Thursday, 22 December 2011

Why are we begging-- India may borrow $9.5 billion

We may borrow $9.5 billion by pledging assets: Bloomberg

We are planning to borrow up to Rs 500 billion ($9.5 billion) by pledging property and shares to bridge the government's budget deficit, Bloomberg reported on Thursday, citing unnamed government officials.Shares in companies such as cigarette-to-hotels group ITC, engineering conglomerate Larsen & Toubro and Axis Bank held by a state-controlled fund could be offered as collateral to raise the cash, the news agency said. 



The cash will be used by a newly-created fund manager to buy stock in state-run companies and help the government's 400 billion rupees divestment programme for the fiscal year that ends in March, it said.

I do not want use abusing language but these dog need to put down. Its all our fault to elect these moron. Can we all make sure we all do something about this and vote for the right people but the problem is who is the right to get our votes.

Some serious issues in our country

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