Most families are now going for nuclear families and old couples have to look after themselves with minimum help from their children. It is critical for these couples that value of money from hard earned savings is maintained and Finance be made available for Life. High inflation is eroding value of rupee. Rising dollar has made imports expensive and value of Indian rupee has fallen to Rs 55 per dollar. How can the Indian governments and the central bank retain the real value of money? While no one doubts the long term growth story of India, the present seems precarious.
After series of growth rates in 9% range, the country’s growth has slowed down to 5% levels. The inflation has been stubbornly high in double digits. The interest rates on bank deposits or long term savings don’t offer positive real rates. The real estate prices have been prohibitively expensive for poor and even middle class families. The unemployment scenario is distressing with more than 75% of our graduates not employable. Those who have got jobs in IT majors have to wait over a year after graduation to join the companies. Both the Union and the state governments continue with populist schemes and are not tackling problems of critical infrastructure like power, roads and water. Their budget deficit has resulted in increased government borrowing crowding out private investment. The Indian banks have been able to meet just 1.6% of loans requirement of SMEs, who are forced to seek money in informal sectors. The uncertainties in the Indian political parties and lack of any credible honest political alternative can be disastrous for future growth of the country.
The international scenarios have been equally disappointing. The US monetary policy with substantial quantitative easing has tripled the Fed’s balance sheet, yet the credit growth has not taken off. While the US corporate profits are healthy, the employment growth has not picked up. Euro is fast losing its value and might be headed for a possible breakdown. The citizens of PIGS (Portugal, Italy, Greece and Spain) have been rushing their money out of their countries, for fear of currency devaluation. The Indian rupee is fast losing value with respect to US dollars and imports have become prohibitive, fuelling inflation. All over the world, the governments and central banks have not been able to maintain the value of money for their citizens.
How can Indian government kick start the economy? How can the governments reduce fiscal deficit? How can the banks lend more to the companies and individuals? How can our graduates be made more employable? Most countries are now going for nuclear families and old couples have to look after themselves with minimum help form their children. It is critical for these couples that value of money is maintained and Finance be made available for Life. How can the governments and central banks maintain the real value of money? While the outline is a suggestive one, it is not mandatory. The author has discretion to choose his own format and adopt innovative assertions based on facts and figures. While the essays have a 3000 limit, the author is welcome to supplement with relevant Annexures.
WHO CAN PARTICIPATE? Graduate, Post Graduate students and young professionals
PRIZES:
JURY:
CONTACT INFORMATION:
For queries/ submissions: events@bfa-india.org or call Raghavendra at 97434 37999 or Arti/ Priya at 97434 37888
For submissions: registrations are being accepted online
Website: http://www.bfa-india.org
After series of growth rates in 9% range, the country’s growth has slowed down to 5% levels. The inflation has been stubbornly high in double digits. The interest rates on bank deposits or long term savings don’t offer positive real rates. The real estate prices have been prohibitively expensive for poor and even middle class families. The unemployment scenario is distressing with more than 75% of our graduates not employable. Those who have got jobs in IT majors have to wait over a year after graduation to join the companies. Both the Union and the state governments continue with populist schemes and are not tackling problems of critical infrastructure like power, roads and water. Their budget deficit has resulted in increased government borrowing crowding out private investment. The Indian banks have been able to meet just 1.6% of loans requirement of SMEs, who are forced to seek money in informal sectors. The uncertainties in the Indian political parties and lack of any credible honest political alternative can be disastrous for future growth of the country.
The international scenarios have been equally disappointing. The US monetary policy with substantial quantitative easing has tripled the Fed’s balance sheet, yet the credit growth has not taken off. While the US corporate profits are healthy, the employment growth has not picked up. Euro is fast losing its value and might be headed for a possible breakdown. The citizens of PIGS (Portugal, Italy, Greece and Spain) have been rushing their money out of their countries, for fear of currency devaluation. The Indian rupee is fast losing value with respect to US dollars and imports have become prohibitive, fuelling inflation. All over the world, the governments and central banks have not been able to maintain the value of money for their citizens.
How can Indian government kick start the economy? How can the governments reduce fiscal deficit? How can the banks lend more to the companies and individuals? How can our graduates be made more employable? Most countries are now going for nuclear families and old couples have to look after themselves with minimum help form their children. It is critical for these couples that value of money is maintained and Finance be made available for Life. How can the governments and central banks maintain the real value of money? While the outline is a suggestive one, it is not mandatory. The author has discretion to choose his own format and adopt innovative assertions based on facts and figures. While the essays have a 3000 limit, the author is welcome to supplement with relevant Annexures.
WHO CAN PARTICIPATE? Graduate, Post Graduate students and young professionals
PRIZES:
- 1st prize: Rs 50,000/-
- 2nd prize: Rs 30,000/-
- 3rd prize: Rs. 20,000/-
JURY:
- Honourable Justice B. N. Srikrishna, Chairman, Financial Sector Legislative Reforms Commission
- Mr. Kundapur Vaman Kamath, Chairman, ICICI Bank
- Dr. M Govind Rao, Director, National Institute of Public Finance Policy
- Mr. Sunil Kunte, President, Fidelity Business Services
- Mr. N. Ganapathy Subramaniam, President, Banking & Financial Services, TCS
- Mr. S. K. Barua, Director, IIM- Ahmedabad
CONTACT INFORMATION:
For queries/ submissions: events@bfa-india.org or call Raghavendra at 97434 37999 or Arti/ Priya at 97434 37888
For submissions: registrations are being accepted online
Website: http://www.bfa-india.org
