India's Foreign Exchange Reserves $270 billion, 4th largest holder in the world? Your views on the same:?

Question

India's Foreign Exchange Reserves have gone up handsomely over the last decade, from a level of near bankcruptcy in 1990-91 to almost $270 bn billion today

1 Billion (Level of near bankruptcy in 1990-91)

In 1990 we have Forex crisis and had bledge gold to buy Forex from world bank.

$ 10 billion (projected) for 1999-2000, a nine fold increase in 8 years

From 2000 onwards our Forex has grown from $10 billion to $270 billion

India ranks as the world's 4th largest holder of foreign exchange, behind People's Republic of China, Japan, Russia, the report said.

Today it is proudly crossed the 270 billion mark.

To understand how much money you are talking about. USA president bush George bush was convincing the congress to allot $ 80 bn for the war in IRAQ for 8 months.

India's reserve growth, driven by a booming economy that began after the country liberalized its economy in 1991.




India's reserve growth, driven by a booming economy that began after the c

When you have this month amount of foreign reserve, it gives the country the purchase power without credit.

This will help India to improve the infrastructure drastically. No more World Bank or foreign loans. No more dependency of other countries for basic needs. Investment in Research and Development in a bigger scale.

I am sure there are negative comments on this too from our own people….
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Don’t forget to star if you like this question ... Hey this is only a reminder, not a request.

It is sad that we have people like Kalra & ashley as citizens of the country. Tomorrow they both get recognition like a promotion or a salary hike. They go and tell their friend. The friend instead of congratulating them, they say.. so what one of your relative doesn't have job.
You tell them that Sania mirza has reached 30th rank in Women Tennis. It is best ever achieved by a Indian women. Instead of appreciating her progress they will say.
Still she has not reached top 10 or not won any big tournaments. But none from their generation would have even won a local tournament.
These are lots of loosers in life, who will never appreciate any good thing around. They will always say negative comments about any good thing you share with them.
Just look at how they manipulate the figures to prove their points.
Let me go with your own argument if India's population at 1970 was 50% then it is a big ratio compared to the more than 100 crore population below 25%. It is a tremendous progr

It is sad that we have people like Kalra & ashley as citizens of the country. Tomorrow they both get recognition like a promotion or a salary hike. They go and tell their friend. The friend instead of congratulating them, they say.. so what one of your relative doesn't have job.

You tell them that Sania mirza has reached 30th rank in Women Tennis. It is best ever achieved by a Indian women. Instead of appreciating her progress they will say.

Still she has not reached top 10 or not won any big tournaments. But none from their generation would have even won a local tournament.

These are lots of loosers in life, who will never appreciate any good thing around. They will always say negative comments about any good thing you share with them.

Just look at how they manipulate the figures to prove their points.

India's population at 1970 was 50% then it is a big ratio compared to the more than 100 crore population below 25%. It is a tremendous progress looking at the volume. We don't need 20 years, less than 10 years to achieve this progress.

Even if we become a developed nation or a richest country, you tend to have lazy guys who don’t want to earn, who don’t want to achieve in life. There would be beggars, who don’t want to work.
There would be farmers who will keep taking loan (not investing on the land), drinking day and night and committing suicides. We keep giving loans to formers and poors, but they just live with that money instead of using it for the right purpose. We wave of all these loans most of the time. It is the other bad elements who take all the suicide cases of the state and attribute it to farmers. Actually people die for different reasons.

In states like Kerala, there are shortages of farmers or laborers. You ask these poor people to go and work in these places and earn money. They will not do that. It is the same case with many developed countries.

Even in US there is crime as there are many who don’t want to earn but to steal others money.

These are not the parameters to evaluate a countries growth. Socioal issues would always be there in every country. But one country is growing lets talk about that only.

It is my effort to share a goodness, which shall motivate us and feel good about India. Any subject we can keep on talking negative and make several justification comments. However why don’t these people talk something positive.

We need to encourage and motivate youngsters by giving them great vision of our countries growth and encourage them to dream big and achieve them.

There are lots of youngsters who fall for these negative talks. Please don't listen to these losers in life, who will keep on talking bad about their own country.

You might seen many youngsters blaming their parents for their failures in life. It is like that..........

It is sad that Karla did not find any positive subject or report or link to show it to youngsters.

There are many countries which are jealous of other countries growth and come out with lots of articles to stop investers to invest in India. It is people like Karla who fall prey for it.

