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Economy
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The final message was on the harm done by excessive speculation, by enterprise becoming “a bubble on the whirlpool of speculation.” Many in the audience would have admired the eloquence of Lord Keynes but it is not clear how many G-20 leaders — who will presumably be joined by Mr. Obama when they meet in London around April 30, 2009 — are willing to go as far as this saviour of capitalism proposed at a time of unprecedented crisis in another age.
...
In reply to:
Keynesian warning is one of seven ‘big messages’: Manmohan
Posted by :
sambala
Keynesian warning is one of seven ‘big messages’: Manmohan
N. Ram
On board Air India One: The “seven big messages” that Prime Minister Manmohan Singh saw emerging from the Washington Summit on Financial Markets and the World Economy include a celebrated Keynesian formulation that is surely unpalatable to the event’s orchestrator and host, President George W. Bush.
This is a message relating, in Dr. Singh’s words, to “the harm that excessive speculation can do.” In this connection, he appears to have surprised his G-20 audience by quoting from John Maynard Keynes’s great 1936 classic, The General Theory of Employment, Interest, and Money: “Speculators are harmless as bubbles on a steady stream of enterprise. But the position is serious if enterprise becomes a bubble on the whirlpool of speculation. When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill-done.”
Mr. Bush, on the other hand, continues to celebrate the unfettered free market and opposes any move towards regulatory stringency advocated by the likes of France’s Nicolas Sarkozy. The concept of a Keynesian stimulus is anathema to Mr. Bush’s far-right ideology. “Those of you who have followed my career,” he said summing up the outcome in typical Bush-speak, “know that I’m a free market person — until you’re told that if you don’t take decisive measures, then it’s conceivable that our country could go into a depression greater than the Great Depression’s.”
Mr. Bush claimed, against the evidence, that the United States had taken “some extraordinary measures” in response to the crisis of the financial system and further that “the significant actions we’ve taken are beginning to work.” This is certainly not the reading of tens of millions of Americans who feel that this administration is only for the fat cats. Their vote for change was propelled, in large measure, by the deep unpopularity of the Bush administration, especially on economic issues. Nor is it the reading of Congressional Democrats who have abandoned hope that the present lame-duck session of Congress, with Mr. Bush in his last two months at the White House, will achieve anything worthwhile. They have decided to defer the initiation of any major fiscal stimulus plans until after Barack Obama is inaugurated as President.
In his intervention on Saturday at the Washington Summit on Financial Markets and the World Economy, Prime Minister Manmohan Singh offered his fellow summiteers an economist’s analysis of how “the financial crisis has exploded into a systemic crisis affecting the whole world” and demonstrated that “we are in a globally integrated world and globally coordinated action is essential.”
Developing countries were in a peculiar situation: they were, asserted Dr. Singh, “not the cause of this crisis, but they are amongst the worst affected.” He warned that the contraction of exports, a credit crunch, and lower flows of capital and foreign direct investment would “slow down their economic growth … [and] push millions of people back into poverty, with adverse effects on nutrition, health, and education levels.” Further, they would “reduce growth impulses in the world economy.” Bring the present crisis “under control as quickly as possible” had to be the immediate priority.
Of the “seven big messages” that Dr. Singh saw emerging from the Washington summit, the first was the recognition by all the G-20 leaders that “this is a global crisis and therefore calls for a global response.” Secondly, “the continuing weakness of the real economy suggests that the steps we have taken to increase liquidity must be supplemented by a coordinated fiscal stimulus.” The third message was the need to take special steps to provide resources to developing countries; towards this end, the World Bank and the International Monetary Fund must be provided with adequate additional resources to fulfill their new responsibilities.
The fourth message highlighted by Dr. Singh is hardly radical: the need to introduce regulatory reforms in the financial system “improving existing standards and aligning them internationally.” The fifth message was that “we need much better multilateral surveillance of both macro economic and financial developments.”
In this connection, Dr. Singh welcomed the signal in the communiqué to expand the Switzerland-based Financial Stability Forum (FSF). He also wanted the G-20 leaders to work for “a reform of the global financial architecture, which must include a strengthened IMF and one which is more broadly reflective of changing economic realities.”
