The article is well written and well timed . The timing is important because the burgeoning economy has resulted in overflowing Government coffers . The government is laughing its way to the bank but with all precautions that common public is not aware of wealth accumulated . Did the government imagine the inflation in the past two years when prices of crude oil , metals and all commodities have trebled - tax collections have ballooned three times with no extra effort from government . Government feels embarrased to increase duties , so it has introduced new Service Tax and Cess on all commodities , further adding to the collection . Now the babus are awestruck - they do not know how to put the wealth to good use - They do not want to open their mouths before the politicians - they know that politicians can make the wealth vanish in no time - leaving the entire nation - including the babus poorer . What then is the solution - definitely a better breed of babus will help - but more importantly we need bettr politians - because the powers and decisions to spend the money finally rest in the hands of the ruling politicians. GOD SAVE OUR NATION ( The prayer is despite the fact that INDIA is shining ).
It is great irony that Indian growth has been projected by stock markets. People should remember that only 2-3% are investing directly into markets. India has billion population and this growth figure is wrongly projected. Cabinet ministers are making hell lot of money by manipulating stock markets by creating political situations that could be helpful for them follow accordingly. India was not able to achieve continous growth rate of 9% for 3 years. Now people are talking about possible slowdown. Indian stock markets have been manipulated by big industrial houses and it is known that these folks are creating 1001 holding companies and are listing in exchanges and every day they're becoming billionaires and at one day they would become No.1 in the world. India would take pride for this fake guys. What about other small companies that have been crushed in this process by the big guy inorder to become a billionaire. Indian government is useless and it is not protecting upcoming people and others who'd truly contribute to the nation than these big guys. India is clearly under attack by stock markets which are nothing by fake and manipulated wealth.
RE:India under attack- By stock markets
by Rajesh on Oct 11, 2007 07:10 PM Permalink
Are you from another planet which has only morons? Indian Inc biggies are doing well in the Market doesn't mean it is manipulated, there are several smaller companies that are doing well. It is really structural growth in the economy that is reflected in the market.
It is fools like who can stand others success who are obstacles to progress. You need to be eliminated like a pest.
What is this Stock Market? A PUBLIC DISPLAY OF %u201CBLACK MONEY AND BETTING MONEY TRANSACTIONS?%u201D (and a chart for example) Kindly see my blog: http://joykj3.rediffiland.com/scripts/xanadu_diary_view.php?postId=1192100481 Joy
Indian stock Markets are rising and Sensex is crossed over 18000 points due to political stability. Inflation rate is also downfalled drastically and even GDP is also raised. RBI is taking initiative steps to bring down the interest rates by cutting CRR Rate.
But the inequalities of income & wealth is go on raising i.e rich becomes richer and poor become poor. Rates of basic necessaries are as usuall. Puchasing power of common man' deareaseing infact it should increase.even though the standard of living is not coming up what is the use of the Growth.
RE:Economic Growth
by ashish on Oct 11, 2007 05:55 PM Permalink
yes narsingh too and the roads aregettin worse and the pollution is gettin lethal and people still spit and pee ,wonder who is gonna take care of tat
RE:Economic Growth
by V S on Oct 11, 2007 06:13 PM Permalink
Narsingh that does not mean we should stop growing. Govt should develop basic infrastructure and improve governance.
India needs police reforms , political reforms and judicial reforms in order to have holistic growth.
IAS are filling the above gap, as 90% of Secretaries are IAS, they are the only capable,We are administered as per the norms of British Raj. No problem, more will be recruited. Forget all professionals.
Excellent article. There is an urgent need to introduce changes in bureaucracy. Senior bureaucrats should be encouraged/allowed to work for sometime in private sector. At present, loyalty to political leaders seems to be the only consideration in appointing officials in key positions.
