tag:blogger.com,1999:blog-351888422024-03-06T04:01:36.850+05:30Thoughts on Investing<center></center>Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.comBlogger339125tag:blogger.com,1999:blog-35188842.post-7612694204771273972017-03-18T13:19:00.001+05:302017-03-18T13:24:08.494+05:30Reversal of inflation trend<div dir="ltr" style="text-align: left;" trbidi="on">
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Inflation downward trend reversed after six months with inflation increasing to 3.61% from a low of 3.14% in Jan 17 for the month of Feb 17. The downward trend started in Jul 16 at a peak of 6.06% Is this a sustainable trend reversal? See the below inflation chart on tradingeconomics.com</div>
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<a href="https://goo.gl/0JilxN" target="_blank">https://goo.gl/0JilxN</a></div>
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Generally the top of markets coincide with a parallel inflation and interest rate increases complementing each other along markets making new highs.</div>
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Since gradual roll back of the demonitisation restrictions, cash has been flowing out of the banks increasing pressure on interest rates. See Deepak Shenoy's analysis of cash outflow per week of around 30000 crore at the below link.</div>
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<a href="https://goo.gl/8yoSPr" target="_blank">https://goo.gl/8yoSPr</a></div>
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At the same time markets are making historical highs. Is this the start of euphoric season in the markets?</div>
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Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-42723387422982312412017-03-16T07:50:00.001+05:302017-03-16T07:52:39.355+05:30The Facts are True, the News is Fake<div dir="ltr" style="text-align: left;" trbidi="on">
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Taleb's new article is out now at the below link. Check it out as Taleb's articles are always fascinating.</div>
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<a href="https://goo.gl/iTxAVf" target="_blank">https://goo.gl/iTxAVf</a></div>
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Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-58346371597923386352017-03-16T02:41:00.001+05:302017-03-16T02:43:49.972+05:30Piramal enterprises<p dir="ltr">Ajay Piramal is one of the very few businessmen who is very ethical, rarely dilutes equity and have made acquisitions work consistently over very long periods of time (decades) which makes him and his business very rare.</p>
<p dir="ltr">Why above characteristic is important: I have read about and witnessed numerous horror stories of businesses going under by doing acquisitions or squandering huge amount of wealth. In fact a number of books have case studies on why most acquisitions do not work and most synergies expected during acquisitions are just hallucinations. </p>
Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-68379546958523035162012-06-10T13:10:00.000+05:302012-06-10T13:14:17.970+05:30Spain is Greece after all<div dir="ltr" style="text-align: left;" trbidi="on">
Here is a nice analysis on zero hedge the 100 billion euro Spain bailout, where is it going to come from. By the way the 100 billion euro is equivalent to 80% of India's revenues in one year. That's how big Spain is and its banking system is.<br />
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<a href="http://www.zerohedge.com/news/spain-greece-after-all-here-are-main-outstanding-items#comments" target="_blank">"After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger (it is also the US, although while the US TARP was $700 billion or 5% of then GDP, the just announced Spanish tarp is 10% of Spanish GDP, so technically Spain is 2x the US). So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions."</a></div>Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com1tag:blogger.com,1999:blog-35188842.post-53063399570510721872012-01-29T15:02:00.004+05:302012-01-29T16:43:24.777+05:30Ever wondered why NRE deposit rates were freed?Just have a look at the credit deposit ratio chart. It's the highest in 35 years.<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirz9TNJ3vzGyp4Sfj3bb1Sty-pcB2ZffFZYV-YLtU8cDahyYvCUPSuGRtkqlyFAmDBLbYNWTOAxHtO8KSNhc5gzWZ_C3DT3YH37eQdjiWYwNGUmTypBMsuhrgQWisjaO-OCZqJ/s1600/credit+deposit+Ratio.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 149px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirz9TNJ3vzGyp4Sfj3bb1Sty-pcB2ZffFZYV-YLtU8cDahyYvCUPSuGRtkqlyFAmDBLbYNWTOAxHtO8KSNhc5gzWZ_C3DT3YH37eQdjiWYwNGUmTypBMsuhrgQWisjaO-OCZqJ/s400/credit+deposit+Ratio.