RE:INDIAN ECONOMY
by v on Apr 29, 2007 08:58 PM Permalink
lol!!....u wanna kill the development???.....rupee value inc is not a cause for national pride....rather, it could result in an economical mess!!!
RE:INDIAN ECONOMY
by Murthy on Apr 30, 2007 07:21 AM Permalink
All economic boom is due to EXPORTS. Those employed in Exporting companies be it IT or goods are paid 3-5 TIMES more than normal Indians, Then these people goods and stimulate the whole economy.
Higher rupee = Indian goods uncompetitive = Lesser demand abroad = China killing Indian goose = Unemployment or lower wages here to compete = Lesser demand from Export employees = Reduction in demand from this privilaged IT employees = Slowing down of GDP back to the 70s 2-3% = End of Indian boom
RE:INDIAN ECONOMY
by Bengal Tiger on Apr 30, 2007 08:21 AM Permalink
Economic boom is a big concept, not just restricted to exports. Economic boom means double digit growth in GDP, very low rate of inflation, increasing in purchasing power, increase in savings rate... the list is endless. So, claiming that economic boom is related to exports are naive, majority of India forex reserves are because of inflows into our capital markets.
RE:INDIAN ECONOMY
by Murthy on Apr 30, 2007 08:26 AM Permalink
You are a fool who probably lives in a fool's paradise.
Japan, Germany, European Union all exported their way out to prosperity. Why is simple thing not getting in your head that export jobs may 3 to 6 times more in salaries and THESE PEOPLE PAY HIGHER TAXES and buy more goods than average stimulating entire economy.
In 80s exports were paltry at under $5 billion against $100 billion now, and growth rate was 2%-3%
RE:INDIAN ECONOMY
by Seenu Subbu on Apr 29, 2007 08:28 PM Permalink
My neighboring slum residents cannot afford to buy "luxury items" like toothpaste and shaving cream that costs Rs.50 to Rs.100 (forgive me, the prices were from my last visit in 2004). When the rupee appreciates to "1RS=40$", they will either have to roll over and die, or they will come and attack the haves. You seriously think India can achieve "1RS=40$" without taking care of the 650 million unwashed masses?
