The latest and most frequently used word in the world is “Recession”. Anyone and everyone is talking about recession.

Almost all the companies have cut down on onsite travels, administrative cost and other perks. There are no more free lunches literally. Companies are introducing Performance Improvement Plans and giving zero hikes or bonuses. Everything has only one reason. RECESSION.

From a middle class citizen’s point of view, Restaurants have become expensive, shopping malls are empty, and food prices have gone up too. The fuel prices have gone down by almost Rs10 and still the auto guys crib for more money as it is recession time. Even the local vegetable vendor blames recession for increase in the prices. (I wonder why it is only the recession that is affecting the prices and why isn’t the falling inflation causing any price falls.) Everything is going up except my income and I too blame it on recession.

Is India really going through a recession or is it just the cold we have caught because USA sneezed? Are we just projecting a slowdown as a recession? Of course it has affected India because of the outsourcing and we too had job losses. But can we call it a recession still?

There is a difference between recession and slow down. The dictionary meaning of recession is two continuous quarters of negative growth where as during slowdown there is growth but it is slow. And who says India has negative growth? The RBI is still predicting a GDP growth of about 7%.

Our banking sector is still very strong and the interest rates are still high compared to other countries. We can still pass through this recession in US without getting into it.

Of course the government is trying to make things better by reducing the interest rates, announcing stimulus packages and various other measures to pump money into the market. We can be hopeful that the various stimulus packages being announced by the Indian as well as global governments will give a boost to sectors like infrastructure, automobile, cement and metals. This will increase the business and also the ‘recession free’ politics ‘industry’ is ready to infuse money in the name of general election and that should be a boost to the economy as well.

Apart from all this we also have some responsibilities t improve the situation. We need to use our resources effectively and at the same time focus on innovation.

Recession forces people to spend less and save more for adverse situations but we Indians are not new to the idea of savings. We just need to chuck the extra credit card spending, check our expenses, promote the right things and viola we’ll be on our way out of this crazy situation. Being thrifty will surely help us get out of this slowdown earlier than others.

This is the time to capitalize on things which we are good at. Tourism is going to be hit because of global recession (obviously there will be less number of people visiting the Taj Mahal this year) but we can promote health tourism which is still a cheaper option in India with best of services available at cheaper prices compared to USA or Europe.

Agriculture is still the backbone of our economy. Let us make that stronger. We need to get the farmers back to the fields and the higher dollar value can get us more money for our agriculture exports.

Instead of worrying about losing outsourcing jobs we can start innovating our products. IT industry which has been worst hit due to dependency on US can start focusing more on product innovation and less on services. Once the situation improves we’ll be less dependent on US plus we can be a major player too rather than just being the back office of the world.

Remember how India tackled the bans that were imposed by the world especially US after the nuclear tests. We became almost self sufficient in the things that were banned by other countries.

When the next boom comes, we can reap the benefits of effective resource utilization and innovation and be ahead of other economies. We surely have the talent and means to get out this slowdown without slipping into recession.

I strongly feel this economic condition is just a wake up call for us to be more responsible and more cautious and to realize our abilities to drive away the recession blues. Jaago Re!

Popularity: 35%

Since childhood I never cherished any dreams of going abroad, instead always wanted to live in India. My search for a livelihood, like any other person, just out of the college, changed my perceptions on going abroad. It was in the year 2002 that the doors to a foreign nation had opened for me. My first pay made my eyes pop out (upon converting the currency, of course)

I also realized that with a white collar job in a foreign land one could earn quickly and pay off debts easily. My initial goal was just to stay for one year, amass some wealth and go back to India. As time passed, my ambitions started changing year after year and I started spreading my roots deeper into this foreign soil thus making my position much stronger.

Until you fly abroad you find life very nice and comfortable in the way you live, but once you get a taste of life abroad– you are out of that “frog in a well” situation and find it more interesting than ever.

As I introspect, I keep wondering if I will ever go back. One side pulls me towards my country of origin while the other side is so accustomed to western life style, it holds me back. A Catch-22 situation!

