India to be downgraded to junk
Thread Starter
Join Date: Apr 2008
Location: Playing Golf!
Age: 46
Posts: 1,037
Likes: 0
Received 0 Likes
on
0 Posts
I would not be so hasty to say that, it's true that some members have asked for a bailout. It's also true that MOST of the members maintain the gold standard in credit ratings, certainly not junk status.
Thread Starter
Join Date: Apr 2008
Location: Playing Golf!
Age: 46
Posts: 1,037
Likes: 0
Received 0 Likes
on
0 Posts
I'm willing to bet it will be. Was pretty clear from the Indian chap they had on the BBC it would be. Due to the Governments failures in many areas.
I'm sure them just talking about it in the mainstream media is enough to ensure that everything on the markets takes a hit.
I'm sure them just talking about it in the mainstream media is enough to ensure that everything on the markets takes a hit.
Join Date: Jan 2012
Location: Mumbai
Posts: 28
Likes: 0
Received 0 Likes
on
0 Posts
Please be aware, just like any other country, votebank politics matters in India. Economic reforms, monetary policies will be introduced in the next few months which would make things better. Hence the people will bring back this Government to power yet again in 2014. This is typical in every country (developed), maybe not so bad as it is in India (and we are a developing country, mind you).
Thread Starter
Join Date: Apr 2008
Location: Playing Golf!
Age: 46
Posts: 1,037
Likes: 0
Received 0 Likes
on
0 Posts
I wish I could remember the figure....
Anyway, I once read a report about how much of an Indian tax "dollar" actually makes it to the supposed cause.... it was just a few cents, the rest was siphoned off.
It's no wonder things are the way they are.
There needs to be a serious cleaning up of the Indian political system and getting rid of all that red tape and "process" that is loved so much.
Get rid of all of that, and the tax (from those who pay it) might actually start getting to where it was allocated.
Anyway, I once read a report about how much of an Indian tax "dollar" actually makes it to the supposed cause.... it was just a few cents, the rest was siphoned off.
It's no wonder things are the way they are.
There needs to be a serious cleaning up of the Indian political system and getting rid of all that red tape and "process" that is loved so much.
Get rid of all of that, and the tax (from those who pay it) might actually start getting to where it was allocated.
Join Date: Jul 2009
Location: Somewhere over the Rainbow
Posts: 735
Likes: 0
Received 0 Likes
on
0 Posts
One finger points ahead and 4 back at you
3% of Indians Only pay Tax (direct tax). All the others claim they earn below the $10,000 mark or less. Yet there are 5000 cars a day added to the roads and real estate prices rival Manhattan with a very small amount of them being purchased on Bank loans, with even a lower NPA level than some of the most developed nations.
Political system needs modifications that will remove a bit of the structure that allows multi parties who extract their pound of flesh and blood at every juncture
Any and every ruling party wants only to stay in power at any cost so they do not call bluff of allies as stated above.
70% of tax collections direct and indirect go towards subsidies and "social" programs of handing out dole. Of this a huge amount is syphoned out primarily at the lower levels. STOP GIVING HANDOUTS. This will improve your fiscal deficit and avoid degrading of your rating.
Corruption is not only in government but in the DNA of Indians. It seems to be "ok" and "morally acceptable" to take what one determines is their birth right. Google and see how many Indians outside India are under trial for Fraud, and large scams, none are from the government. See some of the respected Indians in India and see how many have scammed from private sector or under investigation for Fraud. Google and see how many religious icons are under scrutiny for fraud and how many own islands across the world and helicopters.
The very act of standing in line and waiting ones turn is not taught in school!
Now before the Patriotics start carpet bombing me with success stories, do remember corruption starts from the private industry and moves to the government. If all stop paying the government will need to yield. However Mukesh might claim he is not paying and tell Sunil to stop paying but will in the end quietly pay to get his job done and ensure Sunil drowns. I have to generalize to put the entire view in perspective as changing a government will not cause an over night miracle.
Note: Names are just examples.....
