44000 crores and the like ?Why the Govt. cannot run a steel Plant itself instead of giving 44000 crores to one man.The country befools the Public.R,PONNAMBALAM
.The reality is dismal as the ex.V.P. had said during the inaugural address at the 9th National Conference of the Indian Association of Lawyers”. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"’ &India is the 12th most inequitable economy in the world.India should not be shy to disclose the growth rate of income and wealth accumaulation of bottom 10% people ,20% people , 40% people and top 1% people, top 2% people top0.2% people etc.Foreigners are doing it !Oh! India No other country in the world ever boasted of having an eminent Economist as its P.M R.PONNAMBALAM
Re: Why data -statistics is not given in open to Public
by on Nov 14, 2017 11:30 AM
disclose the growth rate of income and wealth accumaulation of bottom 10% people ,20% people , 40% people and top 1% people, top 2% people top0.2% people etc as against the growth rate of GDP every year R.PONNAMBALAM
The reality is dismal as the ex.V.P. had said during the inaugural address at the 9th National Conference of the Indian Association of Lawyers”. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"’ &India is the 12th most inequitable economy in the world,The present world is date driven also not just of camouflaging statements driven Why India is shy of putting growth rate every year of people at various level as against the GDP growth or froth R.PONNAMBALAM
Absolutely not. “Our economy is doing well.”Who all make up this OUR of our economy.What is GDP ?Is it Gross domestic Poverty?” the rate of investment “The rate of investing had not been picking up or have gone down”The Pvt.which had enjoyed the bank money as investment for investing has amassed.as the research paper says” Over 1950-1980 the bottom 50% captured 28% of the total growth and the income. Over 1980 -2014 bottom 50% had 11%) and top 0.1%Earners captured a higher share of the total growth than the bottom 50%(12%versus 11%) Research paper by Thomas Piketty and Lucas Chancel renowned economists web site WID.world.Why India and it’s ECONOMICSDOM does not bring out the income growth and wealth growth of bottom 10%.of people 20%of people . 30%of people 40%of people , and top 10% as against the growth of GDP.Is the disparity shown above qualify it to say that our economy is doing well when as per 42nd Amendment to the constitution in 1976, India by being socialistic should have got wealth generated socially and should be shared equally by society and the .Government should have regulated the ownership of land and industry to reduce socio-economic inequalities.The reality is dismal as the ex.V.P. had said during the inaugural address at the 9th National Conference of the Indian Association of Lawyers”. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"’ &India is the 12th
THOUGH RBI HAD THE FIGURES OF RETURNED DEMONETIZED NOTES STILL THE RBI SAYS COUNTING NOT YET OVER. AS THE RBI IS INEFFECTIVE IN COUNTING IT SHOULD BE OUTSOURSED
In the 80s this manch had conducted a nationwide padyathra all over India, collected signatures against the Govt on many issues. Two very important issues: 1. The Petroleum product prices are very high 2. Govt. is keeping the Dollar to rupee conversion rate at a very high level to help US. What they can explain now to people who participated in that campaign??
Article is talking about investment etc., but no attention is given to cost cut, biggest is DA linked pension, today we have 60 lakhs pensioners whereas regulars are 48 lakhs, similarly army is 13 lakhs, pensioners are 30 lakhs, rly incurs about 27% of its revenue on pension, this is all due to increase in average age by 20 years of Indians, as well as DA linked pension given to all these people, this is totally unproductive and undemocratic way to pay only to govt. servants and politicians. This official loot must stop, govt. can easily save few thousand crores. Every govt. employee and politician should get interest on their accumulated balance instead of this big anomaly. It is noticed, a fellow who was getting a pension of Rs.15,000 in 2006 now getting Rs.80,000/- at tax payers cost.
Re: Economy
by RAJ on Nov 14, 2017 10:27 AM
Have you seen the P&L of most of the big banks?? The net profits are zooming!! LY SBI TL was 175500 Cr & GP 59800 Cr , ICICI 54000 Cr GP was 9800 Cr, HDFC 25700 Cr and GP 6900 Cr. On what basis these banks are earning, poor people give them FDs and Govt is just reducing the interest on that and these banks are giving credit on our FDs to customers and making huge profits. Under any circumstance the bottom line of banks should not be more than 2-3 % of Top line. Dear ciitizens wake up and then comment.The writer of these articles should do this analysis and ask these questions . All the corporates are gaining due to lowered interest rates , banks are gaining but poor idiots who invest in FDs are real losers. Jai Hind
Re: Re: Economy
by Gladyschellam on Nov 14, 2017 10:59 AM
Mr. Raj: What would you with your savings - will you keep it with no earnings. If savings int rate is reduced borrowers int rate also reduced which is good for economy.
Since 2015 most banks inclusive of Pvt Bankis show either less profit or loss which is a bad sign of Indian Economy. Interest spread is not more than 4% - however due to NPAs and poor loan demand banks fail for the past 7/8 quarters.
Re: Re: Re: Economy
by RAJ on Nov 14, 2017 11:22 AM
Gladyschellam ji , dont comment thinking others as fools, I have given some analysis based on facts. NPA or other defaults are a part of week business processes. Let the interest comes down to 3% I shall be happy. Its better for us to understand the holistic economic approach and must not make FD interest as scapegoat. I hope you will write next comment with some data. Jai Hind.
