dear bookworm, you have written what I also thought, means most of the right thinking persons feel, our leaders just choose slogans like socialist, garibi hatao , in practice just do opposite. every week our PM will say we are committed to weed out corruption and we see each day a new scandle coming out of cupboards of this govt. ...

Socialism is good if it is implemented in true spirit &limited extent.When you don`t want to work,you have to devalue your currency,your soul,your self for survival.China chose self respect & hard work.I don`t mean to say China is all goody-goody.It has flaws,but comparatively China model(& their leaders) is much better than India.It is the success & failure which distinguishes between good & bad.Subsidies are never meant for 1000 years.Subsidies must STOP now....

Stop buying gold as household investment,banks deposits are better alternative.Stop unnecessary subsidies.Have a powerful PM.President should be from people like Ratan Tata,Narayan Murthy,Abdul Kalam etc but purely nonpolitical & great vision....

Dear BW, I am not a believer of the Rs 19 vs $ theory.. To me a market is simple demand supply. We do not have ways to Earn $ but spend tons of it and in doing so currency depriciation is a given... IT would only be a naive mind to say i want to spend more $ than i earn and still want a currency to appreciate, there is simply no logic to justify it in terms of market dynamics. Theoretical approaches can give Re levels of 75 and 19 which stay on paper as they never become a part of reality and dare i say never will.....

The white paper on Black money talks about the OTHERS black money. The black money, generated by those in power does not appear to have been defined in the document. The estimate of Black money given by CAG in 2G alone was one lakh seventy thousands crores. This was the contribution of one of the Rajas. There have been many more Rajas who have ruled us. The kind of black money given in the White Paper, if not detected points to or is attributable to the failure of the administration in policing. But it is not this money, that can impact the country. It is that Black Money which is generated by those in powers, the POWERFUL BLACK MONEY, over which the law enforcing authorities have no jurisdiction, and which cannot be policed that appears to be creating more problems for the Country. For if one does not have to fear the law, then one can created may be 100 times more than if one were to do it hiding from the law. I have not as yet read the full document, so I do not find myself qualified to call it Black Paper on Black Money. But someone more knowledgeable, probably can give his opinion after reading the entire document....

Mahatma g/andhi..........BW...

They have covered it in para 2.2.1 !!!! "2.2 Factors Leading to Generation of Black Money 2.2.1 Black money arising from illegal activities such as crime and corruption has an underlying antisocial element. The ‘criminal’ component of black money may include proceeds from a range of activities including racketeering, trafficking in counterfeit and contraband goods, smuggling, production and trade of narcotics, forgery, illegal mining, illegal felling of forests, illicit liquor trade, robbery, kidnapping, human trafficking, sexual exploitation and prostitution, cheating and financial fraud, embezzlement, drug money, bank frauds, and illegal trade in arms. Some of these offences are included in the schedule of the Prevention of Money Laundering Act 2002. The ‘corrupt’ component of such money could stem from bribery and theft by those holding public office – such as by grant of business, leakages from government social spending programmes, speed money to circumvent or fast-track procedures, black marketing of price-controlled services, and altering land use regularizing unauthorized construction. All these activities are illegal per se and a result of human greed combined with declining societal values and inability of the state to prevent them. Factors leading to their generation are both social and administrative....

Black money is the source of Corruption and not vice-verse.. Corruption does not generate black money, but black money get paid to the corrupt. So in that sense i think the White Paper has done good to mention sources of Black Money and not its uses or reasons why Black Money is needed by many as White can not be paid as bribe by Corporates from their Reported numbers ofcourse they can not mention a White Transaction saying 1 Billion $ transferred to Sonia G@ndhi....

The corrupt MNCs,,,,Very good observation!But the main thing is bothering me is that ,our politicians corrupted them or they corrupted our politicians.1947 MG was i think heading a team which was expert in 123,or kh,p,ch////RIL CAME AFTER MANY YEARS....

Dear BW, Let us not ignore the fact that even before MNC`s will get a chance to loot us, we would not have much left to loot thanks to in house thieves we have called INDIAN ENTREPRENEURS who expertise with a PHD in LOOT. Well many do if not all....