Returning to country indeed is a major decision, perhaps even tougher than to go abroad. There is no right or wrong here. After spending a few years abroad, we aim for “best of both worlds” which is difficult to find, in real life.

On one hand you have these factors compelling you to stay back abroad-

Value for money – Every penny earned is valuable abroad. In India a 100-rupee denomination is becoming almost worthless these days.

Free Life Style – You do not have any close relatives or neighbors pestering you with questions that are more personal in nature. Personal space is respected abroad more than in India.

Substantial Income - Similar effort put in a foreign country pays you 40x or 80x to what one gets in India. Once you get that taste of money, it’s hard to wean away from it.

Work culture – No slogging and no late hour work culture (to impress your bosses )

Value for Life – Life is valued far higher than anything else. The quality of life we lead is definitely better than that of India.

On the other hand there is a long list of good things back home in India that would tempt you to go home – people, relations, parents, food, cost of living, education, entertainment, advance medical treatments, growing economy, opportunities, weather, culture and of course, our roots.

I am convinced that all the Indians who are abroad are Non Returning Indians.

You may have a different opinion, but 8 out of 10 people who are abroad have firm plans to settle down there. They might not agree on the face of it, but their materialistic desires will force them to settle down. Will this ever change? May be….may be not.

Our growing economy could change this dimension and trigger a reverse brain drain. For now, we may have to just wait and watch.

Image Credit: Wonker

Popularity: 25%

They say it all started after 09/11,
When they were looking for a diversion;
In an attempt to boost the economy,
Lenders started opening up some money!

As the markets were looking for ways to expand,
The housing sector seemed primed for demand;
Construction industry soon became hot,
And they took over every vacant lot!

With all the money being made available,
The bigger house suddenly seemed more affordable;
Jack went to the bank with his honey,
They came back home with double the money!

Everything seemed hunky dory,
For every house had more than one storey;
It was good while it lasted,
For very soon, the problems started!

Jack couldn’t keep up with his monthly payment,
The banks started realizing their predicament;
Supply started exceeding the demand,
New home prices started reflecting this stand!

As price corrections started to happen,
Home ownership started to dampen;
The existing buyers owed more than they owned,
Per the sub-prime term, it was equal to being drowned!

Everyone started to realize their folly,
Suddenly it wasn’t as easy to obtain a lolly;
It seemed simple enough for all to benefit,
But it will take a lot more to get out of it!

Image Credit: Woodley Wonderworks

Popularity: 18%

It’s probably the season of scams! There was this whole financial crisis and then came Madoff, not too far away from his heels came Stanford. The reactions to the Stanford scandal were probably much more muted when compared to the intensity with which the media covered the others – maybe they lost steam, or maybe they were left wondering yea, here’s another one and I don’t know how many more!

In a bid to match the IPL dollar for dollar, Stanford had staged a T20 series recently in the West Indies – albeit with just 2 national teams. The hosts were joined by the Englishmen who looked at this as an opportunity to lick their wounds, having missed out on a chance to play the IPL. The money was big and the Englishmen were simply raving about this. I recall how some of them even went to the extent of saying this could probably upstage the IPL over time!

Probably the most interesting reaction to the latest Stanford scandal to my mind came from KP – Kevin Pieterson, the former England skipper and the IPL’s latest million dollar baby! He called Stanford a “sleazebag”.

Funny are the ways of the world they say – look how things can change in a span of around 6 months. From raving about Stanford to letting him have a ball with the WAGs, while the game was on, the English cricketers would do anything for the money that Stanford got to their lives! With Stanford being exposed, these guys seem to be on the run for cover and hence come yet another English word – the Sleazebag! For me, this is like the kettle calling the teapot black!

I’m not for a moment trying to say that Stanford was a saint. His lure for money was very similar to the one that most of us have. Have we ever stopped to wonder if there was anything in this world called enough money? I recall a conversation I had about 5 yrs ago with an old boss of mine. I told him that I’d retire if I had 10 million Indian bucks! He broke out laughing saying I was nuts. My vice for betting took me to the extent of saying, let’s have a bet – I don’t know if it is good sense or his words – I didn’t and I am so glad!

