Active TopicsActive Topics  Display List of Forum MembersMemberlist  CalendarCalendar  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin

Indian Economy - Powering Ahead!
 The Equity Desk Forum :Economy, Markets and commodities :Indian Economy - Powering Ahead!
Message Icon Topic: The FM walks away from Raghav questions! Post Reply Post New Topic
Page  of 3 Next >>
Author Message
patnitin
Groupie
Groupie
Avatar

Joined: 05/Sep/2006
Location: India
Online Status: Offline
Posts: 74
Quote patnitin Replybullet Topic: The FM walks away from Raghav questions!
    Posted: 01/Mar/2008 at 9:49pm
I agree that it doesnot make economic sense to take such a decision,but it definitely make political sense.
 
But the farmers issue is really of serious concern.How can one digest that the country is growing at a great speed,and its one section of population commits suicide.
Its fashionable for the upper class to blame the farmers that they don't pay income tax etc..We also need to understand their problems.A farmer cannot determine the price of his commodity,the government fixes it without considering the cost of production,In cases where prices rises and farmers start to benefit a little ,the govt imports the commodity to stablise the rates.They don't have electricity for most part of the day,(in my village there is power only for 3 hours for the pump sets).The govt even bans export if the domestic prices start increasing.This way the farmer never ever benefits from his produce to the fullest extent.
I know of  micro finance schemes where the repayment by the rural women is far far better than the urban,elite class.
 
Probably a better alternative than the waiver of the loans should have been thought of so that a farmer never again falls into a debt trap.
 
And further why blame the poor farmer alone when hundreds of industrialist collect money from investors and runaway,default on bank loans,default on electricity bills?
 
I'm sorry if my views hurt any one,but I thought we should also see a different perspective.
 
Nitin
 
 
 
 
IP IP Logged
basant
Admin Group
Admin Group
Avatar

Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
Quote basant Replybullet Posted: 01/Mar/2008 at 9:53pm
Originally posted by manishdave

No wonder Amitabh was trying to be a farmer. Everybody should.
 
It is TOTALY wrong. All political parties do gimmicks before election, but this one is too COSTLY not just in terms of money. You are building expectation where ppl think free money is their birth right. To help the farmers, they could have spent those money into irrigation, education to farmer, the could have done land reforms etc. A really poor farmer would not even dare to walk into a bank.
Our govts are trying to control who gets what size of slice of pizza instead of increasing size of pizza.
 
It is wrong to assume that all loans are NPA. Another point is if co-op are doing loans that is 100% NPA, they don't deserve to stay in business. So this action will keep wrong ppl in business.
 
What was purpose of this action other than an election?
 
1. There was no such demand.
2. Monsoon was good.
3. Farm produce prices are soaring.
 
Are we turning clocks back?
 
Mostly replies that have so much passion have little reason but this one was unique in the sense that it hammered the reasons with some real passion. I saw the live interview where our so called educated FM got so agitated with raghav that he walked out of the camera and the bugger was not ashamed in doing so. He had no answers to this question and it is utterly disgracefull that except Network 18 none of the other channels had the guts to call a spade a spade!!!


Edited by basant - 01/Mar/2008 at 10:39pm
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
IP IP Logged
mr.amd
Groupie
Groupie
Avatar

Joined: 06/Feb/2008
Online Status: Offline
Posts: 59
Quote mr.amd Replybullet Posted: 01/Mar/2008 at 10:16pm

See P chidambaram here.   He actually left the interview rather then answer the question.  What tricks is he playing with public sector banks.

http://www.josh18.com/showvideo.php?id=150261

I posted this originally in budget thread but this is probably a better place for it.  Can any one shed any light on this, why Chidambaram is being so secretive.
IP IP Logged
patnitin
Groupie
Groupie
Avatar

Joined: 05/Sep/2006
Location: India
Online Status: Offline
Posts: 74
Quote patnitin Replybullet Posted: 01/Mar/2008 at 10:27pm
I think he is one of the educated ,sophisticated ARROGANT, Hon. Minister.
 
He never answers difficult questions and thinks that only he knows every thing and always demeans others.I have rarely seen any of his interviews where he respects others views.
 
