Indian Rupee hits new low, breaches 70-mark for first time against US dollar [Update Post #316]

[Namak_Halaal]

India has announced a number of measures to prop up the rupee, which has been falling against the US dollar.

The limit on foreign investment in government bonds has been increased, among other steps.

The Indian currency, which has fallen almost 25% in the past year, dropped to 56.80 to the US dollar after the announcement.

Analysts say the fall was down to disappointment over the lack of major reforms to boost growth.

India's central bank also announced measures such as allowing sovereign wealth funds, endowment funds, pension funds and foreign central banks to invest in government bonds to boost the rupee.

The prime minister's top economic advisor C Rangarajan said Monday's measures will have limited impact on the currency in the short term.

"I think the correction will happen over time, because it will happen only when the capital flows come in. The avenues have been opened," he told a news channel.

The drop in the currency has coincided with a slowdown in India's economic growth.

India's economy expanded at an annual rate of 5.3% in the first quarter, the slowest pace of growth for nine years.

The slowdown has resulted in calls for the Reserve Bank of India to cut interest rates. However, the weakness of the rupee has made things complicated for the central bank.

A weak currency has contributed to rising consumer prices in the country. The high rate of inflation was the key reason cited by the central bank when it left its interest rates unchanged earlier this month.

India's economy has been going through a rough patch in recent times. Many analysts have said that it needs to introduce a fresh wave of economic reforms to sustain long-term growth.

Last week ratings agency Fitch cut its outlook for the Indian economy to negative, saying there were "heightened risks" to its growth.

It said that India's growth potential: "will gradually deteriorate if further structural reforms are not hastened".

Another ratings agency, Standard & Poor's, has also warned that India may lose its investment-grade status.

Analysts said that India's policymakers needed to take care of these issues to boost confidence among investors and improve the country's investment climate, rather than relying on short-term measures to support the rupee.

http://www.bbc.co.uk/news/business-18575487

Oh well, it was fun while it lasted.

 

[Eagle_Eye]

So it begins.....

 

[Naraku]

why are we rejoicing when we are at the bottom of the barrel ourselves?

 

[wasim-fan]

Oh well, it was fun while it lasted.

I am confused. What lasted ? The fall in rupee. That will continue or stabilize at around 55. Don't see how the situation could change drastically given the global factors.

 

[pakistanalltheway]

why are we rejoicing when we are at the bottom of the barrel ourselves?

By we he means Indians

 

[Namak_Halaal]

why are we rejoicing when we are at the bottom of the barrel ourselves?

Read the OP - India Rupee and India stock market are the worst performing in Asia.

Pakistan is not at the bottom of the barrel, India is.

I am confused. What lasted ? The fall in rupee. That will continue or stabilize at around 55. Don't see how the situation could change drastically given the global factors.

The economic boom in India – it’s well and truly over.

 

[speed]

I don't think we should be happy about this.

 

[Eagle_Eye]

why are we rejoicing when we are at the bottom of the barrel ourselves?

Oh please... you are fooling no one.

Now hurry up and start another negative Saudi thread

 

[Naraku]

Read the OP - India Rupee and India stock market are the worst performing in Asia.

Pakistan is not at the bottom of the barrel, India is.



The economic boom in India – it’s well and truly over.

Pakistan economy is propped up by US aid. There was a chart I came across which shows that Pakistan economy historically rides the ups and downs with the flow of US aid, which has now reached $60bn since 1947.

 

[Namak_Halaal]

Pakistan economy is propped up by US aid. There was a chart I came across which shows that Pakistan economy historically rides the ups and downs with the flow of US aid, which has now reached $60bn since 1947.

Please do your research.

Pakistan KSE was the best performing SE in ASIA in the 00s until 08

Thankfully Pakistan doesn’t have to sustain 1.2 Billion by propping up a falsehood.

 

[Ambi]

Good news for non resident indians,now they can invest more money in india

 

[Equinox]

Still better than the 2% growth achieved annually by Pakistan in the last ten years

Good times for Indian exporters.

 

[QazzarFan]

NH's obsession with India & Indians

 

[akheR]

Still better than the 2% growth achieved annually by Pakistan in the last ten years

Good times for Indian exporters.

Source ?

 

[Pakistaniboy]

NH's obsession with India & Indians

So Funny

Relevant to this thread?

 

[Senman]

Please do your research.

Pakistan KSE was the best performing SE in ASIA in the 00s until 08

Thankfully Pakistan doesn’t have to sustain 1.2 Billion by propping up a falsehood.

Really an eye opener. Thanks N_H, I came to know the huge infrastructure projects that are being built all-around India are falsehood because of your wonderful insight and in-depth knowledge of Indian economy.

Infact I am packing my bag to settle in to Pakistan which had 8 years of booming KSE from 2000-2008, what more proof anyone can ask to determine that it is the best economy in the world.

 

[Namak_Halaal]

Really an eye opener. Thanks N_H, I came to know the huge infrastructure projects that are being built all-around India are falsehood because of your wonderful insight and in-depth knowledge of Indian economy.

Infact I am packing my bag to settle in to Pakistan which had 8 years of booming KSE from 2000-2008, what more proof anyone can ask to determine that it is the best economy in the world.

