Fifty years ago, on 19 July 1969, the Indira Gandhi government had nationalised 14 banks. Even today, PSUs control a substantial percentage of the deposits.
The economy is showing steady expansion, with the IMF forecasting growth of 7.3 per cent in the fiscal year through March 2019 and 7.5 per cent in the next.
Despite the depreciation of the rupee, India continues to be a magnet — safer than peers like Turkey, South Africa or Brazil, and offers greater returns than the US or Europe.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
India exited the Indo-Russian FGFA programme in 2018. But now it might procure at least 2 squadrons of Su-57 aircraft from Russia and evaluate Russian proposal to manufacture them in India.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
The youngsters are sure borrowing and spending as you say, Ramya ji, but not much on durables but on consumables like Alcohol. Affluent Kerala is an ideal example. 400-plus crores spent on liquor a single day, to celebrate Onam festival !
Personally I am not comfortable with this borrow to spend culture. Several countries have racked up huge household debt. In the US, student loans are about $ 1.5 trillion and a lot will turn bad. Even in today’s changed culture, what would get my vote is a young couple taking a loan to buy an apartment – ready possession, no longer under construction or planning – and perhaps a car. Cutting rates to induce people to borrow more has never restored any economy to health. For ten years, Count Draghi has kep rates ultra low and Europe is still growing at an anaemic one per cent.
Alcoholic and pot headed millennials prefer cabs and not personal cars.
The youngsters are sure borrowing and spending as you say, Ramya ji, but not much on durables but on consumables like Alcohol. Affluent Kerala is an ideal example. 400-plus crores spent on liquor a single day, to celebrate Onam festival !
Personally I am not comfortable with this borrow to spend culture. Several countries have racked up huge household debt. In the US, student loans are about $ 1.5 trillion and a lot will turn bad. Even in today’s changed culture, what would get my vote is a young couple taking a loan to buy an apartment – ready possession, no longer under construction or planning – and perhaps a car. Cutting rates to induce people to borrow more has never restored any economy to health. For ten years, Count Draghi has kep rates ultra low and Europe is still growing at an anaemic one per cent.