The Blue Print for a 5 trillion dollar economy .
Few months back a 50 cent Euro was given to me as a souvenir .It looked exactly like our 5 Rs coin.Yellowish gold in colour , round , dense and heavier than 1 rupee coin..
I held it in my palm and watched it sparkle with its richness and felt my heart sink like as if that small coin was weighing me down.Though it is similar to our 5 Re coin ,the special glow it emitted was due to its international standing,and the respect it commands all over the world with its purchasing capacity.
That 50 cent is supposed to be equal to our 50 paise but,when converted to Rupees,it is actually equal to 40 Rs!As I weighed that 50 cent coin in my palms tossing it up and down I felt ashamed of our 5 Rs coin's insignificance and wondered whether our rupee would ever command such a respect in the world with people hankering for it.
I consoled myself thinking maybe one day our Rupee may be highly sought after and maybe I would not be around to take pride in that fact but I was and am sure that our useless one rupee coin could one day or the other in distant future definetly command the respect a dollar or Euro does now..
Two days back the Blue print to steer India to a 5 trillion dollar economy was released The economic adviser to the Govt of India and his team explained the way to achieve this target and revealed the scientific or rather the economic methods they followed like analysing the stupendous growth of China, Mexico and US to help them devise a blue print for our rapid economic development.They were very enthusiastic and were positive that the target would be reached within 5 years.
Their enthusiasm coupled with their youthful high spirits was infectious.Maybe I would still be around to take pride at the rapid rise in the purchasing power of our badlybattered and, bruised rupee.and gleefully watch the clamour for our rupee world wide as against a dollar or a Euro.
So far so good .However there is a snag in its fine print. The part of the presentation in which it was stated unambiguosly that interest rates will fall or will have to fall if the target of 5 trillion dollar economy has to be reached, created disquiet in me. Senior citizens like me who are dependant on the interest accruing from fixed deposits to meet our daily expenses will see a scaling down of our income in a period of life when we are no longer fit and healthy to go out and earn money.Hence I hope that interest rates for senior citizens are maintained at the reasonable rate of 8 % on FD'S, by the Govt in the times to come.
It will be sweet if the Blue print for creating a virtuos cycle works out succesfully and I would relish it sweetness even more if the Govt keeps in mind my request of maintaining 8 % interest rates on FD's for senoir citizens and grants it .
I held it in my palm and watched it sparkle with its richness and felt my heart sink like as if that small coin was weighing me down.Though it is similar to our 5 Re coin ,the special glow it emitted was due to its international standing,and the respect it commands all over the world with its purchasing capacity.
That 50 cent is supposed to be equal to our 50 paise but,when converted to Rupees,it is actually equal to 40 Rs!As I weighed that 50 cent coin in my palms tossing it up and down I felt ashamed of our 5 Rs coin's insignificance and wondered whether our rupee would ever command such a respect in the world with people hankering for it.
I consoled myself thinking maybe one day our Rupee may be highly sought after and maybe I would not be around to take pride in that fact but I was and am sure that our useless one rupee coin could one day or the other in distant future definetly command the respect a dollar or Euro does now..
Two days back the Blue print to steer India to a 5 trillion dollar economy was released The economic adviser to the Govt of India and his team explained the way to achieve this target and revealed the scientific or rather the economic methods they followed like analysing the stupendous growth of China, Mexico and US to help them devise a blue print for our rapid economic development.They were very enthusiastic and were positive that the target would be reached within 5 years.
Their enthusiasm coupled with their youthful high spirits was infectious.Maybe I would still be around to take pride at the rapid rise in the purchasing power of our badlybattered and, bruised rupee.and gleefully watch the clamour for our rupee world wide as against a dollar or a Euro.
So far so good .However there is a snag in its fine print. The part of the presentation in which it was stated unambiguosly that interest rates will fall or will have to fall if the target of 5 trillion dollar economy has to be reached, created disquiet in me. Senior citizens like me who are dependant on the interest accruing from fixed deposits to meet our daily expenses will see a scaling down of our income in a period of life when we are no longer fit and healthy to go out and earn money.Hence I hope that interest rates for senior citizens are maintained at the reasonable rate of 8 % on FD'S, by the Govt in the times to come.
It will be sweet if the Blue print for creating a virtuos cycle works out succesfully and I would relish it sweetness even more if the Govt keeps in mind my request of maintaining 8 % interest rates on FD's for senoir citizens and grants it .
posted by K.C. Sujata at
1:26 AM
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