Union Budgets 2009-2010 Proclaimed the Development of Indian Villages

No Comment - Post a comment

Union Budgets 2009-2010
Till now, we all aware about union budgets 2009-2010. Yesterday, Pranab Mukherjee presents his 4th budgets in Parliament. Everything was not clear by that budget because presentation was not complete. But now, we have lots of data to analyze the reality of union budgets 2009-2010.

As per the statement of Pranab Mukherjee, “single budget can’t solve our all problems” is clear that he wants to say something more beyond the budget. PM has welcomed this and said that it will develop Indian rural areas. It is the positive budgets and we should welcome it. Lalu Yadav also welcomed the union budgets and said the budget has signified villages.

Congress Party says that the budget is for “Aam Admi”. Let’s see what the reality of the budget is.

If we run through the data then we will find easily there is nothing to stop recession and unemployment. Government has allocated a big amount for NREGA but what about those youth and young who are unemployed? By the NREGA they will give only 100 days guarantee. But what about remaining 265 days? Every year software industry is going in vain; every year lakh of youth being unemployed but government is doing nothing.

Another reality, government has said that every year 1.2 crore employment will be created. But what types of employment, for whom is not clear?

There is a big allotment for common wealth games also but there is nothing to stop higher prices. Every year government announces to reduce electronics prices but still I am waiting for that. There is nothing on the basic education.

Government will try to achieve 9% GDP growth but common people are looking for a job to survive their life. IT sector which cover more than 50% economy, there is nothing about that sectors employees.

Exemption limits have been raised minimal of 10000 for men and women. I think there is nothing for common people even for youth and young also which are base of the country. A large amount of money will be spent in the budget – 10.20 lakh crore.

From my point of view the union budget is for industrialists and capitalists not for common people. Common people will get only a drop of total economy.

 

HTC Launches Android Mobile in Indian Market

No Comment - Post a comment

HTC Android mobile in India

HTC Corporation has announced to launch mobile phones in Indian market shortly. The Android mobile handset which is based on the open source platform has been designed by global mobile phones designer HTC.

Ajay Sharma who is the head of HTC India told Hindustan Times reporters in Bangalore while launching the smartphone HTC Touch Diamond 2,
"We are part of the Open Handset Alliance (a consortium of software, hardware and telecom players devoted to developing the platform. We will be launching the Android. We have had an overwhelming response with a 300 per cent growth in 2008 over 2007 with a 20 percent market share in smart phones. When is the question but sooner the better,"
He added the statement when asked about the company's plans to launch the Android phone in the Indian market. It was published in HT online news paper.

If you have an Android handset then you can download or install applications without being tied to single vendor conduit.

In November 2007, HTC became the founding member of the Open Handset Alliance. In 2008, HTC launched the T-Mobile G1 in September with Google and T-Mobile. It has been declared the first device to be based on Android globally.

In Indian mobile phones market these android based handsets will be launched by HTC. It would be without presence of Google and T-Mobile in India.

India is still growing market for technology and consumer electronics. The touch-screen trend has led a samarphone technology in India also. HTC will create more competitive market in India also by launching the open source mobile phones.

These mobile phones would be specially, in the competition of Nokia, Samsung, LG and Sony Erission. Indian customers have to wait for this mobile phone till its launch.

 

Cheaper Home Loans by PSU Banks

No Comment - Post a comment

Recently, state-run banks announced to offer cheaper loans rates on the home loans for first five years. The offer is for upto Rs 30 lakh on 9.25%. Currently, this offer is only for Rs 20 lakh on 9.25% interest rates by public sector banks but the scheme will open till 30th June 2009.

After restructuring banks loan slabs the special offer is available for Rs 30 lakh according to the executives. For instance, Corporation bank has replaced Rs 5-20 lakh loan with new slab of up to Rs 30 lakh.

JM Garg who is the chairman and managing director of banks said with ET, “We are working on restructuring of slabs for home loans to bring down the lowest slab to Rs 30 lakh. We find that 75 % of the demand for home loans was in this segment. There is further room for interest rate cuts and our next asset liability committee is to take a call.” It means the loan amount interest rate 9.25% will be only for first five year on the amount of Rs 30 lakh and further will be lowered.

