Please educate yourself & others to be far away from to be dumped Congress Party, which brought us to a ditching situation. Spread the reality and ask them to elect competent BJP as our ruler for next atleast 10 years to regain our prosperity. Dump Congress in to hell for ever. We take an oath not depend on foreigners (Italy & co) and we will stand on our own. ------------------------- DECLINE OF THE RUPEE By Lt Col CR Sundar, President Tamil Nadu BJP ExServicemen’s Cell Against the US Dollar the value of the Indian Rupee as on 21 August 2013 was Rs. 64.46 which is the lowest ever. Already the rupee has crossed the 100 Re mark against the Pound. The rupee is expected to sink further and economists believe that the bottom is nowhere in sight. No doubt there are a number of factors which affect the value of the Rupee. But the most important among them is our abysmal performance in the fields of imports and exports. To put it simply, had India been selling more goods and services in the overseas market than it buys from them we would have had a trade surplus. This means more foreign currency would have come into the country than what is paid out for imports. This would have strengthened the rupee. Since this had not happened our rupee value is falling. When we look at the causes for all this we find that three career economists of our country who have been ruling the roost for far too long, viz., Manmohan Singh, P Chidambaram and Montek Singh have got it all wrong. When the price of commodities rose they tried to fool us by saying that it was a symptom of rising prosperity. To find the reason for this current fiasco we have to go back to 2007 when our growth rate rose to 9% per annum and stayed there for three continuous years. The fact is that the rise was not due to any thing positive done by the threesome mentioned above. They can take no credit for that. The growth was on account of good monsoons on five preceding years due to which we could sell agri-products and textiles. That was the time that they should have done everything to improve the infrastructure and the power sectors. They should have given a massive boost to small scale industries. Small time entrepreneurs should have been encouraged and given a conducive climate to grow. Instead they encouraged crony capitalism and as a result corporate debts of the 10 biggest Indian companies have risen to an all time high of 13 lakhs and 65 thousand crore rupees. Simultaneously the short term debt in the international market has risen to 11 and a half lakh crore rupees. We would be hard put to pay the interest on these loans leave alone find the money to invest in new businesses. In addition we are now dependent on China for everything, from pins and pens to air conditioners and washing machines, thus boosting that China’s economy and ruining our own. How do we climb out from of this economic abyss? It should be remembered that economic well being is as much a matter of perception as anything else. That being that, it is well known that the present Congress government is seen as one that is both incompetent as well as corrupt. The people do not believe that Manmohan and his team will be able to dig us out of this pit. Their words will have no traction. Hence so long as he and his team are in the saddle there is going to be no optimism. Only when a change of government comes up after the next Parliamentary elections in 2014 are we likely to see a financial upturn. The new government can give a new direction to the country and its economy. The people will really respond to new initiatives and become positively productive. Meanwhile what is the best thing that we retired defence personnel can do during these hard times? The advice from economists is not to do anything till the new government is in place. Do not take any foolhardy steps to try to corner blue chip shares going cheap or invest in non-essential gold, lands or housing. Also do not sell any property or gold till things steady out. The best thing would be to hold on to your assets and keep your cash liquid in fixed deposits in public sector banks. Of course there will be a reduction in the value of our savings due to inflation. That should be taken for granted. There is a sad matter which we retired defence personnel have to be bold enough to face at present. After the elections the Bharatiya Janata Party will take over the reigns at the centre and in due course in most of the States of our country. Till that happens there is no chance that our major demand, viz., one-rank-one-pension will be granted to us. Let us now prepare for the upturn when we succeed in flushing down the Congress and setting up our own government at the centre and in the states. --Lt Col CR Sundar, Plot No. 43, 24th Cross Street, Padmavathy Nagar, Madambakkam, Chennai - 600126 80561 63792 Please visit chillispray
Posted on: Sun, 25 Aug 2013 06:40:09 +0000
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