Are you talking about infrastructure projects which put phones ahead of toilets? Now that's an eye opener.

Don't be afraid.

It will be over soon.

Got Gold?

 

[Senman]

Are you talking about infrastructure projects which put phones ahead of toilets? Now that's an eye opener.

Don't be afraid.

It will be over soon.

Got Gold?

oh the toilet humor again

what next slum?

I can think of more than a million derogatory remarks about Pakistan economy and make fun of it but am not going to stoop to your level because ultimately it means making fun of poor people.

What both India and Pakistan need is trade and peace between them but people like you who sit 1000 miles away and try to poke fun at poor people just to get high will never understand it.

 

[Namak_Halaal]

oh the toilet humor again

what next slum?

I can think of more than a million derogatory remarks about Pakistan economy and make fun of it but am not going to stoop to your level because ultimately it means making fun of poor people.

What both India and Pakistan need is trade and peace between them but people like you who sit 1000 miles away and try to poke fun at poor people just to get high will never understand it.

So is that a yes or a no?

I don't think you even understand the gravity of the OP.

PS: Point on toilets is not humour, its a fact reported in the news highlighting the disparity of wealth distribution in India followin the economic boom. You feel offended by the news because you know it's the truth hence it embrasses you. But carry on, I would like read more on infrastructure projects in India - money well spent.

 

[PakPrince]

Oh well, it was fun while it lasted.

dude are you slow or what

in the llast 4 years Pakistan rupee has gone down the drain with a 1 US$ worth-5 around Rs.60 in 2007 and now it being worth over Rs.95

unemployment and inflation is rampant. every economic indicator of Pakistan is terrible and you are rejoicing at sth insignificantly negative for India

wierd as hell you are! your obsession with India and everything Indian is unhealthy

 

[Namak_Halaal]

dude are you slow or what

in the llast 4 years Pakistan rupee has gone down the drain with a 1 US$ worth-5 around Rs.60 in 2007 and now it being worth over Rs.95

unemployment and inflation is rampant. every economic indicator of Pakistan is terrible and you are rejoicing at sth insignificantly negative for India

wierd as hell you are! your obsession with India and everything Indian is unhealthy

I don't think you understand the OP either.

As for Pakistan, Pakistan's economy was ace during the 00s for the reason pakistan doesn't need to support 1.2 Billion.

 

[Senman]

So is that a yes or a no?

I don't think you even understand the gravity of the OP.

PS: Point on toilets is not humour, its a fact reported in the news highlighting the disparity of wealth distribution in India followin the economic boom. You feel offended by the news because you know it's the truth hence it embrasses you. But carry on, I would like read more on infrastructure projects in India - money well spent.

I feel offended by the smiley and comments you and few others made taking joy at plight of poor. Leave India what have you done to improve the situation in Pakistan as a Non-resident Pakistani? All you can do is make some slum/toilet jokes about India and wait for someone to take the bait. Dude go get a life.

 

[Myrmidon]

why are we rejoicing when we are at the bottom of the barrel ourselves?

this

 

[Animal]

NH's obsession with India & Indians

Good catch! ::kami

 

[Namak_Halaal]

I feel offended by the smiley and comments you and few others made taking joy at plight of poor. Leave India what have you done to improve the situation in Pakistan as a Non-resident Pakistani? All you can do is make some slum/toilet jokes about India and wait for someone to take the bait. Dude go get a life.

I have not appended a toilet comment with smilies. Which thread are you reading? You were indirectly boasting of India's infrastructure projects and when the question of basic humanitarian rights came into question you play your trump card. Why?

Look, this thread isn't about Pakistan, it's about the beginning of the end of India's boom story, because the truth is you owe your Indian bragging rights to India's economic boom. Boom over, bragging rights over.

Anyway, it's clear as daylight you neither understand nor appreciate the significance of the OP. I don't blame you, because it's the common man who falls victim of capitalism.

Currency debasement and hyperinflation. Look em up.

PS: Buy Gold.

 

[DesiMunda]

I would like read more on infrastructure projects in India.

Here's a nice list of the ongoing projects:
http://www.skyscrapercity.com/showthread.php?t=1259909

 

[Namak_Halaal]

Still better than the 2% growth achieved annually by Pakistan in the last ten years

Good times for Indian exporters.

Good time for Indian exports? What exactly does India export other than cheap labour? Rice and Wheat are banned from being exported (from memory) because India has to feed it's own before the world. What next? Fertiliser? Hmmm. Bollywood? IPL? What exactly does India export?

Europe benefits from a respective weak currency whether it is GBP or EUR, for the simple reason Europe exports quality, not quantity!

 

[Myrmidon]

I feel offended by the smiley and comments you and few others made taking joy at plight of poor. Leave India what have you done to improve the situation in Pakistan as a Non-resident Pakistani? All you can do is make some slum/toilet jokes about India and wait for someone to take the bait. Dude go get a life.

i agree with this

anybody who laughs at the misfortunes of poor people are the lowest of low

 

[Equinox]

Good time for Indian exports? What exactly does India export other than cheap labour? Rice and Wheat are banned from being exported (from memory) because India has to feed it's own before the world. What next? Fertiliser? Hmmm. Bollywood? IPL? What exactly does India export?