Dr. Singh identified the sixth message emerging from the summit as the imperative of avoiding “a retreat into protectionism.” Towards this end the WTO’s Doha Development Agenda needed to be brought to an early conclusion “achieving a balanced outcome.”
CONT..... 
Tracked by: 0 Boarder
Keynesian warning is one of seven ‘big messages’: Manmohan
N. Ram
On board Air India One: The “seven big messages” that Prime Minister Manmohan Singh saw emerging from the Washington Summit on Financial Markets and the World Economy include a celebrated Keynesian formulation that is surely unpalatable to the event’s orchestrator and host, President George W. Bush.
This is a message relating, in Dr. Singh’s words, to “the harm that excessive speculation can do.” In this connection, he appears to have surprised his G-20 audience by quoting from John Maynard Keynes’s great 1936 classic, The General Theory of Employment, Interest, and Money: “Speculators are harmless as bubbles on a steady stream of enterprise. But the position is serious if enterprise becomes a bubble on the whirlpool of speculation. When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill-done.”
Mr. Bush, on the other hand, continues to celebrate the unfettered free market and opposes any move towards regulatory stringency advocated by the likes of France’s Nicolas Sarkozy. The concept of a Keynesian stimulus is anathema to Mr. Bush’s far-right ideology. “Those of you who have followed my career,” he said summing up the outcome in typical Bush-speak, “know that I’m a free market person — until you’re told that if you don’t take decisive measures, then it’s conceivable that our country could go into a depression greater than the Great Depression’s.”
Mr. Bush claimed, against the evidence, that the United States had taken “some extraordinary measures” in response to the crisis of the financial system and further that “the significant actions we’ve taken are beginning to work.” This is certainly not the reading of tens of millions of Americans who feel that this administration is only for the fat cats. Their vote for change was propelled, in large measure, by the deep unpopularity of the Bush administration, especially on economic issues. Nor is it the reading of Congressional Democrats who have abandoned hope that the present lame-duck session of Congress, with Mr. Bush in his last two months at the White House, will achieve anything worthwhile. They have decided to defer the initiation of any major fiscal stimulus plans until after Barack Obama is inaugurated as President.
In his intervention on Saturday at the Washington Summit on Financial Markets and the World Economy, Prime Minister Manmohan Singh offered his fellow summiteers an economist’s analysis of how “the financial crisis has exploded into a systemic crisis affecting the whole world” and demonstrated that “we are in a globally integrated world and globally coordinated action is essential.”
Developing countries were in a peculiar situation: they were, asserted Dr. Singh, “not the cause of this crisis, but they are amongst the worst affected.” He warned that the contraction of exports, a credit crunch, and lower flows of capital and foreign direct investment would “slow down their economic growth … [and] push millions of people back into poverty, with adverse effects on nutrition, health, and education levels.” Further, they would “reduce growth impulses in the world economy.” Bring the present crisis “under control as quickly as possible” had to be the immediate priority.
Of the “seven big messages” that Dr. Singh saw emerging from the Washington summit, the first was the recognition by all the G-20 leaders that “this is a global crisis and therefore calls for a global response.” Secondly, “the continuing weakness of the real economy suggests that the steps we have taken to increase liquidity must be supplemented by a coordinated fiscal stimulus.” The third message was the need to take special steps to provide resources to developing countries; towards this end, the World Bank and the International Monetary Fund must be provided with adequate additional resources to fulfill their new responsibilities.
The fourth message highlighted by Dr. Singh is hardly radical: the need to introduce regulatory reforms in the financial system “improving existing standards and aligning them internationally.” The fifth message was that “we need much better multilateral surveillance of both macro economic and financial developments.”
In this connection, Dr. Singh welcomed the signal in the communiqué to expand the Switzerland-based Financial Stability Forum (FSF). He also wanted the G-20 leaders to work for “a reform of the global financial architecture, which must include a strengthened IMF and one which is more broadly reflective of changing economic realities.”
Dr. Singh identified the sixth message emerging from the summit as the imperative of avoiding “a retreat into protectionism.” Towards this end the WTO’s Doha Development Agenda needed to be brought to an early conclusion “achieving a balanced outcome.”
CONT........
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Captains of India Inc worried about global recession, but say can withstand
NEW DELHI: With the signs of global reversionary trends setting in, Indian Inc say that while they are worried about the global meltdown, they are also confident that the Indian industry can sail through.
