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Comparing Indian states and territories with countries
Interesting comparison of Indian states and territories with countries by GDP and Population. Economist notes the the extent of progress that still need to be made by India to become a mid-income country.
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Is It Better to Buy or Rent? – NYTimes.com
NYTimes.com has a nice interactive chart to evaluate if renting or buying a home is better option. Although the chart is for $ investments it wont matter what currency you use.
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India v China: Who grew faster in 2010
It seems that finally India grew faster than China in 2010.Surprisingly it happened without much fanfare. The reasons for this anomaly are even curious to read. Unlike most major economies that calculate GDP by expenditure method, India calculates its GDP by Factor Cost method. That means India adds up the income earned to arrive at…
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SuperFreakonomics (by Steven D. Levitt & Stephen J. Dubner)
SuperFreakonomics is a thought provoking sequel to Freaknomics. This book takes forward the core theme from the first book – People respond to incentives in myriad ways. Unlike other books on economics, SuperFreakonomics has no big concepts or frameworks. It does not conform strictly to a book on macro or micro economics. Instead, the book…
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How IFRS will impact financial statements
A good article in Livemint about how the switch over to IFRS will impact Indian firms. IFRS is going to have significant impact on the financial statements of Indian companies following Indian GAAP standards. IFRS mandates different accounting norms compared to Indian GAAP for recognizing Business combinations, Special Purpose Verhicles, FCCBs, ESOPs and Derivatives. Most…
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China’s financial system
A new book, Red Capitalism, takes a critical look at the China’s financial system. In late 70’s China virtually had no banks. For the next 3 decades, the senior leadership in China meticulously built a formal financial system. But concerns still remain. Beyond the facade, the book explains, lies a primitive banking system that deals…
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Graft in India: Rotten to the crore? – The Economist
A scathing article in Economist, Graft in India: Rotten to the crore, sums up the corruption malaise in India. As the economy grows and the income inequalities rise, corruption problem is only getting worse. It is however now new for us except that the issue is grabbing more headlines these days.
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Crisis in India’s Microcredit Sector
India’s Microcredit Sector is facing a collapse with the rural poor-encouraged by local politicians-stopped paying the loans. If the industry indeed collapses, it will be a blow to the mission to alleviate rural poverty. Access to capital is scarce in rural India as banks refuse credit without a steady income or a collateral with cleat…