Dear Mr. Rajendra K. Aneja,

Thanks for your answer and your added comments on me. By this, my view point got its true meaning. Now the readers know the difference between me and you.

Please do show my question and your answer to your family members, your colleagues and friends. They will feel very proud of you and your actions.
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Wow, little bit of provocation, people show their real self:

In an argument or a conversation, why a person gets angry or looses control and starts abusing. Hahahaa….. That person lost the battle or don’t have points to counter argue.

You are always welcome to answer my question, if you have patience, maturity and little bit diplomacy.

Answer 1

Gentleman your positive attitude is commendable.If my generation could have had enough forsight to realize The Industrial Age was on its way out and not lived it up like there was no tomorrow we would not be in the predicament we are today.I believe large Technological companies have the fith in the youth of India to continue to out source there businesses.Gentleman you just can't let India's youth think that it is all or nothing right now.Just as with the tennis players,the Indian youth have to grasp the larger picture.30th today, 10 tomorrow,1st in a few years.That is true with the economic boom.Fifth today third tomorrow, first in the next few years.But they have to grasp the positivism you are telling me.The importance of proper spending and the proper education.India will not just sit by and prosperity will go by all by itself.It will only increase and continue to prosper if the current generation does the right thing now with a positive attitude.I can't help but be reminded by the hare and the Tortoise.Do you know that story?Well basically the rabbit says live for today and tomorrow will take care of itself.The slower,wiser turtle says no we must hold up our heads even if things appear bleak and the race we will win.Just spend wisely and don't run down your team mates when they seem to be down.Pat them on the back and tell them to stay the path.Look how fair down Japan and Russia (USSR) fell before they realized prosperty.When ever I get your questions I try not to miss answering them.You are good for India.If I had someone with your mind and attitude here I would run you for political office.I would want someone like you making important decisions.The youth of India are at a critical juncture right now.They need the encouragement you speak of.An economic boom like India is experiencing could not be possible without diversity.Naturally some things will grow faster than others.That's why teamwork is so very essential.I'm not even Indian but I am proud to be your brother just the same.I hope the youth of India doesn't fall into the pitfalls or trip over the stumbling blocks like America has.Remember past discussions we've had?All the greed,jealousy,vanity, mistrust, etc.That negativity will lead to misfortune.It's up to the current leaders to instill what is important into the youth now.You cannot let the concatenation break.I hope that I will always be able to read good news from you Gentleman.Who knows, maybe one day we will meet for an exchange of thoughts..Your Pal larry m Up above early I meant to say companies have the faith in India's youth

Answer 2

Excellent,...Farmers are committing suicide in Maharashtra due to crop failure and cannot pay back their loans.
In the northern poor states people are getting rotten wheat to make bread.
Some suburbs in Mumbai,India's financial capital have daily power cuts.
Poor people sleep on footpaths and railway stations at night.
The rich are becoming richer.One hundred thousand rupees in a fixed deposit will fetch you 10000 rupees in interest,but what about those who have no savings and lead a hand to mouth life?
Are you aware of the land grab situation everywhere?
For the poor a bird in the hand is worth 2 in the bush,so those
270 billion are just figures for them.
Do we have free soup and sleeping centres like in other countries?
4th in the world...ha...take a bow.Whats the use.

This gentleman wants Yahoo Answers to turn into a political forum with his views not to be contradicted or else he cannot take it.Besides he also wants to dominate by asking too many questions that are irrelevant to a site that has a variety of simple good day to day and sometimes personal problems of a good, honest and folks from different walks of life to be answered. NO policits here please gentleman.And dont solicit votes.

Answer 3

I agree with both Kalra and Ashley.
World's Richest is none other than our very own Indian Anil Ambani.
I am looking forward to hear India is 1st largest holder of foriegn currency in the world.

Answer 4

Laghe Raho India.

Answer 5

$270 Billion !! Very impressive.
But merely having money in the bank doesnt qualify to being a superpower.
We are on our way. But still a long way to go.
As they say: "Lage raho"!

Answer 6

Sounds good.But there is an need to control population a lot.I will try my best to do something that is needed by our country and asked you too do this.I hope it will soon reach to no.1 position in foreign exchange reserves.Thanks for the info.

Answer 7

It would be nice to watch India grow as a powerful nation.

Answer 8

hey.. India is going to be a superpower in next 20 years! i believe in that.

Answer 9

That's a lot of money.
I'd buy Coke, not Pepsi with it.

Answer 10

Oh YAY !!!!!!! Good 2 know !!