Europe benefits from a respective weak currency whether it is GBP or EUR, for the simple reason Europe exports quality, not quantity!

Well whatever they export, they export more than $300 billion dollars worth of it.

 

[Namak_Halaal]

@Indians: Control your anger, only then will you realise I am doing a favour to you with this thread.

Read the OP carefully. If there is something you do not understand then kindly ask - I will not bite!

 

[Senman]

I have not appended a toilet comment with smilies. Which thread are you reading? You were indirectly boasting of India's infrastructure projects and when the question of basic humanitarian rights came into question you go all weasy on me. Why?

Look, this thread isn't about Pakistan, it's about the beginning of the end of India's boom story, because the truth is you owe your Indian bragging rights to India's economic boom. Boom over, bragging rights over.

Anyway, it's clear as daylight you neither understand nor appreciate the significance of the OP. I don't blame you, because it's the common man who falls victim of capitalism.

Currency debasement and hyperinflation. Look em up.

PS: Buy Gold.

OK bragging rights are over for us. So?

I more than understand the predicament India is in now and I also understand the GOI's stand on that. I understand the reforms/policies needed to come-out of this and I know what my Government is doing. I also know what I will do if the current government doesn't fulfill its promises. What do you think India is the only country with slowing growth rate? go figure.

I will never appreciate of those who put a smiley under negative news just because it is from another country because the economic downfall will hurt the poor most and you are laughing at them.

I hope when you question the basic humanitarian rights of Indians you will also do the same for Pakistanis, I am starting to doubt your expertise (on basic humanitarian rights) doesn't cover your second country.

I clearly understand your agenda here. Just to make yourself happy you can assume that Indian growth story is a myth and illusion, I hope you got your high.

 

[Namak_Halaal]

OK bragging rights are over for us. So?

I more than understand the predicament India is in now and I also understand the GOI's stand on that. I understand the reforms/policies needed to come-out of this and I know what my Government is doing. I also know what I will do if the current government doesn't fulfill its promises.

I will never appreciate who put a smiley under negative news, what do you think India is the only country with slowing growth rate? go figure.

I hope when you question the basic humanitarian rights of Indians you will also do the same for Pakistanis, I am starting to doubt your expertise (on basic humanitarian rights) doesn't cover your second country.

I clearly understand your agenda here. Just to make yourself happy you can assume that Indian growth story is a myth and illusion, I hope you got your high.

The Toilet point is a pertinent point because it highlights just how inept the Indian government is. Do you not see this? It angers you not because I highlight the Toilet point but because the Indian goverment has failed you.

The poor suffering is proof that India's economic boom hasn't benefited the nation but only selfish and corrupt Indians individuals who store their wealth in Swiss bank accounts.

Don't be upset with me. Blame your government. Use your democratic vote to bring about change.

 

[DesiMunda]

What exactly does India export ?

Mostly Engineering Products, Petroleum Products, Agricultural Products, Chemicals, Textiles, Leather Goods, Medical Appliances, and of course IT and other Services (though as far as I know, the Indian government doesn't include it under export for some reason)

 

[DesiMunda]

The Toilet point is a pertinent point because it highlights just how inept the Indian government is. Do you not see this? It angers you not because I highlight the Toilet point but because the Indian goverment has failed you.

Koshish kar rahe hain hero. They've spent around $5 bln on the sanitation project. Things are improving but sadly things move slowwww in our desh.

Don't be upset with me. Blame your government. Use your democratic vote to bring about change.

Indians have been doing that non-stop for the past 60 years. Don't think we need lessons on democracy from Pakistan

 

[speed]

I have not appended a toilet comment with smilies. Which thread are you reading? You were indirectly boasting of India's infrastructure projects and when the question of basic humanitarian rights came into question you play your trump card. Why?

Look, this thread isn't about Pakistan, it's about the beginning of the end of India's boom story, because the truth is you owe your Indian bragging rights to India's economic boom. Boom over, bragging rights over.

Anyway, it's clear as daylight you neither understand nor appreciate the significance of the OP. I don't blame you, because it's the common man who falls victim of capitalism.

Currency debasement and hyperinflation. Look em up.

PS: Buy Gold.

indian economic boom 2000-2010= indian cricket team doing well

what does the future hold now for Indian cricket team?????

 

[withlovefrom vizag]

N_H,Pakistan is struggling really bad from terrorism,corrupt politicians.Why dont u focus on ur country do something to change that.....

And comparing Pak's economy with India is a cardinal sin

 

[Senman]

The Toilet point is a pertinent point because it highlights just how inept the Indian government is. Do you not see this? It angers you not because I highlight the Toilet point but because the Indian goverment has failed you.

The poor suffering is proof that India's economic boom hasn't benefited the nation but only selfish and corrupt Indians individuals who store their wealth in Swiss bank accounts.

Don't be upset with me. Blame your government. Use your democratic vote to bring about change.

OK we will do that. But still I can't understand the meaning behind the smiley @OP unless you take pleasure in the sufferings of people.

 

[Green Leopard]

Isn't this currency depreciation a case for all the big developing countries.