According to reports the Indian economy is likely to expand by 7.4-7.8 per cent during 2008-09 fiscal year, slower than nine per cent of last year, as credit crunch and global downturn trims growth.
At a three-day `Indian Economic Summit` organised by the Geneva-based World Economic Forum in collaboration with Confederation of Indian Industry (CII) in New Delhi, captains of the Indian industry huddled to debate out issues related to the global downturn on Sunday.
Nandan Nilekani, Co-Chairman of Infosys, a top Indian multinational software company and member of the Foundation Board of the World Economic Forum said the global recessionary trends are unprecedented but IT industry is resilient enough to deal with the challenges.
"There is a global scenario which is unprecedented and it will have its impact on everybody but I think the IT industry has demonstrated time and again that it is resilient enough to deal with these challenges. We had a similar situation, though not as profound in 2001 but we were able to get, not only get out of that but take advantage of that. So, I am sure that the companies are following right strategies to wait for the thing to subside and then take advantage of the next cycle of growth," said Nilekani.
Adi Godrej, Chairman and managing director of India`s Godrej Group, one of the country`s most remarkable industrial corporations said that these trends will pressurise the economies of the world more and the governments have to speed up reforms and boost investment to sustain high growth.
"I think clearly the global crisis is affecting India perhaps a little more than most people perhaps a little more than most people thought but I think we have the means to fight it strongly. I think the government should take very quick action, they have already taken some action but I think liquidity must be improved, CRR, SLR must be cut further," said Godrej.
A sharp outflow of capital, and a fall in share and asset prices due to the global financial crisis has also become a cause of worry for the industrialists.
Rahul Bajaj, Chairman Bajaj Auto and Member of Parliament said that though the exports of the auto industry have been badly hit, the concern is more about the domestic demand.
"Global slowdown will affect mainly exports nothing else. Till now the growth till September (of our company) is 30 per cent in dollar terms. But I fear I now see some signs of problem in domestic market. We also have to see how international demand will affect domestic demand, this is a matter of demand but our sales, the sales of the entire auto industry is down," said Bajaj.
The India Economic Summit began on a note amid growing fears of recessionary trends. Nearly 700 participants from over 30 countries are participating at the Summit.
Indian policymakers expect a moderation in economic growth to less than eight per cent in the year to March 2009.
Earlier this month, Prime Minister Dr. Manmohan Singh cautioned that global financial crisis could be more severe and prolonged, and the government would take all necessary steps -- monetary and fiscal -- to protect growth.
World leaders at the G-20 summit in Washington backed a combination of measures to kick-start growth with better financial market regulation and more say for emerging countries as their response to the global economic crisis.
Signs are mounting of a painful economic slump in many regions, with the euro zone slipping into recession according to data last week, unemployment climbing in the United States and elsewhere and emerging economies slowing.
...
In reply to:
Will this indian slowdown lead to recesion?!
Posted by : sambala
India`s jute industry feels pinch of recession
Kolkata (IANS): India`s jute industry, which bags large orders from the Middle East and Europe, is likely to take a big hit from the ongoing global recession, and a strike in West Bengal next month will worsen the situation, say experts.
Up to 30 percent of the export order may be cancelled due to the global economic meltdown, says Indian Jute Mills Association (IJMA) chairman Sanjay Kajaria.
"A lot of export orders are getting delayed. If this continues this will lead to job losses. Recently, a big order from Turkey for carpets got cancelled," Kajaria told IANS.
A similar concern was echoed by Binod Kispotta, jute commissioner, when he said: "If the demand for commodities that are packed in jute bags falls worldwide, it is evident that the demand for jute bag exports will also fall."
Indian jute and jute products are popular in countries like Turkey, Syria and Saudi Arabia and also in European nations like Germany.
The amount of jute exported during the last fiscal (2007-08) was 250,000 tonnes and raked in Rs.8 billion. In the current fiscal, the total export will be around 200,000 tonnes but the revenue earned from export will remain the same as the rupee has depreciated.
Jute is a natural fibre and is grown in extensive parts of West Bengal, Bihar, Assam, Orissa and Uttar Pradesh in India.
