Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 29th August 2013, 18:08   #151
RGK
Senior - BHPian
 
RGK's Avatar
 
Join Date: Feb 2010
Location: DPM and CHN
Posts: 1,351
Thanked: 200 Times
Default Re: The Falling Indian Rupee

Very interesting to know the facts and the steps to follow as a citizen.

I am not a finance guy, just my two cents....

Will bringing back the black money (if the government is really interested) help in stopping the rupee fall ??
RGK is offline   Reply With Quote
Old 29th August 2013, 22:44   #152
Senior - BHPian
 
tharian's Avatar
 
Join Date: Dec 2011
Location: SBC
Posts: 2,158
Thanked: 2,418 Times
Default

With the Rupee hitting new depths and economy in a sorry state,the first car manufacturer to pass on the increases to buyers are GM by hiking the prices of Beat and Enjoy by around 10k.
With all that's happening at GM and low sales and no diesel's in few of their models, maybe its not surprising.

Last edited by tharian : 29th August 2013 at 22:50.
tharian is offline   Reply With Quote
Old 29th August 2013, 23:09   #153
BHPian
 
neofromcapone's Avatar
 
Join Date: Nov 2007
Location: Bombay
Posts: 271
Thanked: 103 Times
Default

Quote:
Originally Posted by RGK View Post
Very interesting to know the facts and the steps to follow as a citizen.

I am not a finance guy, just my two cents....

Will bringing back the black money (if the government is really interested) help in stopping the rupee fall ??
Say if you put $100 in a bank in New York, in oct 2011, when the dollar was ~Rs 40.
(So you would have put away Rs.4000)

And today if you bring your $100 back into India, how many rupees would you get?
~ Rs. 6900 + the interest that you would have earned from the deposit.

So for doing nothing you get a gain of Rs. 2900.
Now imagine this is in multiples of crores.

The rupee has no doubt hemorrhaged, and yes the economy is in a state of flux. But don't write off the India story, we will bounce back, this correction will be as painful, as also necessary.

Till the election the rupee will be a source of disappointment, which is no way a reflection of the country and our future.
neofromcapone is offline   Reply With Quote
Old 29th August 2013, 23:20   #154
BHPian
 
Daewood's Avatar
 
Join Date: Dec 2009
Location: Chennai
Posts: 943
Thanked: 223 Times
Default Re: The Falling Indian Rupee

Quote:
Originally Posted by RGK View Post
Will bringing back the black money (if the government is really interested) help in stopping the rupee fall ??
Quote:
Originally Posted by neofromcapone View Post
Say if you put $100 in a bank in New York, in oct 2011, when the dollar was ~Rs 40.
Why would anyone put his money into a foreign bank which will give him much lesser interest than what an Indian Bank gives. If it was illegal money, aren't there many avenues like Real Estate, Gold, etc.
Daewood is offline   Reply With Quote
Old 29th August 2013, 23:43   #155
BHPian
 
Hayek's Avatar
 
Join Date: Jul 2011
Location: Bombay
Posts: 702
Thanked: 1,593 Times
Default

Quote:
Originally Posted by Daewood View Post
Why would anyone put his money into a foreign bank which will give him much lesser interest than what an Indian Bank gives. If it was illegal money, aren't there many avenues like Real Estate, Gold, etc.
Sorry but that is a fallacy. Anyone with any knowledge of finance would recognise that nominal interest rates are irrelevant to making investment decisions - it's real returns that matter. Real pre tax interest rates on Indian bank deposits have been negative for at least 4 years. That becomes even worse when you are taxed on the nominal interest you get. So you are better off investing in a zero percent deposit in USD or CHF.

Further, it always makes sense to diversify your assets. India accounts for just 2% of world GDP - so anyone with more than 2% of his assets in India is overweight this country. Moving a decent chunk of your net worth offshore (using the perfectly legal USD 75k per annum Liberalised Remittance Scheme) is a no brainer. And yes, you have to pay taxes on income earned on those offshore assets.
Hayek is offline   Reply With Quote
Old 2nd September 2013, 12:56   #156
BHPian
 
Join Date: Aug 2006
Location: Hyderabad
Posts: 82
Thanked: 20 Times
Default Re: The Falling Indian Rupee

This Post I got it from Facebook. Please share If you think it is worth.