For all the religious shenigens and 1000 different gods and god fearing people, it seems the Indian gods still don't impart moral sense to all in India. Yes there are some brilliant moral examples though.
Mumbai ACP targets restaurants, assaults owners, waiters, customers with hockey stick - India News - IBNLive
Note 2: Religious institutions in India are exempt from reporting large cash donations and paying tax. Hmm wonder why
Note 3: Politicians and Indian Large (not physically in most cases) businessmen are trustees of the above Religious institutions....
Note 4: It is estimated that if all the Cash, real estate and Precious metals held in every Religious institution as mentioned above is liquidated excluding idols and other objects of worship, the Fiscal deficit Europe is facing could be wiped out in one day! But then again only the chinese are buying.........wouldnt that be hilarious to see India Reach a AAA rating status by bailing out the globe with cash from the Chinese.
Now back to the favorite whipping boys KF and AI
Political system needs modifications that will remove a bit of the structure that allows multi parties who extract their pound of flesh and blood at every juncture
Any and every ruling party wants only to stay in power at any cost so they do not call bluff of allies as stated above.
70% of tax collections direct and indirect go towards subsidies and "social" programs of handing out dole. Of this a huge amount is syphoned out primarily at the lower levels. STOP GIVING HANDOUTS. This will improve your fiscal deficit and avoid degrading of your rating.
Corruption is not only in government but in the DNA of Indians. It seems to be "ok" and "morally acceptable" to take what one determines is their birth right. Google and see how many Indians outside India are under trial for Fraud, and large scams, none are from the government. See some of the respected Indians in India and see how many have scammed from private sector or under investigation for Fraud. Google and see how many religious icons are under scrutiny for fraud and how many own islands across the world and helicopters.
The very act of standing in line and waiting ones turn is not taught in school!
Now before the Patriotics start carpet bombing me with success stories, do remember corruption starts from the private industry and moves to the government. If all stop paying the government will need to yield. However Mukesh might claim he is not paying and tell Sunil to stop paying but will in the end quietly pay to get his job done and ensure Sunil drowns. I have to generalize to put the entire view in perspective as changing a government will not cause an over night miracle.
Note: Names are just examples.....
For all the religious shenigens and 1000 different gods and god fearing people, it seems the Indian gods still don't impart moral sense to all in India. Yes there are some brilliant moral examples though.
Mumbai ACP targets restaurants, assaults owners, waiters, customers with hockey stick - India News - IBNLive
Note 2: Religious institutions in India are exempt from reporting large cash donations and paying tax. Hmm wonder why
Note 3: Politicians and Indian Large (not physically in most cases) businessmen are trustees of the above Religious institutions....
Note 4: It is estimated that if all the Cash, real estate and Precious metals held in every Religious institution as mentioned above is liquidated excluding idols and other objects of worship, the Fiscal deficit Europe is facing could be wiped out in one day! But then again only the chinese are buying.........wouldnt that be hilarious to see India Reach a AAA rating status by bailing out the globe with cash from the Chinese.
Now back to the favorite whipping boys KF and AI
Last edited by Wannabe Flyer; 13th Jun 2012 at 06:37.
Join Date: Mar 2012
Location: zoo
Posts: 79
Likes: 0
Received 0 Likes
on
0 Posts
@Wannabe Flyer
I appreciate the fact that you have concerns about corruption in India. However, one needs to be a little more careful with his/her choice of forum for expressing these concerns. As you might have already noticed, there is an India bashing campaign that goes on at PPrune. The vilification of Indians attempted by you on PPrune will make it difficult for Indian aviation professionals to find acceptance in the International job market.
A problem bigger than corruption that India faces is the abuse of the Right to Freedom of Expression by people who just talk, talk and talk but do not have the balls to actually make a difference on the ground. Let me ask these people,
"WHAT THE BLOODY HELL HAVE YOU DONE FOR BRINGING IMPROVEMENT IN THE COUNTRY?"
Rather than working for improvement, these "talkers" sully the country's image on international fora and spread negativity around.