The industry also fears a loss of Rs.10 billion from the imminent jute workers` strike in West Bengal from Dec 1 at 59 jute mills covering about 250,000 workers.
According to industry estimates, Rs.5 billion may be lost because of no offtake of bags by the sugar industry due to the strike. An equivalent sum will be lost as other agri-commodities like food grains, oilseeds, guars and lentils will also have to make do without jute bags.
"The workers will go on strike due to non-payment of dearness allowance (DA) by mill owners since April 2007," Kajaria said.
"There are dues of Rs.20,000 DA per labourer. The labourers are not getting provident fund, gratuity after retirement," Congress leader and veteran trade unionist Subrata Mukherjee told IANS.
The Indian National Trade Union Congress, the trade union wing of the Congress, is an active participant in the strike. However, the Centre of Indian Trade Unions (CITU)-affiliated Bengal Chatkal Majdoor Union has decided not to participate in the indefinite strike.
The jute industry had witnessed a 63-day strike from Jan 5 to March 8 in 2007.
If the proposed strike lasts long it might prove counter-productive as the industry may have to lose many upcoming orders, Kajaria said.
The jute industry expects to bag an order of about 180,000 tonnes of sacks for packing the government`s procurement of foodgrains during the Rabi season in November-February.
"The government will inform us about the quantum of procurement for the Rabi season on Nov 20, but we expect it to be around one million bales (180,000 tonnes)," Kajaria said.
Kajaria expressed concern that if the jute industry failed to supply the required amount of gunny bags, the orders might go to competitors like synthetic bag manufacturers.
"If the jute industry fails to supply the requisite bags due to the strike, the government then has to look for other options," Kispotta added.
Under the Jute Packaging Materials (Compulsory Use in Packing Commodities) Act, 1987, all sugar and foodgrain procurement has to be done in jute sacks.
Describing the strike as unfortunate, Kajaria said it was not the right time to go for such an agitation, with the world reeling under the heat of recession.
Tracked by: 0 Boarder
India`s jute industry feels pinch of recession
Kolkata (IANS): India`s jute industry, which bags large orders from the Middle East and Europe, is likely to take a big hit from the ongoing global recession, and a strike in West Bengal next month will worsen the situation, say experts.
Up to 30 percent of the export order may be cancelled due to the global economic meltdown, says Indian Jute Mills Association (IJMA) chairman Sanjay Kajaria.
"A lot of export orders are getting delayed. If this continues this will lead to job losses. Recently, a big order from Turkey for carpets got cancelled," Kajaria told IANS.
A similar concern was echoed by Binod Kispotta, jute commissioner, when he said: "If the demand for commodities that are packed in jute bags falls worldwide, it is evident that the demand for jute bag exports will also fall."
Indian jute and jute products are popular in countries like Turkey, Syria and Saudi Arabia and also in European nations like Germany.
The amount of jute exported during the last fiscal (2007-08) was 250,000 tonnes and raked in Rs.8 billion. In the current fiscal, the total export will be around 200,000 tonnes but the revenue earned from export will remain the same as the rupee has depreciated.
Jute is a natural fibre and is grown in extensive parts of West Bengal, Bihar, Assam, Orissa and Uttar Pradesh in India.
The industry also fears a loss of Rs.10 billion from the imminent jute workers` strike in West Bengal from Dec 1 at 59 jute mills covering about 250,000 workers.
According to industry estimates, Rs.5 billion may be lost because of no offtake of bags by the sugar industry due to the strike. An equivalent sum will be lost as other agri-commodities like food grains, oilseeds, guars and lentils will also have to make do without jute bags.
"The workers will go on strike due to non-payment of dearness allowance (DA) by mill owners since April 2007," Kajaria said.
"There are dues of Rs.20,000 DA per labourer. The labourers are not getting provident fund, gratuity after retirement," Congress leader and veteran trade unionist Subrata Mukherjee told IANS.
The Indian National Trade Union Congress, the trade union wing of the Congress, is an active participant in the strike. However, the Centre of Indian Trade Unions (CITU)-affiliated Bengal Chatkal Majdoor Union has decided not to participate in the indefinite strike.
The jute industry had witnessed a 63-day strike from Jan 5 to March 8 in 2007.