Those were early days in my career, more specifically in my stint in compensation. Like most people, I used to compare my compensation numbers with the other numbers on the payroll and say, yes, this is the number that I need. As I started to spend more time in that area, I started becoming numb to numbers and have realized that there is nothing in this world called enough money! What’s enough today is not enough tomorrow – Literally!!!

We all do different things to make some money – some of us hop jobs, some of us turn into becoming punters, we leverage investments in real estate, short sell and the list if just endless. To my mind, the fact that there are so many complicated financial instruments means that the world is no different from the way most people think. We all need money and are willing to do anything to make it – logical, illogical, high risk – whatever (except illegal!) A lesson I learnt early on in life is on the trade off of Risk Vs Reward. The higher the risk, the higher the reward. There are several parallels to this, the closest being, the fall from a great height leaves you hurt the most!

People calling the grapes sour when they realized they lost out is insane to me – you walked in for the lure, so why make a fuss of it when you lost? If you were so much the saint that you think you are, get off your morale high ground and just stick to playing for your country – why sign up for the million and a half bucks? Isn’t this greed?

The bottom line is the fact that there is greed. With greed, there will be issues. Be prepared to deal with them, else get set to walk off to the Himalayas! I’m staying where I am – where are you?

Image Credit: D Borman

Popularity: 15%

I had picked up this book 2 years back at the annual Strand book festival, and got to read it now. Tarun Tejpal is someone I had a curiosity to read. The first sentence of the book, made me raise an eye brow and doubt what was in the offering. First 150 pages or so, I was lost and now after completing the book, I think that part of the book could have been shortened. It was repetition of unnamed protagonist’s obsession with his wife and her body, and his inability to think beyond her.

But after about 200 pages the story picks up and that is when you find it difficult to keep the book down. The story travels from one plane to another, from one era to another, from one continent to another, from emotions to reality, from curiosity to mystery and finally lands up with truth.

Author has divided the book in five parts: Prema or love, Karma or action, Artha or money, Kama or desire, Satya or truth. And the chapters pretty much revolve around these broader themes.

It is a story of a writer, who makes several attempts at writing a great novel, but finally lives through one and realizes that you have to live a story to be able to tell it. By some stroke of destiny, he buys a house in lower Himalayas, and the house has a mysterious history and a story that no one is willing to tell. The author gets obsessed by his desire to unearth the story so much that he looses interest in his original obsession, his wife. Finally after following the story and my joining all the facts that he collects from all possible people, he feels a sense of relief and that is when he goes back in search of his wife, content that he, at last has a story.

The story has been woven very intricately by the author, it keeps moving back and forth in time and space. The descriptions of the places, events and people are excellent. I could specifically relate to it as half the story is set in the city that I grew up in and the author describes the city from all angles, including calling it a city with no past and no visible future. He talks about the city in such a way that you can almost smell the city and feel it. He describes the emotions also with equal ease, and you can feel what the protagonist is going through. He describes his house in Himalayas, and the visuals from its various angles in such a way that you can visualize the whole valley. He describes people in such a way that you would think of someone that resembles the character.

The story touches all the aspects that touch a usual human life-childhood, politics, history, mystery, relationships, love, lust, famous and common people, chance encounters, weird people and events, cross cultures, religion, lack and abundance of money, free spirits, traditional living etc. All this is neatly woven together in a web that may entangle you.

You would enjoy reading this intense and bold story, which is definitely different and original, especially if you are an intense person and like to lead an adventurous life.

Credit: Anuradha Goyal

Popularity: 20%

It’s back to basics – so it seems. The ” good old days” – days when firms would simply throw money to retain people, Compensation Managers were given marching orders to “do what it takes” to retain talent and in the bargain delivered top dollar increases and fancy variable pays, when counter offers was the need of the hour and kept compensation managers on their toes -

This all seems to be a passe!

With global recession tightening it’s grip around us and with nightmares like the 50B US$ fund run by Bernaud Madoff coming to light, analysts say this is the tip of the iceberg!