Kamlesh Rao who is the executive vice-president of Kotak Mahindra said about it, “While home loans in the sub-30 lakh category industry is seeing a higher growth of around 10-15%, the Rs 30 lakh plus category is showing a growth of 5-10%.” For the Rs 30 lakh loan amount state-run banks charge 9.75-10%.

For the further, it has been announced that monthly payment on 20 years loan amount of 30 lakh would drop about Rs 500 on cut of every 25 basis interest rates.

IBA (Indian banking Association) has offered some special interest rates also to attract the customers. Upto 5 lakh loan amount PSU banks offer maximum interest rate of 8.5% for the first one year.

 

Vodafone and MTNL Trying to Lunch 3G Services in Telecom Market

No Comment - Post a comment

Vodafone Store

There is two hot news about telecom industry. Vodafone and MTNL Indian mobile networks are trying to launch 3G services in India. According to recent news about Rs 10,000 crore debts has been raised by Vodafone and Essar group from State Bank of India. The fund will work for plans expansion along with bidding for 3G licenses.

In the PTI news Vodafone Essar spokesperson said, “We will use the loan for various business purposes.” Vodafone offer about 69 million users mobile phone networking services.

Vodafone mainly will work for 3G spectrum by the loan amount. Now, 3G spectrum in India bid price varies from Rs 2,020 crore to Rs 4,040 crore.

In second news MTNL which is the state government telecom services provider announced that it will work for 3G network services in Mumbai next month. It has target about 1 lakh users by next year. However, “Jadoo” 3G network services have been already launched by MTNL in some pockets of Delhi.

Kuldeep Singh who is the MTNL (Technical) Director said in Economic Times, “We will begin aggressive marketing our 3G services when we would have a good user base and cover major parts of Delhi.”

By these two news it is clear that now in telecom industry all network providers want to expand their services for 3rd generation. It is the competition like mobile phones handsets where all handsets are going to be launch touch-screen. In the network services now, even in India there is competition to give the 3G services to its users.

 

Recession is for longer time in Economical Development

No Comment - Post a comment

Recession is not a problem of a short period but also it is problem of longer economical crisis. When we see Indian economy we found that year 2006-2008 recognized as economical development but in real it was not a development. In the capital development there was a seed of economic crisis. Many people are giving many theories but no one talking about capital crisis.

The recession is actually the crisis of capital. The cycle of capital not running easily because over productions have created the crisis. It is the basic things of capitalist systems. Before proceeding towards recession we should know about the capital and economic cycle.

Everyone knows that currently we have been living in market society. Not in a human society where everyone works to satisfy requires of each others. In the market society to survive our live we need a job. But for that job we return more production to our boss. The accumulation of that production increases day by day like Indian economy of 2006-2008. After the huge accumulation we find two pole – one is capital accumulation and another is society without money.

All the analysts of economic crisis are giving the theory to solve the problem for a while but no one wants to solve it permanently because they don’t want. Why they don’t want? They have accumulation of capital and they want to run the society by their market but in the higher stage of capitalism-imperialism there is need to change the society by people not by politician and not by the voting system.

Economic crisis can be solved by the people revolution otherwise the society will run in the crisis. Economic crisis bring the social crisis actually. We can see the cut off jobs, shutting down companies, distortion of technologies etc. All these are the value of society but the society is in the crisis. In the crisis of society we have to see – frustration, madness, robberies, communalism etc. So, there is only one option to stop recession – either change the society or go to hell.

 

SBI Credit Cards Outlet across the Globe to Handle Business

No Comment - Post a comment

In terms of business and market cover SBI has created huge outlet across the globe. You can imagine that how SBI handle its market to grow business rapidly. I am going to share that news here from a credit cards blog. Below is full coverage about SBI credit cards outlet:

"When it comes to the discussion of the most extensive ranges of credit cards that are useful for several kinds of usage then the name of SBI credit cards come on the top.

The financial scenario of India has drastically changed with the implementation of electronic banking. With the blessing of Internet technology, now the banking chores and financial transactions have become much flexible like never before. One of the latest additions in the present scenario of online banking is the credit card. Credit card is basically a plastic made triangle shaped card which is equipped with a unique chip into it. A credit card allows the users to make financial transaction, transfer money, online purchasing and other financial activities with supreme flexibility.

