For Whom Wealth Matters
June 29, 2011 1 Comment
The 25 paise coin, popularly called chaar anna , has cease to be legal tender today.It has passed into history just like the 1,2,3,5,10 & 20 paise coins.In a way it is the death of an era.It makes me a bit sad. Read more of this post
June 29, 2011 3 Comments
Here are some inflation figures from the report ‘Higher inflation cost households Rs 5.8 trillion’from CRISIL.They can be plugged into the calculator here: https://wealthymatters.com/2011/01/22/inflation-calculator/
Hope this helps with your financial planning.
‘The study shows that growth of private consumption expenditure in nominal terms increased to nearly 17 per cent per year during this period from 14 per cent in the preceding 3 years mainly due to the rise in food inflation.’
‘The rise in inflation to 8 per cent per year during 2008-09 to 2010-11 from 5 per cent in the preceding 3 years Read more of this post
June 28, 2011 3 Comments
The picture on the right might be what comes first to mind when a lot of people think about India and gold–A bride decked out in gold ornaments.
Here interesting facts about Indians and gold:
India is the world’s largest buyer of gold, accounted for 32% of the global demand in 2010.
India’s annual consumption demand has risen from an average of 300-400 tonnes (1998-2004) to about 900-1,000 tonnes in the last three years (2008-2010).
India’s demand for gold rose by 106% Y-o-Y,in 2010, substantially higher than the 60% recorded by the second-fastest growing market- China.
Indians invest over 11% of the gross savings in gold, against less than 2% by the Chinese. Read more of this post
June 27, 2011 2 Comments
Like him or hate him or forget him,Narasimha Rao set India on the path of economic reforms.The Urea Scam might have tainted him and his strategy of Masterly Inactivity might have earned him criticism but to give the man his due, even when India might not have been in much of a position to bargain,he ensured that reforms and growth were initiated in such a way that it didn’t raise trenchant opposition.Here’s an article about the man’s achievements from yesterday’s paper.
Swaminathan S Anklesaria Aiyar
Twenty years ago, Narasimha Rao became Prime Minister and initiated economic reforms that transformed India. The Congress party doesn’t want to remember him: it is based entirely on loyalty to the Gandhi family, and Rao was not a family member. But the nation should remember Rao as the man who changed India, and the world too. Read more of this post
June 26, 2011 24 Comments
Sudhir Hasija is the chairman of the Rs 1200 crore homegrown handset maker Karbonn Mobiles.Here is a link to the company’s website:http://www.karbonnmobiles.com/.
His story will tell you how a person with few means can get into wholesaling and then into manufacturing.So for all would- be industrialists here is his story:
55 year old Sudhir Hasija, is the son of a government clerk. He left his home in Meerut, Uttar Pradesh, after clearing his Class 10 exams. He then moved to Hyderabad where he spent three years in a machine tools company and saved around Rs 3,000. He used this money to set up a business selling TV accessories such as antennas and trolleys in Chennai. It was a difficult struggle. He would climb to the rooftops of buildings bare footed in the scorching heat to install antennas. He used to wash at railway stations and stay in low-cost lodges. However he persisted and managed to built a thriving business that he expanded across other southern cities. Read more of this post
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