YOU CAN MAKE A HUGE DIFFERENCE TO THE INDIAN ECONOMY BY FOLLOWING FEW SIMPLE STEPS:-

Please spare a couple of minutes here for the sake of India.

I got this article from one of my friends, but it's true. I can see this in day to day life.

Do you think US Economy is booming? No, but Indian Economy is Going Down.

Our economy is in your hands....

INDIAN economy is in a crisis. Our country like many other ASIAN countries, is undergoing a severe economic crunch. Many INDIAN industries are closing down. The INDIAN economy is in a crisis and if we do not take proper steps to control those, we will be in a critical situation.

More than 30,000 crore rupees of foreign exchange are being siphoned out of our country on products such as cosmetics, snacks, tea, beverages, etc... which are grown, produced and consumed here.

A cold drink that costs only 70 / 80 paisa to produce, is sold for Rs.9 and a major chunk of profits from these are sent abroad. This is a serious drain on INDIAN economy.

We have nothing against Multinational companies, but to protect our own interestsm we request everybody to use INDIAN products only atleast for the next two years. With the rise in petrol prices, if we do not do this, the Rupee will devalue further and we will end up paying much more for the same products in the near future.

What you can do about it?

1. Buy only products manufactured by WHOLLY INDIAN COMPANIES.
2. ENROLL as many people as possible for this cause.....

Each individual should become a leader for this awareness. This is the only way to save our country from severe economic crisis. You don't need to give-up your lifestyle. You just need to choose an alternate product.

All categories of products are available from WHOLLY INDIAN COMPANIES.

LIST OF SOME PRODUCTS

COLD DRINKS:-

DRINK LEMON JUICE, FRESH FRUIT JUICES, CHILLED LASSI (SWEET OR SOUR), BUTTER MILK, COCONUT WATER, JAL JEERA, ENERJEE, and MASALA MILK...

INSTEAD OF COCA COLA, PEPSI, LIMCA, MIRINDA, SPRITE

BATHING SOAP:-
USE CINTHOL & OTHER GODREJ BRANDS, SANTOOR, WIPRO SHIKAKAI, MYSORE SANDAL, MARGO, NEEM, EVITA, MEDIMIX, GANGA , NIRMA BATH & CHANDRIKA

INSTEAD OF LUX, LIFEBUOY, REXONA, LIRIL, DOVE, PEARS, HAMAM, LESANCY, CAMAY, PALMOLIVE

TOOTH PASTE:-
USE NEEM, BABOOL, PROMISE, VICO VAJRADANTI, PRUDENT, DABUR PRODUCTS, MISWAK

INSTEAD OF COLGATE, CLOSE UP, PEPSODENT, CIBACA, FORHANS, MENTADENT.

TOOTH BRUSH: -
USE PRUDENT, AJANTA , PROMISE

INSTEAD OF COLGATE, CLOSE UP, PEPSODENT, FORHANS, ORAL-B

SHAVING CREAM:-
USE GODREJ, EMAMI

INSTEAD OF PALMOLIVE, OLD SPICE, GILLETE

BLADE:-
USE SUPERMAX, TOPAZ, LAZER, ASHOKA

INSTEAD OF SEVEN-O -CLOCK, 365, GILLETTE

TALCUM POWDER:-
USE SANTOOR, GOKUL, CINTHOL, WIPRO BABY POWDER, BOROPLUS

INSTEAD OF PONDS, OLD SPICE, JOHNSON'S BABY POWDER, SHOWER TO SHOWER

MILK POWDER:-
USE INDIANA, AMUL, AMULYA

INSTEAD OF ANIKSPRAY, MILKANA, EVERYDAY MILK, MILKMAID.

