The finance minister has changed the direction of India’s budget deficit by reducing the target for 2010-11 to 5.5 percent.
You really believe it will happen? Go back over the years and see their previous claims.
(This story appears in the 19 March, 2010 issue of Forbes India. To visit our Archives, click here.)
Mr Rogers is right in one fundamental way. Subsidies that are offered to Farmers in India are ridiculously lavish for a nation so poor. We are taxing the most productive members of our population and giving the least productive members of our society a free ride just because they are "poor" ? How does that make sense and how is it fair ? In the Political circus that is India, the price of pandering to the vote mob is Billions of dollars, while the cost to the politician signing the cheques is ZERO! Corporate India has to come to terms with the fiasco that is government financing and pressurize the government to see reason for all our sakes, otherwise corporate India will have to start paying their employees in Gold because the Indian rupee will become India's greatest export - Toilet paper.
on Apr 21, 2011Mr. Rogers gives us a break.........
on Apr 15, 2010The problem of Fiscal deficit is not as big as he claims as India is still a fast developing country. But it will be in trouble if the politicians continue with the mismanagement. The problem in China is worse because of the gigantic mis-allocation of resources. Its a train wreck waiting to happen and I definitely do not share Mr. Rogers optimism. More likely China would follow the Latin American path.
on Mar 11, 2010One tends to agree to the point that only small steps are taken for making the nation self reliant in energy that can be done through natural gas, bloom boxes, nuclear, less on Imported oil.
on Mar 11, 2010India's deficit at 80% is lower than many other countries such as Japan. India is growing at over 7%, that is more important than reducing the deficit.
on Mar 11, 2010Look how desperate the govt is...they want to sell NMDC at 300-350! It should have been priced at 250. And now FM is calling Help! Help! Help! to LICs n SBIs to bail out NMDC IPO. Is this call disinvestment?! How can we cut deficit when one govt company need to bailout another?!
on Mar 11, 2010A bit frightening and unsettling. However, what is intriguing is that if what Rogers is saying is true or even has some measure of truth, how come "Dada Economists" like Manmohan Singh and Montek Singh Ahluwalia who are dyed-in-the-wool world bank apologists and have apprenticed there have not considered any of these likely impacts. <br /> Are we being taken for a ride or is Rogers protesting a bit too much? Would someone explain to a layman like me "what is really happening" or, even better, "what is really going to happen ?"
on Mar 12, 2010All this because Jim drove through India on his shiny custom made Merc four wheel and was not allowed to get from the Kashmir Valley or out from Arunachal Pradesh without fuss - what a biased view of the country.
on Mar 22, 2010