org/)
correct examples, just to give you a broad idea of what ails Indian economy) Ok here it goes..
production company.
But the electricity shuts down at random, for hours and days.
James: ok, Ill buy a diesel generator like every other industrialist in this area.
Again price of Diesel also increasing, Profit margin shrinking.
Adding insult to the injury, his workers have gone on strike. Workers are demanding pay-rise
because of the ever increasing prices of milk and petrol and James unable to settle the dispute
so a lengthy (and expensive) legal battle is drawn. Meanwhile the factory remains closed for
weeks and months together.
James: let me start a coffee house to pay lawyers fees.
soon IMF and world bank will give big financial aid to the ailing Greek and Portugal, and their
economies will be back on right track. If one invests money at this point, in stock market or realestate in those countries, he could get a handsome return of 40-50% a year.
Allen recalls a Bollywood movie he saw on youtube with English subtitles, the handicapped oldman in that movie had given a profound and universally applicable Management advice: Lohaa
Allen immediately runs to Forex market, with his bag full of dollars to get them converted into
Euro.
Finance Minister (FM): hey look at the bright side, although our imports become costlier but
now our exports will earn more money. It is Good for call-centres and textile exporters. And
then they use that money for buying items in Indian market = it will create more demand= more
jobs=boost in economy!!! Trickle down theory!!!
RBI: Wait a minute! Nobody is going to buy nothing under this high-inflation. So Whatever extraprofit the call centre owner makes thanks to this rupee devaluation, hell lock it in banks fixed
deposit or pension funds and hell wait and watch for the prices to go down before making any
big purchase. This trickle down theory isnt that linear and straight forward as youre thinking.
Back to the point, We need dollars to finance the crude oil import..
Finance Minister: No problem. Youve got more than 200 billion dollars Forex-reserve in your
custody. Release them in the market.
RBI Chief: Never. Im saving it for the rainy day. God forbid if situation gets even worse, wed
have our pockets totally empty. What if a war breaks out with Pakistan or China, how will we
purchase extra-oil for our fighter-jets and combat-tanks during that crisis, if our Forex reserve is
wasted like this?
Finance Minister: Damn it, if prices of petrol and diesel are increased because of this rupee
depreciation, the truck-transportation cost will increase and so will the prices of milk,eggs,fruits
and vegetables. Spider-mans Uncle Ben before his untimely death, had said With great
power comes great responsibilities and for great Pawar comes great slappings Please
man, do something, we need green dollars to finance the oil bills. Ive UP election to win.
RBI Chief: how about you stop MNREGA? That will stop a lot of corruption, black money
generation and the resultant inflation and price rise.
FM: Youre kidding, right? How am I supposed to win UP elections without MNREGA? Centrally
sponsored welfare scheme is the only Brand-USP of our party!
RBI: Ok how about disinvestment? Sell a part of your shares from SAIL, Coal India and other
public sector undertakings.
FM: Yes we can do that but wait Madam-ji and NAC (National advisory council) said the
disinvestment money is to go in National Investment fund from which itll be spent for more
schemes like MNREGA.
RBI: ok lets recover the 2G and CWG corruption money from Raja and Kalmadi then use it to
finance the oil-bill.
FM: lolz, come on man, be serious. Hey wait. how about you print 10 suitcases of rupees in
your printing press. Then I goto Forex market and get them converted into dollars.
RBI: Yes that could work. Only problem is that the guy how buys these suitcases from you in
exchange of dollars. He might come back, buy all the onions and potatos from our market
using same printed rupees and takes them to his home-country. That would lead to even
further inflation for there will be lesser produce left in our market.
FM: no no UP electionno more inflation.
RBI: Look I understand your constrains but I cant release dollars from my reserve. But How
about you arrange for dollars ..you know something like via FDI? How about 51% FDI in retail,
that ought to attract a lot foreign players with bags full of dollars, theyll get desperate to
convert it into rupees.
Finance Minister: hmminteresting.
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1. Online Form Part-I stops few days before deadline, so don't wait till last date. Dont forget
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2. I usually update vacancies every Monday.Purple link= newly added,Blue= existing.Last
updated Sept 07, at 9:21 PM
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