SHAMPOO:-
USE LAKME, NIRMA, VELVETTE

INSTEAD OF HALO, ALL CLEAR, NYLE, SUNSILK, HEAD AND SHOULDERS, PANTENE

MOBILE CONNECTIONS:-
USE BSNL, AIRTEL

INSTEAD OF HUTCH

Food Items:-
Eat Tandoori chicken, Vada Pav, Idli, Dosa, Puri, Uppuma

INSTEAD OF KFC, MACDONALD'S, PIZZA HUT, A&W

Every INDIAN product you buy makes a big difference. It saves INDIA. Let us take a firm decision today.

BUY INDIAN TO BE INDIAN - We are not against of foreign products.

WE ARE NOT ANTI-MULTINATIONAL. WE ARE TRYING TO SAVE OUR NATION. EVERY DAY IS A STRUGGLE FOR A REAL FREEDOM. WE ACHIEVED OUR INDEPENDENCE AFTER LOSING MANY LIVES.
THEY DIED PAINFULLY TO ENSURE THAT WE LIVE PEACEFULLY. THE CURRENT TREND IS VERY THREATENING.

MULTINATIONALS CALL IT GLOBALIZATION OF INDIAN ECONOMY. FOR INDIANS LIKE YOU AND ME, IT IS RE-COLONIZATION OF INDIA. THE COLONIST'S LEFT INDIA THEN. BUT THIS TIME, THEY WILL MAKE SURE THEY DON'T MAKE ANY MISTAKES.

WHO WOULD LIKE TO LET A "GOOSE THAT LAYS GOLDEN EGGS" SLIP AWAY?

PLEASE REMEMBER: POLITICAL FREEDOM IS USELESS WITHOUT ECONOMIC INDEPENDENCE

RUSSIA, S.KOREA, MEXICO - THE LIST IS VERY LONG!! LET US LEARN FROM THEIR EXPERIENCE AND FROM OUR HISTORY. LET US DO THE DUTY OF EVERY TRUE INDIAN.

FINALLY, IT'S OBVIOUS THAT YOU CAN'T GIVE UP ALL OF THE ITEMS MENTIONED ABOVE. SO GIVE UP AT LEAST ONE ITEM FOR THE SAKE OF OUR COUNTRY!

We would be sending useless forwards to our friends daily. Instead, please forward this mail to all your friends to create awareness.

"LITTLE DROPS MAKE A GREAT OCEAN."

PLEASE TRY TO BE AN INDIAN.....
mituadas is offline   Reply With Quote
Old 2nd September 2013, 13:02   #157
Team-BHP Support
 
tsk1979's Avatar
 
Join Date: Feb 2005
Location: New Delhi
Posts: 22,852
Thanked: 15,407 Times
Default Re: The Falling Indian Rupee

Quote:
Originally Posted by mituadas View Post
This Post I got it from Facebook. Please share If you think it is worth....
Like most things on FB, this post is also junk and written by someone who does not understand how basic economics work.
tsk1979 is offline   Reply With Quote
Old 2nd September 2013, 13:19   #158
Senior - BHPian
 
Join Date: Mar 2007
Location: Mumbai
Posts: 1,444
Thanked: 281 Times
Default Re: The Falling Indian Rupee

Quote:
Originally Posted by tsk1979 View Post
Like most things on FB, this post is also junk and written by someone who does not understand how basic economics work.
Also written by someone who doesn't understand how a CapLock works. And written on a foreign site(facebook) using a computer most probably manufactured by a multinational(even if it's something like HCL - every part of the computer is probably imported). If the fellow really believed in what he wrote, he should probably be shouting this from a street corner rather than writing it on Facebook.
carboy is offline   Reply With Quote
Old 2nd September 2013, 13:26   #159
BHPian
 
HillMan's Avatar
 
Join Date: Jul 2013
Location: Bangalore
Posts: 699
Thanked: 401 Times
Default Re: The Falling Indian Rupee

Quote:
Originally Posted by tsk1979 View Post
Like most things on FB, this post is also junk and written by someone who does not understand how basic economics work.
totally with @tsk1979 on this. Swadeshi is good to boost domestic industry, but then a clap happens with both hands. International trade is what values the economy at global scale.

