Gold fact sheet

GOLD PRICES IN INDIA
In 1930 8 gm Gold Rate = 14.4/- INR

In 1940 8 gm Gold Rate = 28.8/- INR

In 1950 8 gm Gold Rate = 79.2/- INR

In 1960 8 gm Gold Rate = 88.8/- INR

In 1970 8 gm Gold Rate = 147.2/- INR

In 1980 8 gm Gold Rate = 1064.0/- INR

In 1990 8 gm Gold Rate = 2560.0/- INR

In 2000 8 gm Gold Rate = 3516.0/- INR

In Jan 2010 8 gm Gold Rate = 13200.0/- INR


In Jan 2013 8 gm Gold Rate =22000/- INR

In2020………….=??????

Impact of Budget on Gold

The rupee fluctuation has always been a crucial factor in determining Gold prices and it is well known that a weaker rupee can support the gold prices and vice versa. As expected if there are more spending cuts and reforms taken to boost the equity markets and debt markets we would see a possibility of rupee strengthening and pushing gold prices down.

Recently after a series of reforms taken by the government on gold import duty, rate cut and partial deregulation of diesel prices we saw a good fall in gold prices along with the strengthening of Indian rupee. The reforms opted to reduce the Fiscal Deficit will make INR stronger and gold prices weaker; at the same time the level and ways of reforms will also form a crucial part in deciding the fate of gold. In pre-budget discussion among the party the finance minister assured that by the spending cuts and other reforms economy can see a growth level of 6-7 percent in the coming fiscal year. Also, FinMin has already committed to a fiscal deficit of 4.8 percent of GDP in 2013-14 which indicates lesser spending and tightening of imports and stronger rupee. This means, more open markets for investors abroad, reduced spending, reduced fiscal deficit and stronger rupee. As this fiscal consolidation can improve the outlook of the economy it will also reduce the safe haven appeal for gold and reducing the demand for gold.

WILL RAHUL BRAND DELIVER .........?

Ruling congress party has declared that party will face next general election in 2014 under Rahul Ghandhi's leader ship. Will it work? I think Rahul is increasingly becoming a burden to Congress. His only plus point is that he is from the Nehru-Ghandhi political dynasty. His ability to lead the party and the nation is in doubt. Party failed to make any advantage in UP and Behar assembly poll which was fought under his leader ship. His performance as a parliament member is also very poor. During the last eight years he spoke only two times in the parliament. He was tight lipped in various scams that grappled the party and the government. Any way Congress party to end up with heavy loss in the next election ................  

Should India try to join NATO?

I feel that the non-aligned movement is absolutely useless in serving India's foreign policy, geopolitical and diplomatic interests. As a largely poor country (sorry to break this so brutally to the mypoic chest thumpers amongst us), India needs strong alliances in order to punch above its weight in global matters. In a way the G20 has helped us, but it is largely a talking shop. We are not part of any major security framework that could, for instance, deter adventure seekers in Beijing to try something funny in Arunachal in 15 years' time.

I believe that India belongs in the league of the world's free nations and has nothing to fear to align itself whole-heartedly with the United States, the European Union, Japan and other like-minded countries. It does not mean breaking off old relationships (e.g. with Russia), but we have to undertake a cost-benefit analysis of being in (as opposed to being out) of a security umbrella. With 1 million soldiers, 800 combat aircraft, a blue water navy, a nuclear arsenal and most importantly, the world's largest democracy, India is a strong candidate for joining NATO.

The thought may give heart-attacks to people who can't think out of the box, but I say it is a good organisation to be part of. In return for committing troops to NATO operations and defending attacks on other NATO member states, it would in an instance put the armies of America, Britain, France, Japan, among others, between our sovereignty and the intentions of a certain rogue neighbour in the north.

It may mean India has to allow NATO military bases in some strategic spots (e.g. the Andamans) and I say why not? Contrary to the xenophoebia quite often present in India, we have nothing to fear from the West. In fact we have a lot to learn and gain from them. So let's stop dithering and throw our lot in with the world's civilised and free nations

Building deterrence for peace

Recent demonstrations in China over Japanese claims on the Senkaku Islands indicate a new belligerence and nationalism among the Chinese populace that does not augur very well for India-China relations. While Japan, Taiwan, Vietnam and other contested spaces in China’s immediate neighbourhood occupy “pole” position when it comes to the dominant nationalistic discourse, a stronger India has started figuring actively in the academic discourse.

for more:http://www.thehindu.com/opinion/op-ed/building-deterrence-for-peace/article4013770.ece

Behind the war

Fifty years on, how the events leading up to 1962 were perceived by China remains almost entirely absent in Indian narratives of the war. Unlike the wars with Japan and in Korea that have a central role in Chinese propaganda about a national revival led by the Communist Party ending “a century of humiliation,” the conflicts with India and Vietnam, where China was the aggressor, are largely airbrushed from today’s Chinese history textbooks. Few Chinese students are even aware of 1962.

http://www.thehindu.com/opinion/op-ed/behind-the-war-a-genesis-in-tibet/article4013766.ece

Do FDI in Multi Brand retail harmful to India ?

Hot debate is going on about Union Govt's recent move to more liberalization. Last week govt announced its fresh policies. 51 % FDI in Multi Brand Retail is one among them. Do this move destroy the unorganized retail sector in our country?
Absolutely never ... According the said plan International retail chains will open their malls only in cities with population more than 10 lakhs.
Modernization in retailing will create an atmosphere in which the farmers will get reasonable price for their products . retailers will buy farm products   directly from the farmers. which avoid unnecessary meddle men
if Big retail chains like wall mart open their shops in India it will employ millions directly and indirectly.