Where this country is heading - do you have any hope ?

how to survive and have a respectable life in this country?

  • Not Possible

    Votes: 27 48.2%

  • OP is Antinational

    Votes: 4 7.1%

  • OP has black money in Swiss bank

    Votes: 7 12.5%

  • what is respect? What is life? Pay taxes & just Pay Taxex, make india Sooperpawa in 2020.

    Votes: 18 32.1%
  • Total voters
    56
Lord Nemesis said:
https://m.timesofindia.com/india/pi...-the-first-place/amp_articleshow/67984337.cms
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CAG report exonerates the govt of any scam. Bottom line!

Now that opposition cannot show scam after supreme court & CAG junked the premise question being asked is whether it was the right aircraft. Too late. The decision was made in 2012 after a ten year long bidding process with testing by the airforce. They chose Rafale. That is their job not CAG's. Enemy does not care about procedures, enemy is only concerned about capability. So it was the correct aircraft to go with. End of story.


As usual, top deck panelists for the subject.

Interesting to hear the marshall who led the negotiation conclude this is the work of the competition. Because if you can get the Rafale eliminated then it means the other competitors have a chance.

Well, they have lost their chance of getting the remainder of the 114 aircraft deal and for good :)

This is what i was talking about when i mentioned arms lobbies. These people are loaded and fund all sorts of disinformation campaigns. The opposition chose to participate because it served their narrow purpose. Hope they got some money for their trouble. Elections aren't cheap and every party needs funds.

Abbhi brings up a couple of important points. Any arms deals with the Russians are default G to G as the Russian arms industry is state owned. Same applies with the US via a different way, the US has something called FMS (foreign military sales).
 
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rdst_1 said:
Don't worry mate. I am not someone who won't keep harping his own trumpet in front of facts and justifiable arguments.
I read some more articles and it seems that the Essar group didn't want to let go of their steel business. Even during IBC, they were saying that they are willing to pay off the entire debt of 54k crores. So, they did have the money, or get the money in time, and wanted to pay off the lenders and hold on to their business. That's why they even went to the length of forming NuMetal group. But, then the bone of contention is that they had to be jolted into doing that by the NCLT by initiating IBS proceedings. Until then, they were comfortable into being labeled as wilful defaulters and not fulfilling their payment responsibilities. I got this information from this article - https://www.newsclick.in/essar-group-fudging-insolvency-and-bankruptcy-code-process
Let me know if their findings and opinions are right or not.

But, I don't believe that crony capitalism is not existant in India. My dad used to work at IDBI Bank, including loan recovery dept. So I remember, how livid he used to be at his seniors for not doing the needful in time and letting NPAs turn bigger and bigger when they could have nipped those problems and their exposures in the bud. In fact, Mr. BK Batra, ex-MD of IDBI, who got charged in the Kingfisher case, used to be one of our neighbours and I remember my Dad using the choicest of expletives for him, long before the Kingfisher case.

As for whether Peri Maheshwar took down IIPM or not, you can read about it here - https://www.moneylife.in/article/ma...areers360-vanquishes-iipm-in-court/46125.html
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Here's food for thought - Ruias have knowingly defaulted on their loans. How can anyone be sure that they actually have the money to pay off 54k crores debt? It can be simply that they are spouting BS and never intend to pay a dime and extend the IBC process. And they have almost achieved that with the recent ruling from NCLAT Ahmedabad.

The IBC law has come as a surprise to many wilful defaulters and they are trying everything to derail it by challenging every section of the law. Out of the original 12, many have similar issues - promoters being comfortable as defaulters and then suddenly facing a challenge from a new law and now trying to derail the process as much as they can. This is an expected side effect of a new law.

Banks have conflict of interests and the loan procedures are unclear for corporate. This something I have said earlier during the PNB scam:
https://www.techenclave.com/community/threads/nirav-modi-and-the-₹11400-crore-pnb-fraud.186564/#post-2145805

But if you look from the other side, for a loan officer landing a big client, genuine or false, is something which can make or break a career. So they will start the disbursement, and when things grow it slowly becomes about the careers of the bank managers/regional managers/MD etc. At one point of time they might feel that this might turn into NPA but then the fear of year long cases, public fights etc sets in. And instead of doing something, they feel doing nothing is the best criteria because if it goes on for long, it is not their problem but the next manager/MD's problem. Things go round and round in circles. Sometimes people even knowingly do mistakes because - "This time it is different."

I guess what I am driving at is this:

India might be the only country where conspiracy theories are mainstream. People can say whatever they want without having to back it up.

Surely, there is cronyism - be it money or political - but it should be looked from a nuanced perspective. Numbers do tell a story but people, especially journalist, should be mindful of what they are saying and sharing.


PS: On the "bringing down IIPM" I guess our vocabulary differs - JAM broke the story. IIPM sued lot of publications and AFAIK JAM also removed the original story. From your source it looks like this Peri Maheswari guy took on IIPM when they threatened him with legal case.
 
^^ So, what you are saying is that congress doesn't have as much role in crony capitalism or NPAs of banks as BJP makes it out to be and that its all along a loan officer skipping due diligence to score a big client. After all, we all know that multi billion dollar loans for corporate are handled with the decision making of a single low/mid level loan officer who can easily skip the due process at his whims.
 
abhi1984 said:
The IBC law has come as a surprise to many wilful defaulters and they are trying everything to derail it by challenging every section of the law. Out of the original 12, many have similar issues - promoters being comfortable as defaulters and then suddenly facing a challenge from a new law and now trying to derail the process as much as they can. This is an expected side effect of a new law.
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It is the rather the symptom of a badly written new law which is what usually happens when the corrupted and criminals become law makers and laws have to be drafted with loop holes.
 
that corrupted law has recovered loads of bad loan and now latest is essar ruia enterprise who paid back their loan.
guess it’s hurting people who had to pay back the loan.
 