I wish it isn’t because what we have been through over the last few months has been more than what we can take. Unfortunately, my wish isnt going to come trough and this will last a few more months – the damage, unraveling like a ravaging hurricane, the magnitude of which will be know only when the storm passes!

While we duck for cover and realize that umbrellas are not enough to weather this storm, compensation managers are going through a pretty different and unique year end / compensation planning process. Quite a few firms that I know, both big and small have said they don’t plan to do merit raises this year – some of the other players are even taking a call on doing away with variable pay plans, not to mention the scary issue of headcount reduction.

So what does the employee feel?

Well – at least some of my experiences tell me that the real world is living in an ivory tower. I’ve had a few folks walk by to me and say, “Can you tell me how much increase I am going to get ? “, “I want to know the “exact” percentage of my bonus!” and I am stumped for words!!!!

It’s sad that a majority of the work force thinks that this is a passing cloud. I can’t blame their ignorance because they probably don’t understand the magnitude of what we are contending with today. But as someone who reasonably understands the situation, I can tell you one thing – the good old days are gone forever and will never ever return.

Hold on! I’m not a pessimist. I am an eternal optimist!!! I’m not predicting doomsday for a second. The point that I am trying to make is that corporates are learning lessons and learning them hard and fast – mistakes teach us a lot and this one is no different.

This too shall pass say some – Yes!.. This too will, because we can’t expect to see things never improve. They will and they better.. Just that the new world order has arrived and when things get back to normal – it’s back to the days of our parents, days when value propositions will be driven by learning and growth opportunities, loyalty to firms having some value and of course, compensation being at the bottom of the stack..

Good bye good old days, welcome to the new world order!!! – if your firms want to survive!

Image Credit: Luismi1985

Popularity: 20%

On Sunday the Government released a statement saying, Public sector banks will shortly announce a package for borrowers for home loans in two categories — for loans of up to Rs 5 lakhs and Rs 5-20 lakhs  The housing sector has been in trouble in the last 6 months with very few takers for houses.

With this bailout package, the government is going to subsidize the banks providing housing finance.  I believe, instead of doing this, it should try to control the price set by the builders. 

Tell me in which Indian city will you get a flat for 5 to 10 lakhs?  It is not possible in Tier I and Tier II cities.  Or only those who have 15 to 20 lakhs cash in hand will benefit from this package.  If you take a look at the top cities in India, the real estate prices are ridiculous. In cities like Hyderabad, it is almost impossible to find a flat which is less than 30 lakhs.  If you want a flat in the city or near the city it will not cost you less than 50 lakhs.

No government employee will ever earn more than 50,000 rupees a month and 90 % of private sector employees earn less than 25,000 rupees a month.  These people would never be able to buy their dream houses if flats are available only at such astronomical prices.

Have you ever tried to calculate the cost of construction?  I know a couple of builders and I got these figures from them.  For a super deluxe flat, for a square foot, cost of construction (including the land price) will be between Rs 800 to Rs 1400.  This might vary a bit depending on the land cost.  So if an sft is costing Rs 1400, have you ever seen builders selling it for 1600 or 1800?  They will never sell it below Rs 2500. They almost make 100 % profit.

Also remember that the prices of steel and cement have come down but flat prices wouldn’t come down in the last 6 months.

If government really cares for middle class people, they should set a cap on the profits made by realtors.  Like cement and sugar, regulate the prices of houses.  Ask the builder to provide the cost of construction and allow him to make a maximum of 30% on construction cost.

Providing cheap loans to people for buying houses is a failed American policy. 

The government is encouraging realtors to keep their high margins and using the tax money to subsidize loans.  I urge the Government to increase the affordability of houses.  In all the metros there should be at least 30 to 40 % reduction in the prices of houses and apartments.

Right now the sentiment is low and reality sector is under correction.  Please allow the correction so that it can regain its health. A correction in these overhyped cities will eventually bring down the prices.  Don’t coerce it to gain artificial health by spending tons of people’s money.  If people don’t buy flats for another 6 months, and we can see the prices drop by 30 to 40%.