Now you will find hundreds of banking institutions in the country, which offer different categories of credit cards that are specially designed for different types of usages. When it comes to the present scenario of credit card providers, then the names of SBI credit cards come on a remarkable position. The State Bank of India offers an extensive range of credit cards to its customers which fulfill different kinds of facilities to the card holders. Let’s discuss about the various kinds of credit cards offered by the bank to make a clear idea of which would be best suitable for you.

SBI offers its extensive range of credit cards in the names of GoAir SBI card, SBI railway card, SBI Vishal mega mart card, SBI silver cards, SBI social card, Hero Honda SBI card, SBI Gold cards, SBI platinum cards and so on. Different credit cards are designed to help the users in different ways.

One can use the GoAir SBI credit cards in over 24 million outlets across the globe. The users can withdraw cash from 1 million VISA ATM counters. These cards also facilitate you to buy just about anything and let you repay the amount in monthly instalment basis.

The SBI Silver card is a superb type of credit card offered by the bank. The users will get the advantage of cash back in various departmental stores, groceries, restaurant and utility bill payment. By making transaction through these cards the users will get the benefit of 0% fuel surcharge.

The SBI platinum cards are literally the credit cards for the elite class of people. Through these cards, the users will get exclusive travel advantages of cash access across the world, international power points, travel related assistance services and so on.

The lifestyle credit cards of SBI also have world-wide acceptance. The users will also get the advantage of cash on the go. These cards provide the advantage of utility bill payment facility and teledraft facility.

So, from the above discussion one thing is quite clear that the SBI credit cards are available for all sort of financial needs and all class of people. Like such cards, the popularity of the Canara bank credit cards is also on the top among the people of India."

Source Via :SBI credit cards in over 24 million outlets across the globe

 

Calculated EMI for Home Loans Interest Rate in India

No Comment - Post a comment

People say that home loans are easy available now, I am agreed. People say that home loans is now very lower interest, I am not agreed. I am not agreed because here is some cause which I am going to share that. I am agreeing because the crisis of economic has lent the home loan without down payment. Let’s read calculation of EMI for home loans interest rate in India from a blog below.

"Nowadays, in the Real Estate sector there is a revolution for mortgage loan. All the news paper and magazine are with full coverage of lower interest rates for home loans, lower EMI on home loans, lower mortgage interest rates etc. But what is the actual situation have to justify.

According to the SBI calculation on fixed 12% interest rate the EMI will be 867.82 now upto Rs. 5 lakh on per lakh for every month. Old EMI was 1,101.09 upto Rs. 5 lakh for per month on every Rs. 1 lakh. It means, your saving is about 233.37 up to Rs. 5 lakh for every month on per lakh.

For the Rs. 5 to 20 lakh new EMI will be 915.87 per month for every Rs. One lakh rather than 1,101.09 old EMI. It means, your saving is Rs. 185.22 for per one lakh amount if you get the home loan for Rs. 20 lakh for the 20 years tenures.

Overall your saving will be Rs. 185 to 233 for per lakh on the home loans for 20 years. It was the calculation on the basis of 12% fixed interest rate by State bank of India.

What is the reality of these loans? For example you borrow a loan amount of Rs. 20 lakh for the 20 years then what will be EMI?

According to the new EMI calculation you have to pay per month about Rs. 17356.4 if all the circumstances don’t change. However, your older calculated EMI was for Rs. 20 lakh per month – Rs. 22021.8.

You can just imagine that if you buy a home on the amount of Rs. 20 lakh then you have to pay total in 20 years Rs. 41,65,5,36. It means just double amount for that Rs. 20 lakh in 20 years.

So, in the Indian context you can imagine who can buy the flats to take loan by banks! It is the revolution of Indian Real Estate sectors and income and investment of Banks.

Another story says that you can borrow whole amount by banks on 0% down payment. Is it crisis or investment? However, the home loans or mortgage loans trends has been not increased as year of 2006-2007.

Total deduction in the percentage of interest rates is 1 to 1.5. The actual interest rates will follow with the monthly EMI on the basis of loan amounts and loan terms.

All the activities is the result of government pressure on banks due to economic crisis for the liquidate the capital in the consumers."

Source Via :New EMI Calculation for Home Loans on lower interest rates in India

 

Older Posts
Subscribe to: Posts (Atom)