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5702985843005241858" /></a>Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-1552455715975014942011-09-10T11:06:00.004+05:302011-09-10T11:19:25.635+05:30ECB bought another 13.3 bill eurosThe European Central Bank says it spent euro13.3 billion ($18.7 billion) last week ending sep 4 purchasing government bonds in an attempt to keep the continent's debt crisis from pushing Italy and Spain into financial collapse.<br /><br /><a href="http://www.salon.com/wires/allwires/2011/08/29/D9PDPE982_eu_european_central_bank/index.html">Via Salon.com</a><br /><br />Now the total amount of purchases by ECB amounts to 130 billion euros. With 22bil, 14 bil, 6 bil, 13.3 bil in four weeks it has now spent 55 bil euros (increasing the amount spent by 70%) in a matter of four weeks. Note that ECB started buying bonds in the market around 13 months ago!<br /><br />At this rate the bailout fund of 440 bil euros will get exhausted in 28 weeks!! not counting the collateral that it needs to hold and the fact the bond yields are still rising even with purchases. If adjusted the money will last for only few months.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com2tag:blogger.com,1999:blog-35188842.post-57914519820379567122011-09-08T23:39:00.002+05:302011-09-08T23:42:18.612+05:30Greece - 91% chance of defaultCredit-default swaps on Greek government debt surged to a record, signaling a 91 percent chance the nation will fail to meet debt commitments, after its economy shrank more than previously reported. <br /><br />Five-year contracts on the country’s sovereign bonds jumped 196 basis points to 3,001 basis points, at 3:45 p.m. in London, according to CMA, which is owned by CME Group Inc. and compiles prices quoted by dealers in the privately negotiated market. <br /><br /><a href="http://www.bloomberg.com/news/2011-09-08/greek-credit-swaps-surge-to-record-signal-91-chance-nation-will-default.html">Via Bloomberg</a><br /><br />Does that remaining 9% really matter especially with today's fractional reserve systems used by financial institutions all over the world not only Greece.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-74718539985350769942011-09-08T23:30:00.002+05:302011-09-08T23:35:39.990+05:30Swiss Franc pegged to euroThe Swiss National Bank devalued the franc, pledging to buy "unlimited quantities" of foreign currencies to force down its value. The SNB warned that it would no longer allow one Swiss franc to be worth more than €0.83 – equivalent to SFr1.20 to the euro – having watched the two currencies move closer to parity as Switzerland became a "safe haven" from the ravages of the eurozone crisis.<br /><br /><a href="http://www.guardian.co.uk/business/2011/sep/06/switzerland-pegs-swiss-franc-euro">Via Guardian</a><br /><br />Another safe heaven lost. Gold is slowly becoming the safest asset against currency devaluations and money printing all over the world.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-59818280019526551572011-09-03T18:07:00.003+05:302011-09-03T18:10:29.226+05:30Greek one year bonds at 70% yieldTalks over new bailout funds for Greece were suspended Friday amid disagreements over how to fill a government-deficit gap that once again is veering off track, raising doubts about the country's future access to finance and triggering renewed nervousness in financial markets across Europe.
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<br />The suspension pushed yields on Greek government debt to levels indicating that investors see a default by Athens soon as a near certainty: <strong>Interest rates on one-year paper blew out past 70% and two-year yields rose close to 50%</strong>.
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<br /><a href="http://online.wsj.com/article/SB10001424053111904583204576545811058225074.html?mod=WSJ_World_LEFTSecondNews">Via Wall Street Journal</a>
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<br />Debt forgiveness annoucement is now just a formality.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-76650311437128018612011-09-03T10:16:00.002+05:302011-09-03T10:18:52.604+05:30Everonn troublesThe shadows lengthened over troubled education firm Everonn Education Ltd on Friday after chairman Jamshed J. Irani resigned days after the arrest of co-founder and managing director (MD) P. Kishore in an alleged bribery and tax evasion case by the Central Bureau of Investigation (CBI).
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<br /><a href="http://www.livemint.com/2011/09/03011242/JJ-Irani-quits-Everonn-govt-s.html?h=A1">Via Livemint</a>
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<br />Usually such investigations lead to larger troubles within. Better safe than to be sorry latter.
