Tagged: Budget

Strong fundamentals of Indian Economy


Please see the total debt , interest and principal payments by the Government of India . Still do you think that we can pull this country out of the mess under the UPA ? We need radical changes

As per data made available by the Ministry of Finance on debt vide RTI dated 13th May 2013 letter dated AAAD/COORD/ L(1)2012;  AS ON 31/12/2012

Government Loans :

Total multilateral debt is INR 2,401,829,740,367

Total bilateral debt is INR 1,046,418,091,740

Total Government loans ( multi-lateral and bilateral ) is INR 3,448,247,832,107

Non – Government loans

Multi-lateral INR 302,495,682,321

Bilateral INR 190,240,677,456

Total Non-governmental Multilateral & Bilateral loans  – INR 492,736,359, 778

Grand total ( Government & Non-Government ) 3,940,984,191,885

Total yearly payments of interests & principal

2011-12                                     2012-13 ( 01.04.12 – 31.12.2012)   Figures in 1000 INR

Interest                 2425686378                                 2028398390

Principal               34823428250                               24641868095

 

 

 

Economy to grow 6 % ? Are we fooling ourselves !


Car sales in India slumped 25.7 percent in February, the biggest fall in more than 12 years and the fourth consecutive monthly slide, an industry body said on Monday, as sluggish economic growth continues to weigh on demand.

The industry is expected to see it first decline in annual sales in a decade as high interest rates and rising fuel costs in Asia’s third-largest economy put off buyers in a market that was once one of the world’s most promising.

Automakers sold 158,513 cars in India last month, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Car sales are down 4.6 percent for the first 11 months of the fiscal year ending in March, it said.

“There is no improvement in the market sentiment. People have more or less stopped discretionary purchases,” Sugato Sen, deputy director general of SIAM told Reuters.

“This has really impacted the bottom of the pyramid, people who buy the smaller cars,” he said, referring to the slowing economy that is expected to grow 5 percent, a decade low. “That is getting reflected in the numbers.”

http://in.reuters.com/article/2013/03/11/india-autos-cars-idINDEE92A04R20130311

Our Finance Minister is now doing road shows in Hong Kong, Japan etc to attract investors ….. If the Finance Minister of India has to take to road shows, Indian economy is entering a ‘No show’ time ……

This is what i have been writing for the past one year ……..Wake up call for our ‘Learned Handicapped’ Politicians, who are disconnected from the ground realities

Rajendra Pratap Gupta

http://www.commonmansblog.com

Auction of Spectrum fails


Auction of Spectrum fails

The attempt of the UPA Government to raise Rs. 40,000 cr via spectrum auction failed  . I had written in detail in October 2012 about the same …… The UPA’s failure is becoming so predictable now ………even for a layman like me !

Read in the link pasted above how the Government has killed the Telecom sector 

Financially, India is nearing a melt down


Indian rupee has depreciated more than 20 % against the dollar and nearly 50 % against the Chinese renminbi. Household savings , as a percentage of GDP , have plummeted to a 21 year low……..IIP numbers ,automobile sales & agriculture production are telling the sad story of how upper , middle and lower class are getting into this negative spiral 

Worse could happen , if Pakistan or China ups the military action seeing the financial problems of India ?

Rajendra Pratap Gupta

http://www.commonmansblog.com

Shoot first ( without an aim ) ……principle of the Government


Centre for Participatory Democracy

With the UID scheme involving a Rs 5,000 crore rollout in the initial stage, now, it was felt the proposal be subjected to a more detailed examination by a GoM ! Can you imagine how the public money is being spent without having clarity ?  This is not just a blatant loot of the public money , but a plunder more brutal than what Mughals did !  On one side , we have 300 million starving , one the other side , this Government is throwing away the money on its whims and fancies in the name of a common man ?

The Cabinet discussion on Thursday ( 31st January 2013) revealed that , the ministerial panel was not immune from contradictory and blurred perceptions about Aadhaar, as UID is known, with some ministers saying they had received a card along with a number.

Confusion over whether the unique identity number is a number, a card or both, and concerns over UID and the National Population Register duplicating functions prompted the Cabinet to refer UPA-2’s ambitious project to a group of ministers.

Differences persisted as concern was also expressed over duplication or overlap between the National Population Register (NPR) and the UID. Both processes involve a similar collection of biometric data including iris scans.

And this is being done after spending thousands of crores of the hard-earned money, when we have a dangerous levels of external debt and fiscal deficit ?   Why have we not converted NPR into UID ?

This Government follows the principle ‘Shoot without a target’ in the name of the common man.

Most of the Government schemes have been executed with no end in sight and this is what is faulty with the Government .

Time to question this Government

Rajendra Pratap Gupta

http://www.commonmansblog.com