In the last few years, people panicked and purchased houses, as they thought the property prices might further increase.  But what people forgot or didn’t notice is that in any economy nothing can keep increasing for ever.  It took a big crisis (subprime) in a big economy (America) to prove it.  Not just the people but even banks missed this simple truth and got into trouble.

We the people of India should understand how the economy works and make wise decisions while a buying house. 

So whom is this policy going to benefit?  Definitely not the people in Metros and Tier I cities. It will benefit Tier II and Tier III cities.  Our infrastructure is not able to handle the current growth. Cities like Mumbai, Bangalore and Hyderabad have become costly. This will force builders, IT, manufacturing, and other investors to invest in tier II & III cities.  People in these cities will start investing in Houses. 

This is the only solution to offer a competitive price to the world for our product and services.

I hope one day we will have a world class infrastructure like US or Europe.

Image Credit: Kevindooley

Popularity: 22%

Diversifying a portfolio means, deciding on how to divide the money available for investment between various investment options like shares, bonds, fixed deposits, Mutual funds, fixed property, gold and cash to be retained in hand.

In your personal investment plan try to ensure that there is adequate diversity. A clever investor will never put all his money in one type of investment. Let’s see why we should diversify our portfolio.

Main reason for a well diversified reason is mitigation of risk.

You can even add insurance to this list. But it’s slightly a different investment option in the sense its benefits are not available to you but to your dependants.

Once you have arrived at the money available for investment, it’s important to decide the ratio to be invested in different investment options. Before investing it’s important to know the amount of risk and return associated with each investment option.

Time is Money:

If you think of making money in a very short span it’s not possible with any type of investment option. Every investment needs certain time to generate returns. Before deciding on an investment option we need to be clear about how long we can hold that investment and what would be the approximate return. You must be clear as to go for capital appreciation or a short term return or a combination of both.

For example, if we remain invested for long term in stocks and fixed assets like a house, there are very few chances of incurring losses. Long term means you should keep the investment for at least 5 to 10 years.

History tells that those who have invested in stock market for 10 years have maximum lost 1.5 % of their investment.

So longer the duration lesser the chances of losses. There is also scope for making tons of money. Those who have invested money in stocks and real estate or gold between 2003 and 2007 have made tons of money.

Every investment has a cycle and it repeats. It’s very important to identify the right type of investment that has started churning money.

We can see that in the last 6 months, stocks are out and bonds are the preferred choice of investment.

• If your goal is long term, invest in stocks and real estate, this is the right time to buy as the valuations are very attractive. Though we can’t exactly say the % of appreciation, it will definitely yield good returns for long term investors.
• If your goal is short term, invest in fixed deposits or government bonds.
• It’s also very important to decide on the timing of the investment. Early birds will always make maximum money. When everyone is making money, realize that some will soon start loosing. Don’t buy when the market is at the peak. It’s very important to time the market.
• Finally ensure that you always have some cash in hand to attend to any emergency or to put in any attractive investment option that presents itself before you.

Finally remember that risk and return coexist in any kind of investment option and it’s always possible to lose money in any form of investment. Now the question you should ask yourself is “How much loss will I be able to bear?”

If you are not in a position to take more risk, put more of your money in FDs and Bonds and minimum in stocks. If you are capable of taking more risk, put more of your money in Equities and Real estate and very little in FD or Bonds. Those who have household responsibilities or those who are paying quite a bit of their money as interest towards loans should always be careful about the kind of investments they make.

Here is a small principle for dividing your funds amongst various investment options.

Reduce your age from 100 and what ever is the number you arrive at, you can put that much of money in high risk – high return investments.

For example, if your age is 30, you can put 70% of your money in high risk/high return assets and 30% in low risk – low return assets. As your hair starts turning grey, reduce your exposure towards equity, and increase it towards debt securities.