Only last week I read how Brazil's, Russia's, South Africa's currency have all depreciated big time against the US Dollar over the last 12 months

It just seems good money (investment) is flowing out of these economics due to global economic problems.

 

[Namak_Halaal]

Koshish kar rahi hain hero. They've spent around $5 bln on the sanitation project. Things are improving but sadly things move slowwww in our desh.

Great! Now there's no reason to be upset with me.

Indians have been doing that non-stop for the past 60 years. Don't think we need lessons on democracy from Pakistan

Firstly I am not a proponent of Democracy in it's current form, so save the Pakistan line. Secondly, wake up. Democracy has never been tested on 1.2 Billion, until now, and the result is a complete abject failure of epic proportions because India has an UNELECTED PM in office at the moment.

 

[Looney]

Economy is slowing down pretty much everywhere . The world has become a global village and if a couple of major economies , that includes China and India too , slow down , other major economies will be affected too .

 

[Senman]

Great! Now there's no reason to be upset with me.



Firstly I am not a proponent of Democracy in it's current form, so save the Pakistan line. Secondly, wake up. Democracy has never been tested on 1.2 Billion, until now, and the result is a complete abject failure of epic proportions because India has an UNELECTED PM in office at the moment.

ohhhhhhhh we are scareeeeeddddddddddd.

 

[Namak_Halaal]

OK we will do that. But still I can't understand the meaning behind the smiley @OP unless you take pleasure in the sufferings of people.

The smily in the OP was In reference to the impending responses. Nothing sinister.

Seriously, buy Gold, and Silver!!!

 

[Naraku]

@ Namak

Not sure what you are gloating about. There are no foreign investments and corporations coming to Pak, all the foreign companies were either hijacked or target killed in Pakistan, vividly remember the targetting of American executives in Karachi (PIDC square), and PanAm hijacking. There used to be BOA, Grindlays Bank, ...bunch of other companies, they all wrapped up and left Pak, this was all well before 9/11.

India is not a first world country, but still their graph is upwards, ours is downwards. All our strong industries; steel, power, sports, have been hit hard and corruption is rampant. No one wants to invest in Pakistan because of security situation (again well before 9/11).

Any multi-national company I can think of has a major presence in India. Indians can work in top companies in India, we in Pakistan just dont have that.

Terrorism related industry is bringing in the most cash for Pakistan, through US aid, we need to go away from this and follow India's example!

 

[Namak_Halaal]

ohhhhhhhh we are scareeeeeddddddddddd.

Hehehe

You were doing so well.

 

[DesiMunda]

Great! Now there's no reason to be upset with me.

I wasn't upset with you

Firstly I am not a proponent of Democracy in it's current form, so save the Pakistan line.

Do you prefer some other utopian form of Democracy ?

Secondly, wake up. Democracy has never been tested on 1.2 Billion, until now, and the result is a complete abject failure of epic proportions because India has an UNELECTED PM in office at the moment.

Parliamentary Democracy.

 

[akheR]

The problem with economy "slowing down" in developing countries is that it has direct social consequences and I don't know if you find "funny" that hundreds of thousands of peoples will get poorer.

I think that the territorial Partition has happened, but mentally you're still concerned by India enough to worry about its economy more than Indians themselves, you should perhaps open one mega-thread (like one on Bollywood or "positives from India") called "Myth of India's Growth" because every-time the arguments are the same and the Indian answers too (responding generally to the "toilet" matter.)

 

[Namak_Halaal]

Do you prefer some other utopian form of Democracy ?

I prefer one man one vote. Not a weighted vote.

Parliamentary Democracy.

The truth of the matter is there is no precedence for democracy functioning in a population of 1.2 Billion. The math says the Indian vote is worth the least compared to any democratic vote around the world; it's worth less than the Pakistani vote too - this is because of the ratio between one Indian and the sheer size of the Indian population.

 

[Senman]

Hehehe

You were doing so well.

One thing we will never worry about is the failure of Democracy in India. Nothing else will work.

But seriously dude you as a NRP as a community need to do something for Pakistan. I see the trend of gloating among NRP's(I don't know whether its the correct term for Non-Resident Pakistan) and NRI's but what India and Pakistan need is trade & peace that way we can uplift more poor people out of poverty in both countries. And I believe that can change people like you who put smileys on others misery.

 

[Senman]

I prefer one man one vote. Not a weighted vote.




The truth of the matter is there is no precedence for democracy functioning in a population of 1.2 Billion. The math says the Indian vote is worth the least compared to any democratic vote around the world; it's worth less than the Pakistani vote too - this is because of the ratio between one Indian and the sheer size of the Indian population.

Oh man this is getting funny, do you think we only elect MP's through voting )

 

[Namak_Halaal]

@ Namak

Not sure what you are gloating about. There are no foreign investments and corporations coming to Pak, all the foreign companies were either hijacked or target killed in Pakistan, vividly remember the targetting of American executives in Karachi (PIDC square), and PanAm hijacking. There used to be BOA, Grindlays Bank, ...bunch of other companies, they all wrapped up and left Pak, this was all well before 9/11.

