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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (2690)9/8/1998 3:42:00 AM
From: Nandu  Read Replies (2) of 12475
 
Imbecile politicos from Kerala the 'Gimme-State'.

Mohan, I think there is some justification to what the
Kerala politicians are saying. Most of the RIB funds
came from expatriate Keralites, yet most
of it will be spend elsewhere.

On the other hand, if the Kerala Govt had the power
to issue bonds of the nature of RIBs, I assure
you I would not have nibbled at 7.9% yield.
Kerala govt. is not known for managing
its finances that well.

A related point, I have seen some messages in newsgroups
and stuff crowing about how the 4.1b investment
made by NRIs in India shows there confidence
in the BJP govt. and its economic policies etc...
I beg to differ. That would be true if NRIs
suddenly started setting up lots of businesses
in India or investing in Indian companies.
The RIB itself just shows that the NRIs like
ther terms and consider the risk of a default
pretty low, irrespective of who is likely
to be ruling India five years hence. The relevance
to Kerala is that if the Kerala govt. put some
concerted effort in making the industrial climate
in Kerala attractive to investors, expatriate
Keralites will invest in Kerala and Kerala
wouldn't have to go to the centre, hat in hand,
for a portion of the RIB take.

P.S. Of course, the politicians' ultimate goal is
to see how much of that money they can divert
to there own pockets in the form of bribes etc...
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