Image Credit: SMN

Popularity: 22%

If you invest in tax saving schemes right now, you can get your money back early. For example: If you have planned to invest in Fixed Deposit which can’t be withdrawn for 5 years, if you deposit today you will get your money back in 2013 December and you can use this money for tax investment again. Where as if you save it in March, you will get it back only in 2014 March and you will have to again go in search of cash.

Most of us spend all the cash in hand all through the year and try to find some cash in March. If we don’t find cash in March then your tax plan will go wrong.

Some people are of the opinion that even if I save on 31st March it will still come under this financial year, but this is not clever thing if you are trying to invest in Tax Saving Equity linked funds (ELSS) or Public Provident Fund. You will stand to loose 4 months of interest free income.

Some of us will wait till the year end to submit the medical bills or bills of books purchased for research etc. There is a chance of bills getting lost. It’s better to submit these bills every month to the concerned department in your office.

What about the investments I have made in the financial year ?

Before making any tax saving investments, it is always better to review the investments you have already made in the current financial year. In case you have made investments through Systematic investment planning (SIP), or already contributed to PPF, add all the amounts and plan for the remaining amount.

Get your calculations right:

• For employees there is PPF and it will anyway come under Section 80C. Some employees also would have taken health insurance, life insurance, or group insurance policy. First calculate the amount you have already paid towards premium.
• For those who have taken home loan, calculate the EMI you have paid for all the months. See the interest and principal component in that. You can get the principal paid on the loan exempt under Section 80C. You can claim exemption on interest up to 1.5 Lakh per annum.
• Also take into consideration, the tuition fee you have paid for your kids (allowed only for 2 kids).
• Take into consideration all the above and then decide on the amount for which you have to do tax planning.

• After all your tax planning is done if you are falling under 10% tax bracket and tax payable is not less than two to three thousand, it’s better to pay the tax instead of making investments only for saving these two or three thousands.
• Accounts folks in your office would have already informed you the amount of tax payable. Once you have calculated the amount invested so far, return from the amount invested, and the amount to be invested, all that you need to decide is to where to invest.
• If you don’t have the appetite to take risk invest in National Savings Certificates and Bank Fixed Deposits and if you are planning to invest for long term, put your money in Public Provident Fund.
• If you have the ability to bear risk, invest in Tax Saving Funds or ULIPs.

Instead of investing your money at once, it’s better to choose SIP and invest in 5 equal installments.

Image Credit: Kevin

Popularity: 26%

Whole world is reeling under economic crisis. Growth rate of countries is slowing down. While some sectors have lost heavily, other sectors have revised their targets. Amidst all this turmoil, there is one industry that is making profits and guess what this could be?

It’s the epicenter of the financial tsunami-It’s the banking industry… The very cause of the turmoil in the world is now making money in India.

Is it the strict regulation of RBI or the traditional way of running the business that has helped the banks to be in profit ? Or is it the foresight of Indian banking system that has ensured that domestic banks are not heavily exposed to the credit derivatives like US banks ? The fact is that the Indian banks have not incurred huge losses unlike their counterparts in the US and rest of the world.

Banks which faced pressure on their margins till a couple of months back are now on their way to making money. With the RBI’s initiative to increase liquidity in the system, banks got huge amounts at their disposal for lending. Even the money that was lying with RBI and yielded very little profit is now available for banks for lending at higher rates. Banks are lending at higher than PLR to corporates due to the changes in circumstances and all these are helping banks to boost their bottom line.

Quite a few factors have contributed to the profit margin of banks:

1. Reserve Bank of India has cut CRR by 3.5 % and brought it down to 5.5%
2. It has cut the repo rate by 1.5 % and got it to 7.5%
3. RBI cut the SLR by 1% and got it to 24%.
4. Banks used to lend to companies at below BPLR but now they are lending at higher than BPLR as the risk profile has increased due to the hit on the margins of the companies.
5. Banks used to shell higher deposit rates. But with the markets falling, people are finding deposits as a safe place to park their money and banks have cut down the deposit rate.

All these have increased the profit margin of the banks by 3%.

While all sectors of the economy are facing the heat of economic meltdown, it is surprising to see that our domestic banks are really making money.