The government policy should be export oriented and there should be huge focus on infrastructure. Why export iron ore while incentives can be given to produce hi-grade steel which can be exported. Foreign companies should be allowed to setup plants if the technology does not exist in India. But offcourse they should use the latest technology the way they would in their own countries and not dump old technology.

Infrastructure is what improves trade and brings in forex. There should be benefits and sops given to companies involved in R&D.

MNCs like Cola companies working in India also pay taxes and help with direct and indirect employment there by improving quality of living and increasing purchasing power.
HillMan is offline   Reply With Quote
Old 2nd September 2013, 13:28   #160
Distinguished - BHPian
 
vb-san's Avatar
 
Join Date: Feb 2010
Location: S'pore/Thrissur
Posts: 4,580
Thanked: 3,479 Times
Default Re: The Falling Indian Rupee

Quote:
Originally Posted by tsk1979 View Post
Like most things on FB, this post is also junk and written by someone who does not understand how basic economics work.
True! And what a way to save Indian Rupee
I actually scrolled up to re-check if I am reading a post from the jokes thread. And the long post/appeal is made on FaceBook – shouldn’t we avoid that as well (for being non-Indian)?
vb-san is offline   Reply With Quote
Old 2nd September 2013, 13:40   #161
Distinguished - BHPian
 
saket77's Avatar
 
Join Date: Dec 2012
Location: Ranchi
Posts: 3,074
Thanked: 3,667 Times
Default Re: The Falling Indian Rupee

Quote:
Originally Posted by vb-san View Post
And the long post/appeal is made on FaceBook – shouldn’t we avoid that as well (for being non-Indian)?
Nailed it!

I am doing my bit!
saket77 is offline   Reply With Quote
Old 2nd September 2013, 19:44   #162
BHPian
 
Parth46's Avatar
 
Join Date: Apr 2013
Location: Bangalore
Posts: 289
Thanked: 335 Times
Default Re: The Falling Indian Rupee

It's sad to see colleagues in office who have recently returned from the US actually cheering the rupee's fall so that they can sell in a few days and get a few bucks more for the max $500 that they might have scrimped to save. Short-sightedness at its worst, and actually a very sad thing to see.
Parth46 is offline   Reply With Quote
Old 2nd September 2013, 20:41   #163
NPV
Distinguished - BHPian
 
NPV's Avatar
 
Join Date: Oct 2009
Location: Namma Bengaluru
Posts: 4,589
Thanked: 4,291 Times
Default Re: The Falling Indian Rupee

It's Rs.66 to a USD! Any hopes on a path to recovery - measures like cutting gold imports, removing fuel subsidies ?

Should we alter the thread title, replacing "falling" with "fallen"
NPV is offline   Reply With Quote
Old 12th September 2013, 20:25   #164
BHPian
 
D'Artagnan's Avatar
 
Join Date: Aug 2011
Location: Bangalore
Posts: 261
Thanked: 126 Times
Default Re: The Falling Indian Rupee

Found this interesting video in TED. It shows how our system of belief that not taxing the rich will improve the economy because they are "job creators", this has been told by a rich entrepreneur himself.

http://www.youtube.com/watch?feature...&v=bBx2Y5HhplI
D'Artagnan is offline   Reply With Quote
Old 19th September 2013, 10:17   #165
BHPian
 
Join Date: Aug 2013
Location: Pune
Posts: 87
Thanked: 29 Times
Default Re: The Falling Indian Rupee

Well guys on a lighter note, let's express our relief on rupee bouncing back. I agree it's an out come of positive global events (and some RBI's steps) which have led to the rupee strengthening.

But yeah let's focus on the positive aspects in life for once rather only ranting on the negative part. Cheers.
somitra1981 is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
FIAT Petra 1.6 RPM falling down to ZERO deepgautam_qa Technical Stuff 26 24th July 2015 17:58
Falling stone cracks front windscreen Lukeskywalker Street Experiences 32 14th June 2012 14:26
Falling in love - AGAIN normally_crazy Shifting gears 27 16th July 2008 17:09
Is the Toyota legend falling? amit The International Automotive Scene 22 31st July 2006 08:49


All times are GMT +5.5. The time now is 03:00.

Copyright ©2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks