General Trading Chat
- Thread starter timepass
- Start date
- Tags idle thoughts trading talk only
Well, the media adulation is what's different between then and now.... The previous Congress/UPA govt. was hounded by the media... and rightly so. The media did it's role in exposing the corruption of the UPA, and the public voted them out of power... It is in the country's interest that the media does the job of criticising the govt. when required and not glorify it... but it does not seem to be the case (though perceptions vary) For the good of the country we need independent media, judiciary and executive... not a pliant one... In the same vein, RR being pressured to quit is due to short sightedness and not in our long term interest.....
I am not suggesting we shdnt protest if something goes wrong we can in this way get the govt to do correct things.
I thght the responsibility of job creation and country growth is with the centre and rajan is there to help the govt.
If things go wrong we all will catch of course not rajan but the govt. So i thgt the govt shd have the man they need and be responsible for inflation, investments and so on. I also think modi is trying to get FDI in india and working to create jobs. He shd have the man he needs and give him sometime.
Offcourse my view. ....
I thght the responsibility of job creation and country growth is with the centre and rajan is there to help the govt.
If things go wrong we all will catch of course not rajan but the govt. So i thgt the govt shd have the man they need and be responsible for inflation, investments and so on. I also think modi is trying to get FDI in india and working to create jobs. He shd have the man he needs and give him sometime.
Offcourse my view. ....
Last edited:
Lemondew,
Just sharing what I read on the subject written by Balaji Vishwanathan from Quora. It is an interesting read.... (edited excerpt)
https://www.quora.com
"There were sparks publicly flying between RBI and the government for a while and this end result was probably not a total surprise. RBI and the government are two opposite forces [sort of like developers and testers in a software team] who work to build the economy.
The government has the control of the “fiscal policy” - dealing with matters like spending and taxing. The reserve bank has the control of the “monetary policy” - dealing with matters like interest rates and bank loans. Governments would typically love to spend/invest a lot to grow the economy, while the RBI would love to have the government spend less & maintain a low inflation [more government spending equals more inflation].
In short, the government is the accelerator and the Reserve Bank is the brake. If you don’t press the accelerator, you won’t get anywhere. If you don’t press the brake, you will get somewhere [not necessarily alive]. There is a healthy conflict between the two.
***
These two things cost his job. a) He was an inflation hawk whom the government and business community accuse as pressing the brakes too much. b) He had too much energy and independent thinking.
The question is not just one of Rajan or inflation or interest rates. It is about a system where the heads of key institutions are not expected to stay independent. This political meddling has been there since the start [from the times of Nehru]. We always elect old, unambitious, insipid, uncontroversial leaders for our top posts because the top politicians are scared of ambition, energy and independence. In the rare times these get selected, the politicians push them out sooner or later.
Even if the government doesn’t like their ideas or policies, it has to work with them - because our system is only as strong as its institutions....
Just sharing what I read on the subject written by Balaji Vishwanathan from Quora. It is an interesting read.... (edited excerpt)
https://www.quora.com
"There were sparks publicly flying between RBI and the government for a while and this end result was probably not a total surprise. RBI and the government are two opposite forces [sort of like developers and testers in a software team] who work to build the economy.
The government has the control of the “fiscal policy” - dealing with matters like spending and taxing. The reserve bank has the control of the “monetary policy” - dealing with matters like interest rates and bank loans. Governments would typically love to spend/invest a lot to grow the economy, while the RBI would love to have the government spend less & maintain a low inflation [more government spending equals more inflation].
In short, the government is the accelerator and the Reserve Bank is the brake. If you don’t press the accelerator, you won’t get anywhere. If you don’t press the brake, you will get somewhere [not necessarily alive]. There is a healthy conflict between the two.
***
These two things cost his job. a) He was an inflation hawk whom the government and business community accuse as pressing the brakes too much. b) He had too much energy and independent thinking.
The question is not just one of Rajan or inflation or interest rates. It is about a system where the heads of key institutions are not expected to stay independent. This political meddling has been there since the start [from the times of Nehru]. We always elect old, unambitious, insipid, uncontroversial leaders for our top posts because the top politicians are scared of ambition, energy and independence. In the rare times these get selected, the politicians push them out sooner or later.
Even if the government doesn’t like their ideas or policies, it has to work with them - because our system is only as strong as its institutions....
Subramanian Swamy says Income Tax can be abolished in 1 week (or within 3 years) – find out how
Outspoken Bharatiya Janata Party (BJP) MP Subramanian Swamy, in a speech at the Indian Merchants’ Chamber on Thursday, said he will abolish income tax in the next three years.
“If I am a part of the government, I could do it in 7 days. Since I am outside, I will abolish income tax completely over the next three years,” Mr. Swamy said. “The corrupt income tax system should be scrapped.”
Finance Minister Arun Jaitley did not use this method because he, being a lawyer, was “sensitive” to the rights of those who have kept black money abroad, Swamy said at an event here.
http://zeenews.india.com/news/india...k-or-within-3-years-find-out-how_1896882.html
http://www.thehindu.com/news/cities...-in-three-years-says-swamy/article8739787.ece
http://indianexpress.com/article/in...ax-increase-savings-rate-push-growth-2857330/
Outspoken Bharatiya Janata Party (BJP) MP Subramanian Swamy, in a speech at the Indian Merchants’ Chamber on Thursday, said he will abolish income tax in the next three years.
“If I am a part of the government, I could do it in 7 days. Since I am outside, I will abolish income tax completely over the next three years,” Mr. Swamy said. “The corrupt income tax system should be scrapped.”
Finance Minister Arun Jaitley did not use this method because he, being a lawyer, was “sensitive” to the rights of those who have kept black money abroad, Swamy said at an event here.
http://zeenews.india.com/news/india...k-or-within-3-years-find-out-how_1896882.html
http://www.thehindu.com/news/cities...-in-three-years-says-swamy/article8739787.ece
http://indianexpress.com/article/in...ax-increase-savings-rate-push-growth-2857330/
PareshR,
I have more trust in Modi's promise of depositing Rs. 15 lacs into our bank account as said after recovering black money than Subramaniam Swamy's promise of abolishing Income Tax. Hope springs eternal.... politicians know, there's nothing to loose in making promises, public is gullible and want to believe.... as after sometime, people will forget what was said earlier when they hear a bigger, better and a brighter promise of more money sometime in the future after the election is over.... :lol: BTW, it is an old Congress trick.
I have more trust in Modi's promise of depositing Rs. 15 lacs into our bank account as said after recovering black money than Subramaniam Swamy's promise of abolishing Income Tax. Hope springs eternal.... politicians know, there's nothing to loose in making promises, public is gullible and want to believe.... as after sometime, people will forget what was said earlier when they hear a bigger, better and a brighter promise of more money sometime in the future after the election is over.... :lol: BTW, it is an old Congress trick.
Similar threads
-
My Views on the General Elections 2024
- Started by Verde
- Replies: 21
-
-
What are some general and basic price-volume action pattern one should know?
- Started by shyttrader
- Replies: 1
-
-