Tell me who is under recession. In a population of over 115 crores, only 17-18% of total Indians are talking about recession, as per world's dictum. We have forgotten that over 80% of Indians are under recession from the time India got liberated. These GDP growth, etc. are only gimmicks, played very carefully by our policy planners and economists who frames policies in an air-conditioned environment.
By
S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner
| 05 05 2010 16:17:13 +0000
very true durgarao, I definitely feel that we are now in a stage of recession as exports are badly hit which are down by 15%. This in turn will hit manufacturing sector, raw material and capital goods imports, and Custom duty collections will also decline. Jobs are getting affected, and so will government revenues. This will impact entire social sector spending. Indian economic crisis is also aggravated by the fact that recession is accompanied by double-digit inflation. In fact, the Indian economy is moving towards a situation of stagflation. Money flow is less and prices are going up. So, the common man gets hit both ways.......
By
Santosh Bhosle, Associate, IFCI
| 12 04 2008 09:19:41 +0000
Varun, I really appreciate your reliance on our government. They will keep on reducing CRR by one percent every day and finally end up with no money in the Govt. Anyhow, it's not their personal money. For all the wrongs of financial policies like waiving of farmers loans for vote bank - our government has driven us to the present situation and it is more or less worst than USA present crisis.The banks were delcared bankruptcy in USA as the loanee cannot pay . Here we are still magnanimous and said to the farmers Please don't Pay !!! - A beautiful policy for vote banks. A person who was able to pay his loan is also very happy now !! Our govt will continue to give such vote-bank policies so that one day India becomes a land of beggers!!!
By
Gandhi Rajan, Sr. Associate, ICICI Securities
| 11 25 2008 12:57:07 +0000
Currently, growth in both investment and consumption is depressed & I feel Government has to really act now and not allow the economy to float on its own. What measures they have taken have not produced desirable results.
By
Gandhi Rajan, Sr. Associate, ICICI Securities
| 11 25 2008 12:28:04 +0000
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India is not towards recession now. It is far better than other countries suffering from the same.
By
Somnath , HR Executive, HCI Solutions Private Limited
| 11 26 2009 16:30:54 +0000
No !
By
vishal kumar, TERRITORY MANAGER CHANNEL SALES, DHANUS TECHNOLOGIES LIMITED
| 09 02 2009 12:57:51 +0000
India is in a recovery stage rather. Steps taken by The UPA government were phenomenal. First it made necessary changes in fiscal policy and increase government spending to boost consumption. The changes in moneytary policy changes done by RBI were good enough to curb down inflation substantially. Still our growth rate is 6.7%. The government ensured that there is maximum liquidity in the market to cushion the down trend
By
Alok Routray, PGPM 2010 Batch
| 06 29 2009 12:05:50 +0000
Well, i don't think so, our country was in a much better position than the rest of the world.As we can see, NRIs were returning back to work here and now also the UPA government is bringing back the market into normal postion. So I don't think we are much affected by recession....
By
Niranjan Meena, Actuary Manager, LIC
| 06 24 2009 13:49:08 +0000
Mr Gandhi, govt policies are not only for vote banks, if we look other side, then we realize that the decission taken by govt is right. here we are on positive side that at least 40% people get loan waiver benefit. what ever motive behind loan waiver decission, if we never understand the equal growth of society, we never go close to stable economy...also stable govt.....also stable society.. india is facing Recession problem, but the intensity of recession is not that level ......... still our indian company doing good growth, there profit ratio also increases our economy fundamentaly is going to stable in short period, compaire to other developed countries....
By
AJay Khot, Banc Assurance, Star Union Dai-Ichi Life Ins Co Ltd
| 06 23 2009 10:16:37 +0000
Hi.., India is not in Recession....In India there are slowdown. Recession in which any country or nations GDP growth will be in negative..But in india the growth rate is Positive it is around to be @7%. So we cant say india is in Recession.Its in Slowdown.
By
Apurv Gourav, Process Specialist, Maersk Global service Centre , Pune
| 06 04 2009 14:59:31 +0000
Mr. kishore kumar i definitely agree with you. Our economic policies are so intact that where others developed nations are facing the heat in almost every sector, our country has somewhat tackle this downturn quite well. it can also be seen from the fact that our growth rate is still quite acceptable if we compared to other countries and also we have been able to hold on to our jobs comparatively well when compared to people of other countries.
so i don't think so recession has affected our country much because of our vast economy and well in placed economic policies.
any other views from you guys are most welcomed!