Another problem is that these people think they are acting as some kind of intellectuals while showing their country in bad light to foreigners. They have this unfounded belief of superiority while in actual they are ............
All countries have issues. It is just that some countries do not produce morons who score a self-goal by rebuking their fellow citizenry in front of the world.
Good Day to you sir/ma,am.
____________________________________________________________ ____
About the Euro Crises. It is in fact getting worse day by day. They are unable to get Greece out of the mess. I only wonder what will happen when Italy or Spain follows! You see, this is what happens when you get used to a life style beyond your means. This is what happens when lazy people get used to a life style which they never really deserved. The idiots know that the German solution is more appropriate but are unable to push it through. The "supposedly" pro-bailout party which came to power in Greece is calling for a restructuring of the bail-out plan!!! Meanwhile Spain cries "ME TOO". What a mess!
Britain being America's ***** is not that worried. But wait a minute, did i hear them taking about another recession? I wonder why it took an Indian company to turn Jaguar-Land Rover around? Just read an article the other day saying that Jaguar is the second most improved luxury car brand in 2011-2012.
A problem bigger than corruption that India faces is the abuse of the Right to Freedom of Expression by people who just talk, talk and talk but do not have the balls to actually make a difference on the ground. Let me ask these people,
"WHAT THE BLOODY HELL HAVE YOU DONE FOR BRINGING IMPROVEMENT IN THE COUNTRY?"
Rather than working for improvement, these "talkers" sully the country's image on international fora and spread negativity around.
Another problem is that these people think they are acting as some kind of intellectuals while showing their country in bad light to foreigners. They have this unfounded belief of superiority while in actual they are ............
All countries have issues. It is just that some countries do not produce morons who score a self-goal by rebuking their fellow citizenry in front of the world.
Good Day to you sir/ma,am.
____________________________________________________________ ____
About the Euro Crises. It is in fact getting worse day by day. They are unable to get Greece out of the mess. I only wonder what will happen when Italy or Spain follows! You see, this is what happens when you get used to a life style beyond your means. This is what happens when lazy people get used to a life style which they never really deserved. The idiots know that the German solution is more appropriate but are unable to push it through. The "supposedly" pro-bailout party which came to power in Greece is calling for a restructuring of the bail-out plan!!! Meanwhile Spain cries "ME TOO". What a mess!
Britain being America's ***** is not that worried. But wait a minute, did i hear them taking about another recession? I wonder why it took an Indian company to turn Jaguar-Land Rover around? Just read an article the other day saying that Jaguar is the second most improved luxury car brand in 2011-2012.
Join Date: May 2001
Location: HERE AND THERE
Posts: 863
Likes: 0
Received 0 Likes
on
0 Posts
Billboard
Wannabeflyer wrote one of the best posts I ever read here. An accurate 'X ray" of how India works.
This is widespread through all sectors including Aviation.
Your post is just bollocks: xenophobic, trying childishly to compare indian situation with EU countries. It's ridiculous, misinformed.
Go and do some serious search, read some books, before thinking about posting here.
This is widespread through all sectors including Aviation.
Your post is just bollocks: xenophobic, trying childishly to compare indian situation with EU countries. It's ridiculous, misinformed.
Go and do some serious search, read some books, before thinking about posting here.
Join Date: Sep 2011
Location: Las Vegas,USA
Age: 49
Posts: 10
Likes: 0
Received 0 Likes
on
0 Posts
Fullforward
and you need to do some serious research about India before posting here.I guess you have forgotten how Dassault and Eurofighter were begging to get selected and even willing to transfer technology to India.Indian economy is in far better shape compared to most of the countries in EU.
And what Billboard mentioned is the truth and I guess truth hurts.
and you need to do some serious research about India before posting here.I guess you have forgotten how Dassault and Eurofighter were begging to get selected and even willing to transfer technology to India.Indian economy is in far better shape compared to most of the countries in EU.
And what Billboard mentioned is the truth and I guess truth hurts.