Before 9/11? What hindsight. KSE ended up being the best performer in the 00s.

@
India is not a first world country, but still their graph is upwards, ours is downwards. All our strong industries; steel, power, sports, have been hit hard and corruption is rampant. No one wants to invest in Pakistan because of security situation (again well before 9/11).

Pakistan’s situation is a blip, India’s is a trend.

Any multi-national company I can think of has a major presence in India. Indians can work in top companies in India, we in Pakistan just dont have that.

Many Companies in the West are ruing the day they moved their call centres and IT team to India.

Terrorism related industry is bringing in the most cash for Pakistan, through US aid, we need to go away from this and follow India's example!

Terrorist related industry? Pray tell.

Its best Pakistan doesn’t follow India’s example (there’s a reason why KSE was the best performer in 00s).

Indian economy is toast.

 

[KingKhanWC]

I really have never understood why some Indians were enjoying this so called boom of India when there are more people in poverty than sub Saharan Africa? This will only get worse as their population booms and the nations goes back many steps.

also lol@Qazzarfan, the irony of his claim.

 

[Namak_Halaal]

Oh man this is getting funny, do you think we only elect MP's through voting )

Of course not through voting.

How else do you explain an unelected PM in office? Shing example of democracy.

Then Indians have the audacity to claim M. Singh was voted in the name of secularism?

Your worries have moved on from democratic India. Your worry now is protecting your sovereignty that is the Indian Rupee while maintaining an optimistic front to the world.

 

[DesiMunda]

I prefer one man one vote. Not a weighted vote.

So they all elect one leader to head the country ? Like the US Presidential system ?

The truth of the matter is there is no precedence for democracy functioning in a population of 1.2 Billion.

How many countries with a population of 1.2 Billion are there ? India and China. So you're suggesting the Chinese model for India ? Lets do a test run in Pakistan first maybe ?

The math says the Indian vote is worth the least compared to any democratic vote around the world; it's worth less than the Pakistani vote too - this is because of the ratio between one Indian and the sheer size of the Indian population.

They vote in their constituencies. These are local elections, and they deal with their locally elected leaders. So your math doesn't add up as the power of their vote is dependent on the size of the constituency which isn't that big.

 

[Namak_Halaal]

How many countries with a population of 1.2 Billion are there ? India and China. So you're suggesting the Chinese model for India ? Lets do a test run in Pakistan first maybe ?

Hence unprecedented. The truth is Indian democracy is in uncharted territory.

No need for a test run on Pakistan, we know it works, or have you forgotten British Ruled the SC with a stick and carrot for over 300 years?

They vote in their constituencies. These are local elections, and they deal with their locally elected leaders. So the math doesn't add up totally. It's a hierarchical voting system in a sense

Yes DesiMunda, One Pakistani vote equals 10 Indian votes.

 

[Senman]

I really have never understood why some Indians were enjoying this so called boom of India when there are more people in poverty than sub Saharan Africa? This will only get worse as their population booms and the nations goes back many steps.

also lol@Qazzarfan, the irony of his claim.

I also never understand why the NRP(Non-resident Pakistanis) enjoying the life of luxury in UK rather than helping out their brothers in Pakistan by doing something. Please donate all your money for the economic benefit of Pakistan before making sweeping statements about Indians.
Regarding India's economy, our finance managers are very aware of the situation and even if we suffer setbacks it will be a learning experience, we will find our way back. Anyway thank you for your horoscope and I hope you will be forthcoming with more sarcastic comments about India.

 

[DesiMunda]

Hence unprecedented. The truth is Indian democracy is in uncharted territory.

Yes, exciting isn't it ?

No need for a test run on Pakistan, we know it works, or have you forgotten British Ruled the SC with a stick and carrot?

Yes it was a great time for us. Wonder why they tried to fight for independence those buggers.

Yes DesiMunda, One Pakistani vote equals 10 Indian votes.

Now that we've cleared that up, you can rest easy

 

[Senman]

Of course not through voting.

How else do you explain an unelected PM in office? Shing example of democracy.

Then Indians have the audacity to claim M. Singh was voted in the name of secularism?

Your worries have moved on from democratic India. Your worry now is protecting your sovereignty that is the Indian Rupee while maintaining an optimistic front to the world.

oh man last thing I want is a lecture from you on secularism and Democracy.We are not worried about sovereignty either. Rupee depreciation is a concern but then again its the same for most of the economies around the world.

Please educate yourself on how Indian Democracy works before questioning it. This is our system and we are satisfied with it
http://en.wikipedia.org/wiki/Democracy_in_India

And please since you opened the topic and put a smiley at the misery of people don't lead the debate from economy to toilet to democracy to secularism, I find it as a cheap attempt to get a foothold where you can defend your statement.

 

[Namak_Halaal]

I also never understand why the NRP(Non-resident Pakistanis) enjoying the life of luxury in UK rather than helping out their brothers in Pakistan by doing something. Please donate all your money for the economic benefit of Pakistan before making sweeping statements about Indians.

How do you know we do not? This is your best defense?

Regarding India's economy, our finance manager are very aware of the situation and even if we suffer setbacks it will be a learning experience, we will find our way back. Anyway thank you for your horoscope and I hope you will be forthcoming with more sarcastic comments about India.