<br />Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-36638371862909164492011-09-03T01:21:00.002+05:302011-09-03T01:25:16.466+05:30ECB might have stopped buying bondsBowing to the pressure from various corners on what it can do and cannot do, ECB may have stopped its bond purchases as yields of Italy and Spain started rising beyond their usual 5% yield last couple of weeks. The current yields on 10 year bonds are as follows
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<br />Italy - 5.28%
<br />Spain - 5.12%
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<br />Greece two yields has now skyrocketed to 47% while 10 year bond is trading at 18%
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<br />Interesting times ahead in the next couple of weeksRanjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-76936997513974583002011-09-02T23:14:00.003+05:302011-09-02T23:18:20.782+05:30IMF priority lender status for Greece in troubleIMF is worried about its priority creditor status
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<br />"The use of collateral, a concession to win Finland’s backing for 109 billion euros ($155 billion) of loans pledged by euro leaders in July, would deny the IMF priority creditor status and violate Greek bondholders’
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<br /><a href="http://www.bloomberg.com/news/2011-09-02/imf-said-to-oppose-push-for-greek-collateral.html#">Via Bloomberg.com</a>
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<br />The trigger point for euro crisis may come up on 07th Sep when Germany votes on the rescue fund.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-22026741437138036332011-09-02T00:49:00.004+05:302011-09-02T00:53:26.365+05:30India fiscal deficit is 55% of expected in just 4 monthsThe central government's fiscal deficit surged more than two-fold to Rs 2.2 lakh crore during the <strong>first four months </strong>of the current fiscal, on account of low revenue realisation and higher expenditure.
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<br />Fiscal deficit, the gap between overall expenditure and receipts, in the first four months of the financial year is almost 55% of the Budget estimate of Rs 4.12 lakh crore for 2011-12, as per the latest data of the Controller General of Accounts (CGA).
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<br /><a href="http://www.moneycontrol.com/news/current-affairs/fiscal-deficit-surgesapr-jul-to-rs22-lac-cr_581530.html">Via Moneycontrol</a>
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<br />When you have very high expectations about what you can achieve, you tend to fall into much deeper s*!t. Another example above.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-27432874326277908962011-08-29T23:55:00.002+05:302011-08-30T00:04:33.276+05:30ECB bought another 6 bil euros of bondsThe European Central Bank says it spent euro6.65 billion ($9.64 billion) last week purchasing government bonds in an attempt to keep the continent's debt crisis from pushing Italy and Spain into financial collapse.
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<br /><a href="http://www.salon.com/wires/allwires/2011/08/29/D9PDPE982_eu_european_central_bank/index.html">Via Salon.com</a>
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<br />Now the total amount of purchases by ECB amounts to 116 billion euros. With 22bil second week, 14 bil third week, 6 bil fourth week of August it has now spent 42 bil euros (increasing the amount spent by 70%) in a matter of three weeks. Note that ECB started buying bonds in the market around 13 months ago!Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-56243006943600066752011-08-28T00:45:00.002+05:302011-08-28T00:48:19.546+05:30Greece forced to tap emergency fundRaoul Ruparel of Open Europe told The Telegraph: "The activation of the so-called ELA (Emergency Liquidity Assistance) looks to be the last stand for Greek banks and suggests they are running alarmingly short of quality collateral usually used to obtain funding."
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<br />He added: "This kicks off another huge round of nearly worthless assets being shifted from the books of private banks onto books backed by taxpayers. Combined with the purchases of Spanish and Italian bonds, the already questionable balance sheet of the euro system is looking increasingly risky."
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<br /><a href="http://www.telegraph.co.uk/finance/financialcrisis/8723588/Greece-forced-to-tap-emergency-fund.html">Via Telegraph</a>
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<br />Looks like Greek situation is getting excited again after the second bailout in July 2011
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<br />Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-5359717413296870182011-08-28T00:24:00.001+05:302011-08-28T00:26:33.111+05:30Russian Central bank to offer gold backed loansRussia's central bank will offer gold-backed loans for up to 90 days at an interest rate of 7 percent, it said in a statement on Friday, expanding its lending facilities for dealing with any future liquidity crunch in the banking system.
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<br /><a href="http://af.reuters.com/article/metalsNews/idAFL5E7JQ0Q020110826">Via Reuters</a>
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<br />Gold is gaining importance day by dayRanjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-7365525628404524322011-08-25T23:10:00.001+05:302011-08-25T23:12:05.857+05:30Jeremy grantham's Aug letterI am not an expert in euro finance by a wide margin. But I know one thing. Forget the debt for a second: the current uncompetitiveness of Greece, Ireland, Portugal, Spain, and Italy did not occur quickly. It took 10 long and obvious years. They had to work at it. The cure was always going to cause a lot of pain and threaten the well-being of the euro - Jeremy Grantham
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<br /><a href="http://www.gmo.com/websitecontent/JGLetter_Pt2_DangerChildrenatPlay_2Q11.pdf">Full Letter</a>Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-43150107320495001552011-08-25T22:25:00.003+05:302011-08-25T22:28:54.701+05:30PredictionsAlthough i seemed to have got it right this time when i was reasonably clear that we hit the top in Nov 2010 courtesy the following article i have written on 26th June 2011 - i did not happen to make a ruppee in the market using this? My money is not where my mouth is in this case - a lesson learnt.