Only bad thing is that I am on his side on this decision.
 
 
Nitin P


Edited by patnitin - 01/Mar/2008 at 10:28pm
IP IP Logged
patnitin
Groupie
Groupie
Avatar

Joined: 05/Sep/2006
Location: India
Online Status: Offline
Posts: 74
Quote patnitin Replybullet Posted: 01/Mar/2008 at 10:47pm

That probably means that he doesn't have any answers now!

and probably this decision was made under haste at last minute. (orders from Maam!) and he didnot have time to prepare for the examinations(questioning).

Though we criticise Sharad Pawar ,I think he would have articulated the governments point of view in a far far better way.

In any case Hon. FM doesn't inspire me,I am a diehard Vajpayee fan and a neutral person after his retirement.

 

IP IP Logged
manishdave
Senior Member
Senior Member


Joined: 05/Aug/2006
Location: India
Online Status: Offline
Posts: 1371
Quote manishdave Replybullet Posted: 01/Mar/2008 at 11:27pm
But the farmers issue is really of serious concern.How can one digest that the country is growing at a great speed,and its one section of population commits suicide.
 
Schemes like this is NOT going to solve their problems. In many parts farmers are making good money. They will get waiver also. Instead, they should have done irrigation/drip irrigation subsidy/reaserch on better seed etc. That could have done far reaching PERMANENT change. Most suisides are due to private money lenders. If they didn't/couldn't get loan from bank then, how would they get loan after this scheme?
 
in my village there is power only for 3 hours for the pump sets
 
Blame free/fixed rate power for that. It was introduced to be farmer friendly. SEBs incured huge losses so they stopped giving connection and offering limited power, low voltage. Many farmers are even willing to pay mkt price to get enough power/connection but don't get. Free power has also done permanent damge to water tables.
 
 
Suiside or any kind of premature death is heart breaking. But reaction is damaging society, it is even more heart breaking. There are suisides by some students after exam. Should we all give them distictions like Mulayam did? Think of the consequences.
 
The govt even bans export if the domestic prices start increasing.This way the farmer never ever benefits from his produce to the fullest extent.
That's the point. It is not govt's business to interfere. Let mkt decide their levels.
 
This is nothing but POLITICAL STUNT. Otherwise, why same scheme was not declared when suiside rate was higher? Becasuse that was not year before election.
IP IP Logged
tuxlearner
Newbie
Newbie


Joined: 18/Jan/2008
Online Status: Offline
Posts: 10
Quote tuxlearner Replybullet Posted: 01/Mar/2008 at 12:56pm
does anyone have the link to the video where he walks out ? the link posted earlier doesnt load anything but an ad :(
IP IP Logged
manishdave
Senior Member
Senior Member


Joined: 05/Aug/2006
Location: India
Online Status: Offline
Posts: 1371
Quote manishdave Replybullet Posted: 01/Mar/2008 at 2:17am
I read PC's internview and it looks even more ridiculous than before.
 
How will you account for the Rs 60,000 crore loan waiver?
 
I don't have to account for it right now. This money was out of the banking system and they would have recovered some part of it over a few years. Now, our job is to provide banks a level of liquidity to deal with the amount they will not get. The details will be announced when they are ready.
 
He says that money was out of banking system!!! If so, money is also out when somebody takes home loan, car loan, student loan, business loan!!! And yes, banks would have recovered some part of over  a few years.
 
He says crops are at record. If that needs 60k cr waiver, how much would be needed if there is not so good a year. You make banks to hand out loans and then say money is already out? Is that what they teach at Howard?
 
Co-ops are weak any way and can't(shouldn't) take loss and ultimately govt will have to take tab but CM won't take on his book either. What kind of accounting is this? Jim Rogers says it correctly. If we keep books govt. way, we would be in Jail.
 
IMO businessmen/investors are not talking on record but mkt won't take this lightly.
If mkt crahsed on Monday blame that on PC and our sub-prime(minister).
 
Bravo to Mr. Bahl.


Edited by manishdave - 01/Mar/2008 at 3:04am
IP IP Logged
Page  of 3 Next >>
Post Reply Post New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum



This page was generated in 0.125 seconds.
Bookmark this Page