Haha, people have had enough of nonsensical bhakt statements to even bother considering them now.

The facts are all out there, no amount of bhakt fake news and IT cell bs is gonna cover it up.
 
blr_p said:
I follow these developments from a geopolitics perspective. The idea was Russia is inviting India to diversify against China. You'd think the rate would be attractive and not high. So your question still stands.
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I am confused, which question do you mean?

If you are talking about ONGC then it is a public company which means it is their fiduciary duty to explain their thought process to their shareholders in annual reports/investor calls. Anyone can look that up and find out what was the real output vs price etc information.
 
abhi1984 said:
I am confused, which question do you mean?

If you are talking about ONGC then it is a public company which means it is their fiduciary duty to explain their thought process to their shareholders in annual reports/investor calls. Anyone can look that up and find out what was the real output vs price etc information.
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The bolded bit

abhi1984 said:
One, acquisition valuations is not hard science as what the article tries to show off. We don't know why govt oil companies bought Roseneft's share for high price. It could be that they believed that utility value of those mines were worth more even with decreasing outputs. Or that these companies were securing themselves against an uncertain oil future - India's is heavily dependent on Iran for oil. No body knows. Without a substantive proof, this is simply guesswork. And I wish people, especially who are supposed to be "journalist" try to add this much subtly to their "analysis".
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Why was the price high if Russia wants to diversify away from China. I don't know. You'd think it would be attractive in some way ?
 
pratikb said:
that corrupted law has recovered loads of bad loan and now latest is essar ruia enterprise who paid back their loan.
guess it’s hurting people who had to pay back the loan.
Click to expand...

And it it would have hurt a lot more if the laws were made more stringent and properly enforced in an unbiased manner. Companies like Reliance and Adani Groups would have to shut down if their bad loans were to be recovered properly. instead, they keep leaching more and more of the tax payers money.
 
https://indianexpress.com/article/i...tive-review-petitions-in-rafale-case-5585890/

The Supreme Court Friday expressed unhappiness over some lawyers filing defective petitions and seeking wide publicity in the media, while referring to review pleas challenging its verdict in the Rafale case.

Ranjan Gogoi said lawyers file petitions in the apex court registry and instead of removing the defects of the pleas, they go to media for wide publicity.

“The other side is not so innocent…The petitioners go to media and claim wide publicity,” the bench of Chief Justice Gogoi and Justice Sanjiv Khanna said while referring to defective review petitions filed challenging its verdict in the Rafale case.

The apex court’s observation came when it was hearing lawyers mentioning cases for urgent listing and hearing.
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Says it all :facepalm:
 
reliance ADA is already filing for bankruptcy under very same law. that speaks volumes.[DOUBLEPOST=1550264126][/DOUBLEPOST]do check rCOM bankruptcy filing.
 
You mean the shady deals where one debt ridden defaulter proposes to buy the assets of another debt ridden group using debt, have the loans restructured while filing bankruptcy and pay back peanuts while the promoters and their personal assets stay off limits while they go on to "focus" on their other shady companies and then start piling on even more debt for which they will not be taking any tangible responsibility

How about blacklisting the entire group from getting any more debt and preventing debt defaulters from purchasing assets. If a common man defaults on his debt, they would be hounded day and night and it severely reduces their chance of ever getting a loan sanctioned again.
 
Me and my friend at work usually have long discussions over what ethics mean to people. Most interesting discussions are usually the comparison of govt procedures like getting permits and interaction with cops during traffic stops.
 
blr_p said:
The bolded bit



Why was the price high if Russia wants to diversify away from China. I don't know. You'd think it would be attractive in some way ?
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Here's a thought experiment for you. Let's say you have a car which you want to sell and buy a new one. Now while you really want to buy the new car there is no set date. And you have someone who needs a car, specifically a 2nd hand model. Because you need to buy a new car, will you make the car price attractive in any way? The answer is No, you will try to extract as much value and even above market, if possible.

Now using that example - One side you have Russia which is world's 2nd largest oil exporter after Saudi. Other side, India which is 3rd largest importer of oil and actually imports 82% of it's oil needs. It is also the same country where people get really mad if the oil prices increases by even Re 1. You can see diversifying dint mean there will be an attractive price, so to speak.
 
Piyush said we'd be 5th biggest economy last year

https://www.investopedia.com/insights/worlds-top-economies/

5. United Kingdom
Nominal GDP: $2.62 trillion

6. India
Nominal GDP: $2.61 trillion

Anyone still doubt we'll overtake the UK :)

Why is this important ?

The last time India's GDP was bigger than the UK was 170 years ago. So until 1850 India was bigger than the UK. But it changes after. Why

Industrial revolution from 1830 onwards.

See, before this time, size of a country's economy was directly linked to the size of its population. After the industrial revolution, countries that successfully implemented it could change this equation. Meaning countries with smaller populations could now have bigger economies. Then in 1950 we enter the information age and this provides a further boost.

But today, what is the advantage of industrial revolution and information age ? its very little. They have machines, we have machines. They have computers, we have computers. That means now the world is returning to how things were before the industrial revolution where size of population has a stronger bearing on size of economy.

China hasn't risen, it has returned. India is the same as well. The countries with bigger populations are going to be able to grow their economy faster than those with smaller populations. Keep this in mind anytime some one tells you we are so over populated ;)

The size of australia is 2.5 times India. Yet the population is only around 25 million. That is not even half the population of my state. Why? water shortage. Per kilolitre, water costs ten time more in Australia than in India. Is Australia over populated or under populated ? this is a country with limits to how many people it can have. Unless they make more water.

India will be a $10trillion economy by 2030
 
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