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<br /><a href="http://uranjitkumar.blogspot.com/2011/06/india-interest-rate-market-correlation.html">Did we peak in Nov 2010?</a>Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-29620935060353747912011-08-25T22:21:00.002+05:302011-08-25T22:24:41.547+05:30Difficult days ahead - RBIThe Reserve Bank today warned of difficult days ahead, saying inflation will remain at elevated levels for some more time while the economic growth rate will moderate in the current fiscal.
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<br /><a href="http://www.moneycontrol.com/news/economy/difficult-days-ahead-high-prices-low-growthcards-rbi_580099.html#toptag">Via Moneycontrol</a>
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<br />Although RBI has been wrong a number of times as i have quoted <a href="http://uranjitkumar.blogspot.com/2010/02/rbi-inflation-projections.html">here</a> the above seems to be real scenario playing out currently unless there is a crisis or a semi crisis.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-55990307931645791352011-08-25T00:26:00.002+05:302011-08-25T00:30:25.461+05:30Japan's rating is cut by Moody'sMoody's Investors Service today lowered the Government of Japan's rating to Aa3 from Aa2, concluding the rating review that began on May 31. The outlook is stable.
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<br />The rating downgrade is prompted by large budget deficits and the build-up in Japanese government debt since the 2009 global recession. Several factors make it difficult for Japan to slow the growth of debt-to-GDP and thus drive this rating action.
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<br /><a href="http://www.moodys.com/research/Moodys-lowers-Japans-government-rating-to-Aa3-outlook-stable?lang=en&cy=global&docid=PR_224752">Via Moodys</a>
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<br />Aa2 is equivalent to the rating AA in terms of S&P
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<br />AAA: Moody judges obligations rated AAA to be the highest quality, with the "smallest degree of risk".
<br />AA (AA1, AA2, AA3): Moody judges obligations rated AA to be high quality, with "very low credit risk", but "their susceptibility to long-term risks appears somewhat greater". (AA+, AA and AA- in S&P)
<br />A (A1, A2, A3): Moody judges obligations rated A as "upper-medium grade", subject to "low credit risk", but that have elements "present that suggest a susceptibility to impairment over the long term". (A+, A and A- in S&P)
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<br /><a href="http://en.wikipedia.org/wiki/Moody's">Via wikipedia</a>
<br />Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-72536554309844640432011-08-22T23:05:00.003+05:302011-08-22T23:11:18.746+05:30ECB buys another 14 bil european bondsECB has again intervened in the markets last to buy 14 billion Euros worth of bonds of Italy and Spain. Its combined total buying since last is now 110 billion euros. This is the reason why Spain and Italy's bond yields are consistently at 5% while Portugal and Ireland's yields are consistently at 10%.
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<br /><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=2f9564b6-64f5-456f-bbfd-8e91a929aeb7">Via fxstreet</a>
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<br />Earlier post: <a href="http://uranjitkumar.blogspot.com/2011/08/ecb-purchases-bonds-worth-half-irelands.html">ECB buys 96 billion euros worth of bonds</a> Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-37191120148912991392011-08-20T21:37:00.002+05:302011-08-20T21:40:43.091+05:30Farmland prices are setting recordsFarmland prices are setting records and farmer incomes have been buoyed by exports and biofuels, easing the pain of some rough summer weather from drought, floods and fires.
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<br />The Chicago Federal Reserve Bank on Wednesday said farmland prices in the Midwest in the second quarter were up 17 percent from a year ago -- <strong>the biggest jump in 34 years.</strong>
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<br /><a href="http://www.reuters.com/article/2011/08/20/us-grains-investment-idUSTRE77J10X20110820">Via Reuters</a>
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<br />Jim Rogers, Micheal Burry prove themselves right once again.
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<br />Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-64729247393361700552011-08-20T19:11:00.004+05:302011-08-20T20:14:28.291+05:30India's debt increased by 5.9% in Q1 2011Recently our Finance minister is getting worried about our fiscal situation not because we are spending more than we have budgeted this year but the revenue collection has fallen short of projection drastically.
