S&P: India risks losing investment grade rating

[mahakavi]

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And, we promote FM to President. well done. of course, when S&P downgraded USA, neither its President nor his Treasury Secretary resigned.

It is a myth that the Finance minister in India or the Treasury Secretary in the US (Tim Geithner) can single-handedly take the country to AAA rating. The Federal Reserve in the US holds the strings for overall economic and financial activity and they have been struggling all these years (first Greenspan, the mumbler, failed and now Bernanke is doing a poor job too---he does not know what to do next). The finance minister in India presents the budget prepared by his staff. He sets policy which is a mish-mash determined by the cabinet overall. It is just global and local business cycles which determine a country's financial strength. It is similar to certain companies going boom or bust under certain CEOs. The successful CEOs in a majority of cases happen to ride a wave of positive happenings and the opposite is true in a downtrend. Of course there are also inept CEOs who take certain companies down and walk away with a golden parachute. Perhaps a similar thing for Pranab Mukerjee---kicked upstairs? This is a chance to bring new blood into the Finance Ministry.

 

[sudeshwer]

I find 'thread' starts on one subject but travels to some other subjects.. May I suggest members to strict to the 'thread' subject. different subjectscan have different threads

 

[biswa]

So I take it you didn't like the China/Israel references? Even though those countries have stellar credit ratings?

 

[mahakavi]

sudeshwer:
My post in response to yours contained references to FM (Pranab), USA (Fed, and Treasury) and resignation vs promotion (Pranab being nominated for the presidency). How much more closeness is expected?

 

[Brahmanyan]

I find 'thread' starts on one subject but travels to some other subjects.. May I suggest members to strict to the 'thread' subject. different subjects can have different threads

Dear Sri Sudeshwer,

The beauty of Tamil Brahmins Forum is the freedom it offers to its members in this platform to discuss subjects freely. Yes, I do agree, many a time members digress from the "thread" due to expanded thinking. There is nothing wrong in that digression. Restricting the flow of thought in any manner will kill the enthusiasm of the participants.

I am an active member in many Forums and I find this unique facility that we enjoy in Tamil Brahmins is distinct which keeps this forum alive and kicking. Ofcourse if the discussions turn into arguments and go out of bounds then the owner and Moderators will take course correction to bring back to order.

Regards,
Brahmanyan,
Bangalore.

 

[sudeshwer]

No.30 Mr Brahmanyan- I agree and I certainly dont wish to stop the flow of thought but one gets lost when thread goes in different direction. I tell you, I joined this Forum in July 2010 and quite sometime I didnt get into it effectively. Once I started joing the discussion, it becomes interesting, vibrating, knowledgeable etc. so, now-a-days I almost daily attempt to open this forum and participate. I like it. I love it with periodical skirmashes which I enjoy too

 

[Haridasa Siva]

Here is what the Indian business leaders have to say:


Lakshmi Mittal, CEO of ArcelorMittal:“Industrialisation is an important part of every major economy’s development and by risking progress in this way, India is potentially condemning hundreds of millions to remain in poverty longer than previously anticipated”.

Mr Mittal made these comments at a time when global rating agencies like Fitch and Standard and Poor's have downgraded India's rating outlook. Wipro chief Mr Azim Premji recently told global investment analysts that the country was leaderless and Infosys co-founder Mr NR Narayana Murthy said India was in a sorry state of affairs.