Indian Economy: News and Discussion (Apr 1 2011)

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Murugan
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Murugan » 25 May 2012 09:28

India Inc's Most Powerful CEO 2012 : ET

Anilbhai Manibhai Naik
chairman and managing director of Larsen&Toubro talk about his philosophies, motivations and proudest moments. Motivating

Ruminations On Power
What does power mean to you?
Power for me is the ability to empower, which creates a culture wherein every employee feels empowered and performs to their best ability

What according to you is the 'promoter dharma'?
Multiplying shareholder value.

Is there a one-line philosophy that drives you?
Devotion with passion and conviction can make an ordinary man achieve extraordinary targets.

You motivate others; what keeps you motivated?
My work and commitment to L&T and to the nation.

A fact of life that you wish you knew at the beginning of your career...
Work-life balance is very important. If I could relive my life; I would spend relatively more time with my family — because that is something I feel I've missed. But then, L&T is also my family.

Is there anything about the Indian corporate mindset that you would like to see change?
The mindset in India continues to remain focused on Indian benchmarks. I would like to see Indian corporates become not only as good, but even better than the best in the world.

One defining bet you made that paid off in your life?
The decision to leave my high-paying first job (where human dignity was lacking), and opt for L&T at a much lower salary. It gives me tremendous satisfaction to work for a company that serves the nation.

What battles do you like to lose?
When my colleague, especially a junior, does better than me, I feel happy losing to him/her. I believe they will be subjected to more difficult and challenging assignments in the future.

What has been the proudest moment of your career?
Restructuring the company in 2003; demerging the cement business and setting up the L&T Employees Welfare Foundation — all of which resulted in a stronger L&T and preserved its unique character.

Is there any part of the job description you don't particularly enjoy?
In order to serve the larger interest of the stakeholders, at times you have to close or sell businesses; it is not enjoyable.

Who has been the biggest influence in your life?
My father — it is from him that I imbibed the values of service, dedication to a cause, and the courage to forge ahead in pursuit of my goals.


http://epaper.timesofindia.com/Default/ ... 7918110670

Suraj
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Suraj » 25 May 2012 10:54

vina wrote:The Congress machine was always there, infact, it was most powerful, before, during and after independence , with it's zenith under Nehru. The huge machine operators like Tandon in UP (the Congress boss there) were the kind of people who ensured the lock on Congress in Indian politics for like 40 years. It was IG who broke the "syndicate" and in some ways destroyed the Congress machine to get into power. It really is the loss of the machine in UP that is hurting the congress badly.

What's happened is an evolution from INC directly winning major states to regional parties becoming kingmakers. UP is hardly the only state that has seen this phenomenon - TN and AP too went the same way. There's simply too much diversity in the country for one party to effectively disseminate a message addressing the needs of disparate blocs in different regions. The issue applies as much to INC as BJP.

My point is that the INC has been much more efficient at making coalition politics work, at least in terms of general electoral results so far. However, their own reach and tentacles mean that when they get to power they have to disburse favors within party and coalitionwide. The assortment of scams seen during UPA-2 are merely very public debacles arising out of botched attempts to pass out favors in this manner.

Any INC administration will be characterized by these scams - it's the nature of the beast. That's not to suggest there will be none under an NDA administration, but they're still too politically naive to play the patronage game as ruthlessly as the INC, and they're more likely to see their coalition fall apart and lose a motion of confidence, than see things dissolve into complete misgovernance the way a UPA administration can - as is being currently demonstrated.
vina wrote:Well, I am sure you would realize that the current trouble with the Indian economy is all due to the impact of the POLITICAL economy on the structure and nature of the real economy! You cant have a discussion on that point without the underlying political economy. Or else, it will be a Panda like "watching the paint drying on the wall " and going Rah-Rah about growth rates or R&D about fall if any of some parameter.

That is absolutely true, and yet such a discussion will not happen here at length, simply because forum rules discourage the discussion of politics. The latitude this discussion has received here is due to the fact that the economic issues recently are a political creation far more so than any particular external drivers like commodity prices.

Any freewheeling discussion of the political issues invariably descends into the domain of strongly held personal political beliefs or the admiration/loathing of particular characters, which in turn leads to those holding opposite views attacking the other person (as demonstrated a few posts above). The idealist in me believes people can put aside their personal beliefs and just debate the topic clinically, but the practical side of me and forum moderation guidelines don't let me experiment with that idea here :)

Murugan
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Murugan » 25 May 2012 11:36


Suraj
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Suraj » 25 May 2012 12:38

ldev wrote:
Suraj wrote:The petrol price hike is a signal that exchange rate management is getting more priority than inflation rate management now, and/or that the expectations for the latter remain muted. Already put in one remittance order and another going through.

I think it tries to address credit rating agencies primarily.