Banking in India has been indeed a blessing in disguise. What do you think ?

Popularity: 20%

I often wonder when I read about the bailout packages dished out by Governments all around the world to aid banks and other financial institutions that are on the verge of bankruptcy especially the amount of money spent in bailouts in last couple of months is staggering. I am even surprised that there was not a single protest from anywhere and these financial criminals go unpunished. It is the common man who is going to bear the burden of additional tax and increased debt.

Why should tax payer’s money be used for bailing out greedy banks and corporations that have done business only with profit as motive and no concern for morals or ethics and absolutely no concern for the consequences for their acts. Putting public money in corporate coffers is just not acceptable. Financial crisis that has happened is a man made crisis done through substandard policies, deregulation and greed. I can understand putting in public money for natural disasters like earthquakes or folds. Governments all over the world have spent trillions of dollars on bailouts already

This kind of bailout is ABSURD!

We must collectively protest this .This is real money, my money, your money, our money which is hard earned paid in the form of tax.

Why should banks and financial institutions which never cared about the creditworthiness of people who lined up for loans or the soundness of derivatives business be rewarded. We should not allow government to write checks on tax payers’ account. This measure will increase the budget deficit by a significant amount, with no guarantee of recovering the amount and not holding anyone accountable for the misdeeds they have done.

What is the signal you are sending to the corporate world and investors through these bail outs? Do your businesses as you like and we will reward you for the blind errors you might commit. Is this the right way?

As far as I am concerned, there should be a thorough probe into the events that have led to this disaster and every CEO, Executive or Government who were part of this financial carnage should be jailed, their assets sold and put in a bailout fund.

It is time to wake up and realize that greed is the basis for all the financial disasters and find a way, may be strict disclosure norms, increasing the transparency in strategic decision making, making one responsible for his actions and

Few weeks back Finance Ministers of several Asian, Europe and Americas countries met and decided to act rapidly on the financial crisis

And now stock markets are being artificially manipulated by bailouts by governments.

When corporations see that the demand is coming down , it is natural for the stock to take a beating. But every other day we see CRR, SLR rate cuts which means our money is loaned back to us and the market stages a rally of any significance. FIIs and Badla traders slowly and routinely remove their money from our markets to invest elsewhere leaving the retail investor in a fix.

It is certainly not a good thing for a responsible, saving, taxpaying citizen, with no defaulted loans or credit card debt to compensate for the that Wall Street gamblers will go bust on their stupid and greedy bets, over-leveraged and poorly managed businesses with huge losses.

Let me tell you some interesting fact. Lehman has set aside $2.5 billion as bonus for their employees even as they went bankrupt for the great performance they showed in pushing the bank to bankruptcy.

What do you call this?

Popularity: 31%

I am starting this series on Driver Licencing in India with an objective that someone in the central or state government transport ministry will read this and make use of the free recommendations given. That might be too much to expect but that is what I am going with. If it really happens, I will be on Cloud 9. If not, it doesn’t matter – at least I will go with the satisfaction that I have made an effort , expressed my concerns and put my view points across in a  simple and straight forward manner.

Why am I writing this series ?…

• I recently read about Sanjeev Nanda and his escapades with the Indian judiciary system – the imbroglio involving defense counsel R K Anand and the public prosecutor.
• I had a friend who passed away a couple of years ago in an accident
• Having lived in different parts of the world now I am in a position to criticize how pathetic our transportation system in India is and that no one is doing anything to improve the situation
• I am concerned with the growing number of Indians who die every year due to road accidents
• I am concerned that the government is not doing its due diligence in overcoming this menace
• I love my people and I don’t want to see any of them die young
• I want my children to grow in a safer and more secured environment where there is respect for the law of the land
• I do not want money and power to dictate who will survive and who will perish

In short, I want this road menace to end. Period.

If you don’t like what I write, please feel free to give your critical feedback. If you do like what I write, even then leave your feedback. I will definitely take a look at them impartially and incorporate wherever applicable.

Lets start the journey. Speak to you in the next article.

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