Union Budgets 2009-2010 Proclaimed the Development of Indian Villages

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.

Read more

HTC Launches Android Mobile in Indian Market

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.

Read more

Cheaper Home Loans by PSU Banks

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.

Read more