Coffee or tea in most udipi restaurants is still available for Rs. 10 - 15. Here the Rs. 100 was for 'designer' outlets like Barista.

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It might sound crazy, but when I left India ten years back, a cup of coffee in a restaurant would usually cost 5 to 7 rupees. On a "Telha" or "Bandi" it used to cost two bucks.

So now you can do the math about the inflation!

Of course, when you earn 20 grand in a call center and 40 grand as a "software engineer" just after you graduate from college , none of that matters. It does matter to the majority of the population, who do not belong to the elite "software" class"!

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Quote:Originally posted by ritz3645
Would love to see when INR gets a free float, may be 5 yrs from now.....

how does it help? i have no idea
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Not an Issue Kumar, let me start with the basic.

Lets take it this way, India is one house (mine), similarly there is a neighbor USA, another neighbor Canada, and China, and...many more

Every house produces something and buys things which it lacks,
Some houses have one children (canada) some have more (India..still counting).

They individually try to balance their income and spending like all Housewife do at all homes.

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During 1991 the then Finance Minister Manmohan Singh had to literally fly in Gold to IMF due to lack of hard currency USD (balance of payment issue) as house of India was buying more than it was selling in the international market

link http://en.wikipedia.org/wiki/Economic_liberalization_in_India

After this episode Indian Govt official policy became 110% Export oriented..why because India was buying more from the international market then it was selling value wise (oil which still represents 70 % of India's imports ....to move the economy).

Even now (after 70 billion USD positive/surplus)day to day INR rate still is monitored and controlled by the dealers at Govt Banks as per instructions by RBI. Still all NRI accounts reflect as debts for Indian Govt and NRO accounts as income.

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Post 2001 .......zero interest money (thanks to MR Alan Greenspan) trickled and flooded house of India (revenues against export..Non IT/IT) which moved India to a strong service economy (tertiary activity).
............
Now house of India is surplus...like China and whole of export oriented Asia surplus meaning it is producing far more that what it is buying from other houses.

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All home minister ( USA/India/China)sell loans (treasury bond) bought by creditors to manage their annual house hold income and the loan is against expected annual Tax revenues.

Developed Houses like UK/USA always had a ready market who would buy their loans as their economies had consistently sold far more in value than what they would buy from other houses.

Whole of export oriented Asia would buy these treasury bond because it moved their exports which were consumed by selling developed houses.
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Free Float

All export oriented Asia which would happily buy USA treasury bond ...have realized after 2001 that they have hardly receive any interest on their investment, but have also lost a quarter of its investment value.

So Russia says it will buy CAD than USD.

And China which is also confident that it will be surplus for future years is thinking of its own currency denominated treasury bond (already listed at Hong Kong exchange and bought by eager investors) and freeing its currency as it knows it will be surplus, and ...surplus develops a balanced economy which would also consume from/of poor houses, like in the olden day surplus kingdom had slaves working for minimum wages from poor countries.


What it means is India which is also confident that it will be surplus for future years can also do the same, and its currency will hold more value than before (it is in a surplus) so if the house currency is strong all investment in the currency are strong compared to other houses.


...........And may be some day the uneducated Anna (registered voter/ ration card holder) who manages the small Chai shop in Andheri E near IT park, will go on a annual Dubai shopping trip instead of thinking of sending his son to Dubai.....coz he knows his shop will be surplus as there's no dearth of his customers making money (IT guys).

Hi guyz

Most of the people who have put their comments seems to be closely following the happenings in India. I totally agree with sumjo's comments. I myself have moved to India couple of years ago and found a job with a top BPO, with good pay packet. But the working culture is so different now in India that it has gone from bad to worse (comparing from 2004, when I migrated to Canada). You are just one more tool like computer equipment etc, notthing much.

But I still recommend if you have other motives of coming back like family bonds or some good financial backup in India, then you can still give a try since there is nothing to lose -as we can always go back to canada.

fyi - u should be ready to work atleast 12 hrs a day in order to be in the job race in India (be prepared for that atleast)

regards
csr

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Originally posted by iamhyderabadi

Hi guyz

Most of the people who have put their comments seems to be closely following the happenings in India. I totally agree with sumjo's comments. I myself have moved to India couple of years ago and found a job with a top BPO, with good pay packet. But the working culture is so different now in India that it has gone from bad to worse (comparing from 2004, when I migrated to Canada). You are just one more tool like computer equipment etc, notthing much.

But I still recommend if you have other motives of coming back like family bonds or some good financial backup in India, then you can still give a try since there is nothing to lose -as we can always go back to canada.

fyi - u should be ready to work atleast 12 hrs a day in order to be in the job race in India (be prepared for that atleast)

regards
csr

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No, its not going to topple over, and neither will you be out of its reach, because ultimately, if it continues going north, it will one day come up from the south, because duniya gol hai bhai

Just kidding............

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Originally posted by Maharaj

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Originally posted by sumjo
prices are going north rapidly

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If prices are going north then south should be ideal location to relocate. Or may be if someone can wait a bit - prices might just manage to climb himalaya n topple over...

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sumjo

its neither pro nor anti India, its the reality. One thing I forgot to mention in my earlier post is that India, a so called upcoming super-power does not have anything called 911, not even in the metro cities.

One incident worth mentioning:

A snr citizen got into a accident while boarding a bus, he somehow sliped and fell from the footboard and became uncons. The bus fled leaving him behind, a crowd gathered, but nobody came forward to take this old man to the hospital. Ultimately, the cops arrived in a Mahindra jeep to take this man to a hospital after a good 45 mins. I dont know whether he survived or not

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Originally posted by ritz3645

Is this suppose to be Pro India or Anti India, cant figure it out......


\"You are expected to work from 9 to 9, leaving at 5 or 6 PM is frowned upon. There is a lot of strees and pressure. The companies are not going to pay you big money just for the heck of it. If they give you 2 lacs a month, they will extract work value of 50 lacs from you, so its not that easy.
- Everything is target oriented, failing to meet your targets leads to termination. Remember, you dont have any \\\"EI\\\" to fall back on!! I know of people joining the private banks from nationalised banks because of the money, and then losing their jobs because they couldnt keep up with the work pressure/targets. Same with ITES/IT Consulting firms\"

MY REPLY
In India or Canada or US...work is the same, perform or perish, except if u working for Public sector.
By the way on CNN there s a story of cities trying to renegotiate perks with Public sector.


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Would love to see when INR gets a free float, may be 5 yrs from now.....
Buy property in India man long term, and hold it, that's an investment idea, no wonder all PE companies are betting big on India, they will make a kill on free float. Already INR is a reserve currency in underworld currency market in far east (Taiwan/Singapore)

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sumjo

In gujarat and many other places we have 180.

Check this http://www.emri.in/content/view/24/59/

I cannot say for other states, however, this service works fine in gujarat. Soem dated news on this service. http://www.thaindian.com/newsportal/uncategorized/150000-emergencies-handled-by-gujarats-108-project_10090236.html

It is very easy to point out the short comings of a country and even easier to be ignorant.

Some more news http://www.gujaratstartups.com/news/108-service-saves-37745-lives

Quote:

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One thing I forgot to mention in my earlier post is that India, a so called upcoming super-power does not have anything called 911, not even in the metro cities.

One incident worth mentioning:

A snr citizen got into a accident while boarding a bus, he somehow sliped and fell from the footboard and became uncons. The bus fled leaving him behind, a crowd gathered, but nobody came forward to take this old man to the hospital. Ultimately, the cops arrived in a Mahindra jeep to take this man to a hospital after a good 45 mins. I dont know whether he survived or not

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