Beta your government cannot even raise interest rates to protect the INR because all those in debt will most likely default and that's a huge number of people - do you not see why? Your Indian Rupee is becoming worthless by the day so much so Iran wants India to pay for oil in Gold, not the Indian Rupee.

Aware of the situation? You bet! The only periods in history when the West cared about 'india' were related to wealth. The British didn’t rule India because they fell in love with the culture, but to rinse the land of wealth. Today is the same situation. It’s foreign investment from the West that is fuelling the boom in Indian Middle Class – purely based on India’s market size – population. But if the Indian rupee continues to take a hammering, then India could end up insolvent..

 

[Namak_Halaal]

oh man last thing I want is a lecture from you on secularism and Democracy.We are not worried about sovereignty either. Rupee depreciation is a concern but then again its the same for most of the economies around the world.

Please educate yourself on how Indian Democracy works before questioning it. This is our system and we are satisfied with it
http://en.wikipedia.org/wiki/Democracy_in_India

And please since you opened the topic and put a smiley at the misery of people don't lead the debate from economy to toilet to democracy to secularism, I find it as a cheap attempt to get a foothold where you can defend your statement.

This is neither here nor there. Nothing above changes the fact India has an unelected PM in office.

 

[Namak_Halaal]

Yes, exciting isn't it ?

Well not really, I mean 60 odds years and still in the making, I think it’s getting a little boring now.

Now that we've cleared that up, you can rest easy

I am resting easy. The weaker India’s economy/currency gets, the greater Pakistan’s economy will prosper.

 

[Namak_Halaal]

One thing we will never worry about is the failure of Democracy in India. Nothing else will work.

Stick and Carrot has worked. Democracy has failed. Democracy doesn’t explain how an unelected PM can be in office. Kind of an oxymoron.

 

[Senman]

How do you know we do not? This is your best defense?

Defense? I assumed If you and NRP community donated all your money to Pakistan, it should be leading China in economy just as you assumed economic growth in India should uplift everyone at the sametime. Are you saying you and me are wrong, how preposterous?


Beta your government cannot even raise interest rates to protect the INR because all those in debt will most likely default. Your Indian Rupee is becoming worthless by the day so much so Iran wants India to pay for oil in Gold, not the Indian Rupee.

Economic professor usually countries pay in US dollar, Gold is used to dodge the US -Sanctions
Go figure whether Indian currency is the only one depreciating.

Aware of the situation? You bet! The only periods in history when the West cared about 'india' were related to wealth. The British didn’t rule India because they fell in love with the culture, but to rinse the land of wealth. Today is the same situation. It’s foreign investment from the West that is fuelling the boom in Indian Middle Class – purely based on India’s market size – population. But if the Indian rupee continues to take a hammering, then India could end up insolvent.

Thanks for the lecture but kind of shortsighted if you are unable to even think of the possibility this is already discussed among the financial managers of the country. The fact is nobody knows whats gonna happen in six months and I really appreciate the Government is doing something to strengthen the Rupee, I believe in my Government and I know what I will do if they don't fulfill the promise.

Anyway its good to know that you are an astrologer, predictor of future.

 

[DesiMunda]

Well not really, I mean 60 odds years and still in the making, I think it’s getting a little boring now.

Abhi to aur bahut saal pade hai yaar. You don't even get through 2 generations in 60 years. Thoda patience rakho

I am resting easy. The weaker India’s economy/currency gets, the greater Pakistan’s economy will prosper.

Ah, the usual pitfalls of thinking of this as a zero-sum game. Get out of the box my man.

 

[KingKhanWC]

I also never understand why the NRP(Non-resident Pakistanis) enjoying the life of luxury in UK rather than helping out their brothers in Pakistan by doing something. Please donate all your money for the economic benefit of Pakistan before making sweeping statements about Indians.
Regarding India's economy, our finance managers are very aware of the situation and even if we suffer setbacks it will be a learning experience, we will find our way back. Anyway thank you for your horoscope and I hope you will be forthcoming with more sarcastic comments about India.

I don't give a monkeys about India but when my taxes are being used, it becomes my interest. The sweeping statement which is actually a fact was written by the BBC, make a complaint if you are offended by the truth.

India has more people living in poverty than the entirety of sub-Saharan Africa

http://www.bbc.co.uk/news/magazine-12607537

I guess the Indians on here who have internet, living pretty well like to purposely live in ignorance regarding the state of the vast majority of their people.

 

[cricketjoshila]

N_H

Please compare the growth rate of Pak Economy vis a vis India in 2000s.

Indian economy at its worst is still doing better than Pak economy.

I understand you have an obsession with India and Indians,thats all good.But a Pakistani saying Indian economy is poor is like the coal calling the steel kettle black.

what is the growth rate of major economies around the world?The whole world has financial troubles today and most are in recession or conracting and India is still doing well with 5.5%.It will be long time if ever when Pakistan gets breagging rights on economy over India.Hard for you to swallow but thats the truth.

Please post the value of PKR to USD and present Growth rate of Pakistan.