I'm curious as to why these agencies matter so much at this juncture. I'm not implying they should be irrelevant, but they're external sources of pressure that GoI ought to work to circumvent. A domestic independent creditworthiness agency is something we need. Sadly, CRISIL being majority owned by S&P lacks that independence.

Aditya_V
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Aditya_V » 25 May 2012 13:42

Regarding MNREGA, people are talking as if it is the First ever step for social welfare. We have had Food for work, Work provided for Drought affected areas, PDS system for eons now. RTI is now ineffective with all critical departments being excluded. MNREGA extended the Food for Work, Drought affected to Schemes even to areas where there was no such requirement driving up prices of Farm labour.

Sushupti
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Sushupti » 25 May 2012 22:21

All over 3 month period

USD VD Bangladeshi taka

Image

USD vs pak Rupee

Image

USD Vs Yuan

Image


USD Vs INR

Image

gakakkad
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby gakakkad » 26 May 2012 07:42

A politically naive but economically sane and administratively efficient govt is what we need... BJP offers the three... while CON party is the opposite..it has hawkish efficiency politically ..in fact so ruthlessly efficient it is in vote bank politics that it does not care about what happens to the country...hence the insane economics and non existent admin...

Vina wrote:Too divisive and polarizing.


the image was created by the dork media who get nightmares about him becoming the PM...malicious lies only...

and in any case we should be more interested in econ and infra ...I am OK with a 10 Tesla electromagnet sitting in the PMO , as long as he gets the econ and admin right.. I d rather drive in a 16 lane highway than have the bunch of pretentious slobs who currently occupy the parliament ...

Your support to CON party is purely ideological and egodystonic with your usual economic and political views...Cognitive dissonance , hain ji ?

Further, I disagree with the extent of Modi's polarization. That's a very urban English language view of him.



Most urban households regard him favourably.. Onlee the bleeding heart variety ,the akar patels and ashish nandis and other ding dongs think of him in that manner..

tejas
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby tejas » 26 May 2012 11:12

Vina boss I greatly enjoy your posts and have yet to disagree with a single one ...until now. The Kangress party is the single greatest disaster to befall India since its independence from the Briturds. Let MMS give first priority to Mohammedeans out of his pension. If NaMo could only be given a chance at the PM seat instead of another dim witted Gandee, the world will see what India is truly capable of. I fear however, with the cretins that make up India's electorate, that day will never come. That a party as useless as the Kangress can be re-elected even once demonstrates what a failure democracy is when the majority of the the electorate are functionally illiterate.

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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Singha » 26 May 2012 13:24

INC is like a multi tentacled kabila, with deep linkages into every wheeler dealer in all the states. this coalition of regional wheeler dealers and political warlords nominally pay tribute to the mughals in delhi because it suits them to be seen as part of a larger x-national kabila. depending on their power, the amt of tribute varies. for example a pawarful politician from MH will pay less tribute than a small timer from say kerala. the central HQ acts as a clearing house to manage all these joint ventures, monitor, count money , play off people against each other, manage and punish the media and academia.

we are in the grip of a dictatorship that is worse than TSP because atleast people in TSP realize there is no democracy and they are ruled by dictators. here is a so called 'vibrant democracy' that is ruled by a x-national communal mafia by sailing just below the point where people will notice the truth, by media and textbook control, by sham elections where big money always wins, .....

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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Altair » 26 May 2012 13:49

Image

Anyone who supports Congress Govt is either a traitor or a complete fool.

member_22539
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby member_22539 » 26 May 2012 18:23

^^^^ +1 million

tejas
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby tejas » 26 May 2012 19:22

Also Indians seem to always manufacture the worst of all possible worlds for themselves with no help from outsiders. Instead of a market economy or even a true command economy they set up a crony capitalist and PSU system along with ass backward illogical price fixing systems that scream out for corruption and smuggling, then wonder why such things happen, I think the Parliamentary systems SUCKS in general but is singularly unfit for India.

If you had a Presidential system the public could directly vote for that person and toss him if he didn't do a good job. Furthermore if the Presidential candidates were chosen by the voters in a primary rather than by party bosses in a smoke filled back room, they owe nothing, say to a Sonia Gandee type, and it would be near impossible to have a remote controlled executive as India does now. Further a dynasty situation simply could not arise. Lastly the govt would not fall on a single issue or vote... something i think is absolutely insane. Clearly the current set up in India does not work. The political set up needs a massive overhaul. Man made laws unlike the law of gravity can be re-written. I don't know if India will ever escape sub saharan HDI numbers with the system it currently has.

Suraj
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Re: Indian Economy: News and Discussion (Apr 1 2011)

Postby Suraj » 26 May 2012 20:06

Since people have resorted to their pet political rants and attacks upon others as I predicted, except for those like gakakkad and Singha, this thread will soon be cleaned up and locked. The next one will not continue this discussion since the topic will derail the thread very quickly.


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