If the proposed strike lasts long it might prove counter-productive as the industry may have to lose many upcoming orders, Kajaria said.
The jute industry expects to bag an order of about 180,000 tonnes of sacks for packing the government`s procurement of foodgrains during the Rabi season in November-February.
"The government will inform us about the quantum of procurement for the Rabi season on Nov 20, but we expect it to be around one million bales (180,000 tonnes)," Kajaria said.
Kajaria expressed concern that if the jute industry failed to supply the required amount of gunny bags, the orders might go to competitors like synthetic bag manufacturers.
"If the jute industry fails to supply the requisite bags due to the strike, the government then has to look for other options," Kispotta added.
Under the Jute Packaging Materials (Compulsory Use in Packing Commodities) Act, 1987, all sugar and foodgrain procurement has to be done in jute sacks.
Describing the strike as unfortunate, Kajaria said it was not the right time to go for such an agitation, with the world reeling under the heat of recession.
...
In reply to:
Will this indian slowdown lead to recesion?!
Posted by : sambala
Crisis would not end in a hurry – Mr Tata
BS reported that Mr Ratan Tata chairman of TATA Group wants freeze on acquisitions, drastic reduction in operational costs. He feels the twin problems of liquidity and demand slump will continue at least for the next 12 months.
Mr Tata said that in a letter to his group CEOs said that the worrying state of affairs is not likely to improve substantially over the next 12 months despite the government’s efforts.
Mr Tata has asked all group companies to undertake a critical review of their cash flow requirements and draw up business plans with defined strategies needed to operate in this difficult period. He said that failure to manage this crisis could result in irretrievable positions.
While dealing with the crisis, Mr Tata wants improvement in operational efficiency, aggressive implementation of restructuring of internal cost framework, drastic reduction in operating expenditure, deferment of non essential capital expenditure & capacity expansion and freezing of all acquisitions unless considered strategically critical.
Mr Tata said that the present global crisis has proved to have far reaching effects on several businesses in many geographies. He said that some of our companies with substantial foreign operations or those which have made substantial acquisitions are already facing major problems in raising capital or establishing lines of credit for their operations.
He said that in India also many companies were facing or would soon face major problems in accessing credit due to lack of liquidity in the domestic market as well as their inability to raise equity because of the depression in the stock market.
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Gurupada,
It is not the economy that would be taken care of in an election year but politics.
Every govt on the eve of ending their term has made it as a habit to announce lot of populist programmes with a view to catch votes. First of all, the announced programmes may not be implemented and even if to be implemented, it becomes the burden of the next govt which takes over. The opposition parties find it difficult to oppose it as they are populist programmes. If rice at one rupee per kg is announced (it has been done so many times), who can oppose it but all the players do know it well that implementation of the same is not possible. So what? Vote is waiting there and that is important.
Economy is destroyed by these politicians. And they will continue to do as nothing else they can do now.
Manmohan is an economist but even he will not say a thing if the congress is going to announce such populist programmes. We all know that he is being utilised by remote control.
knair...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : Gurupada
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
Tracked by: 0 Boarder
Present Govt should announce a Huge stimulus package in terms of Infrastructure projects....
covering the next few years....
covering all aspects of/in infrastructure....
which wud definitely give Big boost to the INDIAN economy...,
and which may also start attracting foreign capital in those projects after sometime over a period of time lasting the duration of those projects.
populist mesures like reduction in domestic fuel prices is only a tid bit.....
well yes they cud be reduced by small amount without hurting the oil marketing cos....
and use some of the reserve amount in/for the infrstructure projects.....
Dears Manomohana/Chhid-ambaram/Montek SA r u all listening....???
Cud u trio start thinking creatively and start collecting/weaving the feathers for ur respective caps....
may even give u all at UPA a landslide victory....
come on U (The Trio)Boys !!! so far...Be man enough and ACT FAST....
...
In reply to:
Downturn could dent UPA`s election prospects: Sardesai
Posted by : MMB Messenger
Rajdeep Sardesai, Editor-In-Chief, CNN-IBN, feels the current economic downturn, if it intensifies, could be a disadvantage for the incumbent UPA government ahead of the crucial general assembly elections next year though, at the same time, it presents an opportunity for Prime Minister Manmohan Singh to be seen as proactive.