 

[Senman]

Stick and Carrot has worked. Democracy has failed. Democracy doesn’t explain how an unelected PM can be in office. Kind of an oxymoron.

Dude I have posted you the link for Democracy in India, on how the system works in India. You are like my way or highway. We don't practice your version of Democracy, we are very satisfied with the system we have here. But then again its too much to ask of a person who smiles at the misery of others.

 

[cricketjoshila]

How do you know we do not? This is your best defense?




Beta your government cannot even raise interest rates to protect the INR because all those in debt will most likely default and that's a huge number of people - do you not see why? Your Indian Rupee is becoming worthless by the day so much so Iran wants India to pay for oil in Gold, not the Indian Rupee.

Aware of the situation? You bet! The only periods in history when the West cared about 'india' were related to wealth. The British didn’t rule India because they fell in love with the culture, but to rinse the land of wealth. Today is the same situation. It’s foreign investment from the West that is fuelling the boom in Indian Middle Class – purely based on India’s market size – population. But if the Indian rupee continues to take a hammering, then India could end up insolvent..

Raise Interst rates?why should they raise rates?Rates are on all time high and would be cut to boost the economy.

Iran has just started taking payments in INR.Please show a source which says that Iran has rejected taking payments in INR.That talk of gold was speculation.

Which Indian company has defaulted on loans?Can you please give a list?

So in the globalised world which country is not fueled by money from other countries?Infact a rupee around 50-55 is good for the economy as India's service industry and exports will boom.

Again,please post regarding Pakistan Economy and why would India lose its bragging rights over economy to Pakistan?

 

[Namak_Halaal]

Isn't this currency depreciation a case for all the big developing countries.

Only last week I read how Brazil's, Russia's, South Africa's currency have all depreciated big time against the US Dollar over the last 12 months

It just seems good money (investment) is flowing out of these economics due to global economic problems.

Yes currency debasement is taking place everywhere, but the reality is at the moment USD remains king, and an outflow from weaker currencies to stronger currencies such as USD/GBP, and even EUR, means USD dominated debt in India will go through the roof. All that cheap Indian credit in 2008 has ballooned into an expensive liability because the INR has been pummelled over the past few years. Indian bond yields are already high, means the Indian government has to borrow more to service more debt – put simply – Indian government is heading towards insolvency.

 

[Naraku]

weak indian economy would be the best time to launch ghazwa-e-hind! get the troops ready!

 

[cricketjoshila]

I don't give a monkeys about India but when my taxes are being used, it becomes my interest. The sweeping statement which is actually a fact was written by the BBC, make a complaint if you are offended by the truth.



http://www.bbc.co.uk/news/magazine-12607537

I guess the Indians on here who have internet, living pretty well like to purposely live in ignorance regarding the state of the vast majority of their people.

Ummm India's finance minister has given a statement in Parliament that India doesnt need any British money.The country which can give $10bn to IMF for Euro bail out hardly neeeds a billion pounds from Britain.

What is the population of sub saharan africa and what percentage of them live below Poverty line?

I wonder why Pakistanis are so worried about Indian economy or Indian poor people?Shouldnt they be worried about how their leaders and country idependent on Aid to survive.How many poor people are there in Pakistan and how many get killed everyday in unnecessary violence.

 

[Blitzkrieg27]

lol @ the couple of NRPs showing their love for India. I am not gloating when I say this, Pakistan is at the brink of being classified as a failed state. Better get your house in order first (oh wait, you lot dont live there). Maybe some of you can "dole" out some quid to save your country

btw, we still have bragging rights for what India has achieved and will go on to become regardless of the slowdown. Sanitation is getting much better (I live in India) and thanks for your concern.

 

[cricketjoshila]

Stick and Carrot has worked. Democracy has failed. Democracy doesn’t explain how an unelected PM can be in office. Kind of an oxymoron.

Democracy has failed?Where?Indian constitution allows a member of the Rajy Sabha to be a PM.Check how a member of rajya sabha is elected.Indian democracy has flourished unlike in Pakistan where sadly Army has hijacked the process everytime.

 

[waqar_ahmad]

An dwindling economy, where even fudging the numbers doesnt do anything

A currency which has no value left, after getting steamrolled on a daily basis

A country where over 60% of the factories have shut down, and moved to other countries

A country which begs other countries for money

A country where about 60% of the annual budget goes to debt servicing

A country where the most corrupt person in history, is the president

A country where idiots still find excuses to vote for tried and tested failures

A country where there is no electricity or gas

And yet, some people have the nerve to criticize India. Take a peak outside the well. The Indian economy right now, is still a million times better than the pathetic piece of crap that is pakistan's economy.

I know Indians who are planning to go back to India soon, and they know they wont have any problems finding jobs. And in pakistan, there are no jobs.

I dont care which country you hate, and which you love, but fact of the matter is that India is miles ahead of you in every field, including democracy, coz their parliamentary elections ARE ACTUALLY clean, and the govt can lose.

 

[Namak_Halaal]

Raise Interst rates?why should they raise rates?Rates are on all time high and would be cut to boost the economy.

But India cannot cut the interest rates either because it will only torpedo the INR further.

Iran has just started taking payments in INR.Please show a source which says that Iran has rejected taking payments in INR.That talk of gold was speculation.