Re: Re: Re: Re: Economy
by Gladyschellam on Nov 14, 2017 12:24 PM
Sir Once again I request you to verify the earnings of every bank comparing with 2015 and earlier with 2017 figures. Further I would like to add that Interest Spread is not more than 4%. Banks are lending from 4% to 14.5%. More attention (statutory) is being given to small agriculturist, economically poor etc being called as Priority Sectors - 40% of their advances to be made to these sectors. Just I shall place before you the performance of 4 banks in crores
SBI 2017 - P 10500. 2015 P 13100. Bank of India: 2017 L 1558 and 2015 P 1708 UCO 2017 L 1850 - 2015 P 1137 IOB 2017 L 3417 - 2015 L 454
More banks show either loss or lesser profit inclusive Pvt banks. If there is more demand for loans, deposit rates go up is the simple theory. If banks recovery over NPA is higher profitability is higher. If more Current & Savings (CASA) accounts increase, the banks get more profit.
Re: Re: Re: Re: Re: Economy
by RAJ on Nov 14, 2017 02:43 PM
The problem is you havent understood the my mssg properly. If banks reduce the diff between borrowing rate and lending rate , it will still fulfill the objective but their bottom line will shrink. Also they are not fixing the FD rates on their own , it is governed by RBI(Govt). The way you have studied above data , now study the BS of top 10 companies who owe 180,000 Crore to banks. I hope you will understand the meaning of reduction of lending rates by 3% by banks to them.Its almost 6000 crore gain to them pa. Jai Hind
Re: Re: Re: Re: Economy
by Gladyschellam on Nov 14, 2017 12:24 PM
Sir Once again I request you to verify the earnings of every bank comparing with 2015 and earlier with 2017 figures. Further I would like to add that Interest Spread is not more than 4%. Banks are lending from 4% to 14.5%. More attention (statutory) is being given to small agriculturist, economically poor etc being called as Priority Sectors - 40% of their advances to be made to these sectors. Just I shall place before you the performance of 4 banks in crores
SBI 2017 - P 10500. 2015 P 13100. Bank of India: 2017 L 1558 and 2015 P 1708 UCO 2017 L 1850 - 2015 P 1137 IOB 2017 L 3417 - 2015 L 454
More banks show either loss or lesser profit inclusive Pvt banks. If there is more demand for loans, deposit rates go up is the simple theory. If banks recovery over NPA is higher profitability is higher. If more Current & Savings (CASA) accounts increase, the banks get more profit.
Re: Re: Re: Re: Economy
by Gladyschellam on Nov 14, 2017 12:26 PM
Sir Once again I request you to verify the earnings of every bank comparing with 2015 and earlier with 2017 figures. Further I would like to add that Interest Spread is not more than 4%. Banks are lending from 4% to 14.5%. More attention (statutory) is being given to small agriculturist, economically poor etc being called as Priority Sectors - 40% of their advances to be made to these sectors. Just I shall place before you the performance of 4 banks in crores
SBI 2017 - P 10500. 2015 P 13100. Bank of India: 2017 L 1558 and 2015 P 1708 UCO 2017 L 1850 - 2015 P 1137 IOB 2017 L 3417 - 2015 L 454
More banks show either loss or lesser profit inclusive Pvt banks. If there is more demand for loans, deposit rates go up is the simple theory. If banks recovery over NPA is higher profitability is higher. If more Current & Savings (CASA) accounts increase, the banks get more profit.
Re: Economy
by suresh kumar on Nov 14, 2017 10:28 AM
In other countries, a good portion of tax collected is spent on social security measures for the retired people. Here, true to your legacy, want to massacre the old, who toiled for nation all along their younger days. Dont forget, you are also going to wilt and whither..
Re: Economy
by Gladyschellam on Nov 14, 2017 10:45 AM
Pension is not being paid at tax payers cost and it is being paid from Pension Funds - accumulated from the savings of an employee for about 30-35 years. Very few pensioners survive beyond the national average of life expectancy of about 68 years. If a pensioner dies at the age of 61 to 68 years, his 35 years of savings less total pension paid is not been paid - and a small portion is being as Family Pension. In fact the govt is not the loser but gainer. It is as good as LIC and Banks Retirement Plan a/c wherein the legal heir would get the Principal amount (saved) in the event of death of account holder but the monthly pension is static. With the same principle govt advertised for PMs ATAL pension scheme.
Re: Re: Economy
by arungopal agarwal on Nov 14, 2017 10:53 AM
Mr. Gladyschellam, then convert total EPF money-i.e. private sector money into Govt. pension fund and everyone must get DA linked pension like govt. servants.
Re: Re: Re: Economy
by Gladyschellam on Nov 14, 2017 11:08 AM
Mr Agarwal I shall be thankful if I am enlightened as I am under the impression that EPF pensioners are also getting with DA linked. Also I have no Idea of small companies. Hitherto I am under the impression that pension is being paid based on the quantum of savings.
Re: Re: Re: Re: Economy
by arungopal agarwal on Nov 14, 2017 11:23 AM
Only politicians and govt. servants have right to get DA linked pension with revision along with others. Govt. took correction in 2004 onward, but by the time, employees joined upto 2003 retires, total budget will be empty in pension only. Besides this every govt. employee after retirement is getting replaced his knee and putting stent in his heart at our cost. Can see any private branded Hospital.
Re: Re: Re: Re: Re: Economy
by Gladyschellam on Nov 14, 2017 11:52 AM
Sir - Out of my experience in Banking I would like to share that EPF pensioners (Textile Mills retirees) are getting DA linked Pension and once in 6 months it varies. In banking the pensioners are not getting based on revision and there is disparity between govt and bank employees. Similarly with Central, Central Civil, Defence and Railways and State Govt.
There is a formula for calculating pension - in terms of service, Basic Pay and age. I think every dept maintains separate accounting system - may be depends on their funds availability in the system. However I opin it does not affect the govt's exchequer.
However I request you to disseminate in this regard.
