we have been seeing this for so many years now. Salaried employees are being milked by taxing over and over again while the guys who really make loads of money in business get away scot-free. Chidabamram atleast tried to tax the businessmen by imposing VAT, but look what happened ! It was simply passed onto the consumers. So, we now end up paying VAT on top of sales tax ! This is clearly not sufficient and more work needs to be done in finding ways to make businessmen pay up.
This current bout of inflation certainly is due to failed UPA policies. Don't let these swindlers deceive you by their claims that this is a worldwide phenomenon. There is certainly an increase in fuel prices, but its adverse affects can be so easily mitigated by reducing the tax on gasoline and recover it from the tax-evading wealthy businessmen by framing and implementing the correct policies. Thus, UPA deserves all the brickbats it can get for royally screwing us. I am not saying that BJP would do any better than these scoundrels, but hey, something is better than nothing, isn't it ??
We kindly request you to investigate why different banks are following differnet policies. Eg: One Bank can give at 10% where as Some other Bank is giving at 12% - Both for same property, Same place, (best example is in Appartment). Also don't you think that these should be a law to goven the Interest rate hikes? I mean, why only one bank is increasing rate? others not at this time? Don't you think that it is necessary? Why is this inequality?
RE:Humble Request
by RA RA on Jun 20, 2008 11:16 PM Permalink
Even though loan rates are going up, the best way to beat inflation is stay invested in real estate.
The interest hike by the first housing finannce Instt is against the interest of middle class. HDFC is always a first mover in putting span in the dreams of middle class though the objective of founding this Instt was to help people buy homes for which the HDFC get funding from NHB at a lower rate. Also they collect deposits from public at less than 10% but the spread they earn is much higher than other banks also. Now the other banks will also hike the rate. The otherwise dull real estate market will further dip in the mud. Rising inflation and interest rate will further increase the cost of housing for the common men. Secondly, those who have already taken the loans on floating rate ill feel the pressure extremly as either their tenure of outgo will increase which may result in default also. This may turn into a crisis like sub-prime in USA. If this result into recession due to Inflation, default, Oil price etc then economic Growth will hurt very very badly. Is this the India's Finest Economic reformer's gift to countrymen after country has promoted him to Prime Minister. The policies of present Govt. is absolutely responsible for this.
Why not all HL borrowers come out on streets against this hike?
Like Gurjars get what they want through agitation... like all pro-reservationists force politicians tow their line ifthey take street rout... I think it is time for all Indians to come out and create a revolution against Govt.'s wrong economic policies which is destroying
RE:Against Interest of Interested Indians
by Raju Painter on Jun 20, 2008 10:29 PM Permalink
SuperPower,
Real Estate is a market best stirred clear off by the "middle class"!
When a person from the "middle class" jumps in this frying pan, he or she is bound to get fried completely!
Instead of buying "flats" that are effectively stacked-up shoes boxes, it would have been better if that money was invested in a real homes with land around them in Tier two or three cities!
The way India is "progressing", the collapse of its high-profile, high-demand metros is imminent!
The best bet now is the smaller, less populated cities and towns which will develop into better laid-out living areas (that is contingent on the developers and city planners learning their lessons from the disasters the major metros have become)!
If you followed the herd with its asinine instint and are getting cooked by the "hot" conditions, you have no one to blame but yourself!!
We indians first are stupid and idiots,many times the congress governments has fooled the people with there election manifesto,once they are elected they start screwing the middle class people of this country,we have to think of alternate to this and throw this government immediately,they have hiked the petrol prices,they are responsible for the present inflation.at least once this country has to go in military rule,so all the middle class should bear the suffering till this government is there,we have an absoultely useless prime Minister,who thinks that he is the biggest econimist and reformer,we have to bear the burden,i request the fellow indians,please never vote this congress who always fools the people and please throw this party in Indian ocean,and never give chance to come back.useless congress and useless dynasty rule,it is shame for the nation to have a dummy prime minister.
RE:Congress govt has to go
by Indian on Jun 20, 2008 10:07 PM Permalink
But your only alternative is killer BJP. We have to opt for either snake-bite or dog-bite.