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<br /><strong>Revenues:</strong> Our countries revenue for the year 2011-12 has been budgeted at around 8 trillion (lakh crore) so for the first quarter apr-jun 2011 we should have earned around 2 trillion (lakh crore), but in reality the revenues are only around 0.9 trillion (lakh crore), <strong>falling short by almost 53% in Q1 2011.</strong>
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<br /><strong>Expenditure:</strong> Our countries expenditure for the year 2011-12 has been budgeted at around 13 trillion (lakh crore) so for the first quarter apr-jun 2011 we should have spent around 3.1 trillion (lakh crore), but in reality we have been <strong>prudent enough to spend only 2.6 trillion (lakh crore) Q1 2011 which is 16% less than expected.</strong>
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<br /><strong>Fiscal Deficit:</strong> Even though we are prudent on spending since our revenues have fallen drastically our fiscal deficit which is expected to be 1.3 trillion (lakh crore) for the entire year is now <strong>0.7 trillion (lakh crore) for the first quarter itself</strong>
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<br /><strong>Debt:</strong> India's public debt which is around 29.75 trillion (lakh crore) in 2010 <strong>already rose by 5.9%</strong> in first quarter to 31.49 trillion (lakh crore), thereby increasing our interest payment costs every year.
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<br />The reason for the above situation is that we had a windfall last year from the 3G spectrum sale, but this year there is no such silver bullet atleast for now.
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<br /><strong>What it means for you and me?</strong> Each one of us (1210 million population) has a debt of 26000 rupees and we need to pay an interest of 2158/- every year. Seems less until we acknowledge that we still have <a href="http://en.wikipedia.org/wiki/Poverty_in_India">41% of the population earning less than 56 rupees a day</a> and we have only <a href="http://freepress.in/business/total-income-tax-payers-assesses-in-india/">3.3 crore (33 million) tax payers</a> who have to share the burden.
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<br />Source: <a href="www.rbi.org.in">RBI</a>, <a href="http://banking.contify.com/story/indian-govts-apr-jun-total-public-debt-up-59-on-qtr-to-rs-3149-trillion-2011-08-18">Contify Banking</a>Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-48802765458667556622011-08-20T00:23:00.003+05:302011-08-20T00:33:09.255+05:30Finland's backdoor deal with GreeceGreece was pursuing a private deal with Finland in which Greece promised to collateralize Finnish contributions, in essence eliminating Finland's contribution to the Greek Bailout round. As Kathimerini reported, "<strong>Greece and Finland agreed on Tuesday to virtually cancel the latter’s participation in the former’s second bailout package</strong>"
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<br />Finland’s share in the 109-billion-euro package amounts to about 1 billion, which Helsinki will pay to Greece but Athens will repay it through a new loan contract to be signed for this purpose and which will be valid for the next 25 years (likely to be the maturing period of the new loans, too).
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<br /><strong>This means in practice that Finland’s contribution to the new package will be returned in full and deposited in a special account to be created by the Finnish government</strong>. End result is that everyone else has immediately come demanding the same treatment: first the Austrians, next the Dutch, and last the Slovenians.
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<br />And what happens if Finland backtracks on its collateral demand: will it back out of the Greek bailout as well? Or, if Finland digs in, and all the non-German countries follow suit, will Germany say Enough and tell Europe (and China) to fix its own problems?
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<br /><a href="http://www.zerohedge.com/news/greece-threatens-unwind-second-bailout-agreeing-finland-collateral-demands">Via Zero Hedge</a>
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<br />Seems like entire Europe wants only Germany to pay for this mess and the integrity of Europe as a single entity is again in questionRanjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0tag:blogger.com,1999:blog-35188842.post-86700587100318741942011-08-20T00:03:00.003+05:302011-08-20T00:09:46.279+05:30Apple costs you 32 biggest euro banksThat's the stark result from a steep fall in the share price of banks including Spain's Santander, France's BNP Paribas, Germany's Deutsche Bank and Italy's Unicredit, compared to a steady rise in Apple's valuation, according to Thomson Reuters data.
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<br /><a href="http://www.reuters.com/article/2011/08/19/us-apple-worth-idUSTRE77I46520110819">Via Reuters</a>
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<br />And still the stock is trading only at 14 time trailing earnings.Ranjit kumarhttp://www.blogger.com/profile/14856995905755271940noreply@blogger.com0