Iran 'to accept payment in gold for oil' : http://www.bbc.co.uk/news/business-17203132

Now CJ, show me the link where Iran has just 'started' to accept payments in INR. What do you mean by just 'started'? Did the payments stop at one point? Why?

Which Indian company has defaulted on loans?Can you please give a list?

Your Doomsday is end of March 2013 – the day of the first round of Indian Bond redemptions.

Then ask me for a list. In fact we'll have a thread dedicated on companies that have defaulted in India.

Do you not see this thread is a build up to that event?

So in the globalised world which country is not fueled by money from other countries?Infact a rupee around 50-55 is good for the economy as India's service industry and exports will boom.

Which Indian exports will boom?

Again,please post regarding Pakistan Economy and why would India lose its bragging rights over economy to Pakistan?

Not talking about bragging rights over each other’s economies.

 

[Blitzkrieg27]

I don't give a monkeys about India but when my taxes are being used, it becomes my interest. The sweeping statement which is actually a fact was written by the BBC, make a complaint if you are offended by the truth.



http://www.bbc.co.uk/news/magazine-12607537

I guess the Indians on here who have internet, living pretty well like to purposely live in ignorance regarding the state of the vast majority of their people.

Another Dailymail/Sun intellectual. It is common knowledge as to why that money is being given in the first place and most of it goes to christian missionaries or private NGOs. btw, did you miss the GOIs statement that Cameron can keep the money. btw, did you do your gcse's mate? if the population is 1.2 billion, the ratio of people that are poor will obviously be more than sub sahara given that the population there is miniscule. Again, our GOI should be doing more to help the poor than blow money on the effin IMF.


Again, many thanks for your concern. Its so heartening

 

[Namak_Halaal]

The math says India is heading south - then short India! Make some money.

This is capitalism people!

Isn’t this what you signed up for? Isn’t this what you bleat about and take pride in your lives everyday?

Free this free that! Choice this choice that!

Or are we now all of a sudden moralistic when it comes to money because thy neighbour is involved?

 

[Namak_Halaal]

N_H

Please compare the growth rate of Pak Economy vis a vis India in 2000s.

Indian economy at its worst is still doing better than Pak economy.

I understand you have an obsession with India and Indians,thats all good.But a Pakistani saying Indian economy is poor is like the coal calling the steel kettle black.

what is the growth rate of major economies around the world?The whole world has financial troubles today and most are in recession or conracting and India is still doing well with 5.5%.It will be long time if ever when Pakistan gets breagging rights on economy over India.Hard for you to swallow but thats the truth.

Please post the value of PKR to USD and present Growth rate of Pakistan.

If India's economy was doing better than Pakistan's economy then please explain why KSE was one of the best perfoming markets in Asia in the 00s?

 

[akheR]

An dwindling economy, where even fudging the numbers doesnt do anything

)
Remember the formidable article written by Andleeb Abbas with its epic quote as introduction:

Statistics can be a legal way of lying. A statement backed by figures, no matter how fictitious, has more weight than sweeping phraseology. This seems to be the thought process of those working with government on the numbers business. With so much fake work going on in every sphere of politics, expecting the finance department to be any different is really asking for the moon. As the budget season approaches, the task of figure fudging is at its peak. Starting with the macros to the micros, each figure is going to be spun and spanked into submission. The big number is the GDP growth rate and the fight to make it bigger than it actually is. The government wants it to be ‘four percent’ but the preliminary work shows that it is around 3.2 percent That does not please Hafeez Sheikh since it does not please the man he wishes to please, i.e. the president. So what do you do? You rework and you recalculate and you change the base years to compare them with a pre-2000 base year rather than post that year, and you manage to get a figure that shows a healthy growth rate that the minister can boast about in his budget speech.

http://www.dailytimes.com.pk/default.asp?page=2012\05\13\story_13-5-2012_pg3_5

 

[Blitzkrieg27]

If India's economy was doing better than Pakistan's economy then please explain why KSE was one of the best perfoming markets in Asia in the 00s?

In what parameters may I ask? I thought you do your research well for your daily India bashing orgasm. Since, when did a stock market become the yardstick to measure an economy's performance. By this logic, the BSE went bonkers at the height of the boom and was outperforming most if not all western markets.

 

[Senman]

I don't give a monkeys about India but when my taxes are being used, it becomes my interest. The sweeping statement which is actually a fact was written by the BBC, make a complaint if you are offended by the truth.

If you are concerned about your tax money complain it to your elected representative not India, we didn't ask for it.


http://www.bbc.co.uk/news/magazine-12607537

I guess the Indians on here who have internet, living pretty well like to purposely live in ignorance regarding the state of the vast majority of their people. The same as you who live in luxury leaving your Pakistani brothers in poverty, please donate all your money and become equal.

Seriously India has poverty and we are working on it, we (those who have internet) pay our taxes and hope our Government finds a perfect formula to uplift the poor. You who don't give monkeys about India seems like don't give monkey's about Pakistan either, do whatever you expect of Indians (todo to our poor people) do that to your brothers in pakistan. Get off your high-horse you are as selfish as me and others, preach what you practice.