By
Sudeep Tarafdar, Senior Consultant, IBM
| 04 03 2009 05:51:58 +0000
See this period is nothing but a mirage like appearance where no body notices the real image rather they notice a Mirage which is non existant at that place. As similar as the view at time of mirage formation,this is the time people are more panicked because of economic image portraid by the media and the bad planner /investors. whoever has lost in economic slowdown they are circumspect about further investment but fact of the matter is that this is right time to invest in market. India is such a well established country in the world that even America suffered loss in many sector e.g insurance but in India this sector has not suffered that much loss on account of clear and hassle free policy of govt. in these sector.And it happens due to presence of TRIO( manmohan singh, montek singh, chidambaram). This global recession is such large in volume that not a single country is untouched in the world so some tremor might be felt in corporate sector but it is for short period despite the fact that it will continue in developed country. Here economic policy is as such we can handle it very calmly and carefully. This is not the first time, we are facing and propagating our economic stride but at the time of nuclear test in 1998 too same thing happened for Indians. All the developed country imposed ban on various products but we stood over that ban. So my message is that we should refrain ourself in propagating rumour of recession in india and enthusis e our industry man to nurture the hope of Great India.
By
kishore kumar jha, Accounts Executive/Accountant, pcda (R&D)
| 01 28 2009 17:39:30 +0000
Mr Gandhi, No prudent banker would support the farm loan waiver. Our politics has few wrong approaches : Farmer as a vote bank; muslim as a vote bank; hindu as a vote bank Ahinda as vote bank and workmen as vote banks. A positive change occuring now is that youth are considered vote bank too. Except youth, all the above should cease to be vote banks. But i would not agree that India is doomed to go down. You were right to initiate this debate but have hope. I would say that India may suffer few problems for the next say.. eight months. Then we are on our way up. The government has provided platforms for us to raise. The difficulty is in our placing a step on this platform to rise. Many are preventing us from doing so. We should unit and stop those from preventing us. We should place our step on the platform and rise. We can only go up after that
By
SR Sham Sunder, CEO/MD/Director Technoaid
| 01 15 2009 04:50:58 +0000
Attorneys like my learned friend durgarao vanayam are comfortable with point-to-point treatement of their statements. This is not rejection of the statement but qualification of it: Our strength of degree holders ... I agree. But we also have a good lot of good engineers, doctors, researchers and skilled personnel. Our own domestic market is our strength. Money flow tend to get affected as the many developed countries are into recession.... I fully agree. Why should we now depend on exports? Balance of payments position will not go negative, given the fact that other countries have very few export opportunities in their current situations except for few items!! Our reserves may come down but will not go negative. When we look at the brighter side, Indian economy is bound to attract foreign investment. There is no other place for these investors to go! In my view, it is prudent to concentrate on development of India. It is an opportunity to up our standard of living at comparatively low cost. There is no much encouragement for the enterpreneurship ... I agree. Take for instance Sathyam... Why should we bail this company out? We should concentrate on smaller units. If I was heading City Bank Group and if Sathyam was handling some of my outsourcing assignments, I would first see how many of Sathyam employees are working on my projects. I would get their profile analysed. I would identify leaders amongst them. I would not now be able to fund them but would give them an opportunity to start on their own!! Of course at a lesser cost to me. If I look at that small group's situation, their ovetrheads will be comparatively lower. The revenue from my assignment is sufficient to run their show. IT infrastructure is not heard to provide. There will be no clash of ethics too. If necessary, Sathyam can be paid a sum of money for any IP involvement, which they would welcome in the present circumstances. Banks and Government can fund them rather than funding fraudsters. It is therefore win-win for everyone!! As we are not fundamentally strong ...This statement, I disagree with. We are fundamentally strong under present circumstances. Cooperative agriculture is one area we should take up which will actually be mechanized agriculture. So neither there will be creation of jobs nor loss of jobs in agricultural sector if reforms are initiated. The bane of agriculture in India is that it is almost unviable due to defaults in scalability and reluctance to use modern technologies!! We should find better employment opportunities for our villagers. The fact is also that there are not many people employable in villages. They have all migrated to urban centres. I think, we can't escape from recession... All of you, please look at the scenario that the world will look to India as its leader. The world will think of making investments in India since it is only here that they can have a reasonable estimate of fair return on investment. Elsewhere in the world there is no money to buy GAS (Goods and Services). Our corrupt society has an equal measure of poor and rich people. This is the carrot. Poor people need consumbable and rich people can still indulge.
By
SR Sham Sunder, CEO/MD/Director Technoaid
| 01 15 2009 04:40:39 +0000
Mr. Gandhi any govt will do that whether it is BJP or congress rather my point was talking on the required measures taken by them. In addition why India will not head towards recession is because of strong domestic demand and by protecting domestic industries. Talking about CRR, if the situation warranted, RBI would not hesitate to either infuse or withdraw liquidity from the system. The reduction has been done such that banks can focus on
credit quality and ensure flow to productive and vulnerable sectors.
By
Varun Sood, Associate, JP MorganChase
| 11 26 2008 07:44:17 +0000
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