Why did not our planners go in for developement of public transport systems, instead of promoting cars ?

Why we need dollars, when we have such a large population ?

Why we have to buy them at higher price, than it is good for the country?

why cud we not emulate china, in keeping our currency, and did it stop inflow of F. excahnge there ?

To me it seems, what BSR was writing, is more probable.

Indians have been taken for a ride, by the powers that be, in connivance with our netas and babus.

That is my perception....

In 1966-67, when IG was forced by powers that be,

became annoyed and turned socialist, and for that ammended the constition with 2/3 majority, to include SOCIALIST in the preamble.

After her death, when RG became the PM, then the powers of the world had ppl in dli, and liberalisation was talked about.

in 1991, they got an opportunity and had a strong hold in Delhi.

But what fascinates me, is that w/o changing the preamble to the constitution, they usher in capitalism, then what is its locus standi, in view of action of IG.

Further, the devaluation of rupee started from there, and we started importing inflation.

When China did not devalue its currency, then did it not get FDI ?

When a trader, buys something costly, can he survive for long.

We have unnecessary devalued our currency. We promoted Car, its usage increased many fold, and now we are spending 70% (abt) fexch on importing petrol.

Ghar mein nahi daane amma chali bhunane !!!! ...

Ban travelling by cars,

for most (abt 70%) of it spent on petrol.

and to put an end to fiscal deficit, slash the pays of Netas and Babus, and if they are patriot, they will do it.

We have fiscal deficit, current account defict, last but not the least, deficit of TRUST of the ppl, in the present govt.

We have abundance of Corruption, scams, ....

baki aap log bhi to batao !!!...

HOW do you relate him with corruption or MNCs or both ?...

Then Why we are importing inflation ?

...

Previously there was bhakhshis, which was at the will of giver,

now graft, extortion, and at the will of taker,

and the punishes the taker and giver, on paper only !!!...

Indira G@ndhi, in retalliation to forcefull devaluation turn hostile to IMF and WB,

and he as soon as becomes FM in 1991, devalues the rupee by abt 25%,

It shows his ability as an Economist, but not o/w ?...

In 1966-67, when IG was forced by powers that be,

became annoyed and turned socialist, and for that ammended the constition with 2/3 majority, to include SOCIALIST in the preamble.

After her death, when RG became the PM, then the powers of the world had ppl in dli, and liberalisation was talked about.

in 1991, they got an opportunity and had a strong hold in Delhi.

But what fascinates me, is that w/o changing the preamble to the constitution, they usher in capitalism, then what is its locus standi, in view of action of IG.

Further, the devaluation of rupee started from there, and we started importing inflation.

When China did not devalue its currency, then did it not get FDI ?

When a trader, buys something costly, can he survive for long.

We have unnecessary devalued our currency. We promoted Car, its usage increased many fold, and now we are spending 70% (abt) fexch on importing petrol.

Ghar mein nahi daane amma chali bhunane !!!! ...

"India’s liberal “pro-market” reforms began, rather hesitatingly under the
government of Prime Minister Rajiv G@ndhi in the mid-eighties and gathered
momentum from 1991 under the leadership of his successor P V Narasimha
Rao. This papers analyses the strategies of the World Bank and the International
Monetary Fund in India and in a few other countries and shows that, after
abandoning the principle of strict conditionality for the approval of loans and
apparently distancing themselves from the US government, the IFIs applied
subtler and more effective methods to recruit allies within the Indian political
and administrative system in order to secure the adoption of the policies they
required and engineer the liberalisation of the country’s economy."

Introduction to - FROM “HARD SELL” TO “SOFT SELL”:
THE IMF, WORLD BANK AND
INDIAN LIBERALISATION

................By Mitu Sen Gupta...

Public companies have had a difficult decade, battered by scandals, tied up by regulations and challenged by alternative corporate forms


Link : http://t.in.com/enOb...

Why such hatred for reliance, and love for foreign MNcs ?...

Can any coloniser say, including government, that there will be no water logging for next 50 years, as were developed by britishers ?

Our Policy makers do not plan for long term, they only react to situtaions, in a knee jerk way ?

Either, they do not have foresight, or are subservient, or are greedy to the hilt ?...