Wednesday, March 20, 2013

What administrative problems?

Economic experts talk about administrative problems for the slow down of the economy. They say  Project approvals delay blah blah blah. This is nonsense I would say. I do not see this as a problem. The approvals and red tapism is in the country for several years. It was there during the high growth phase 2003-2010 etc.

The real problem is

1. Real Problem is Real Estate
2. The 'so called' appreciation myth makes all people to think the only viable business in the country is real estate
3. The lure of 50% or 100% margin attracts people and already many companies and individuals are heavily invested and money is stuck there.
4. Unless we (Government and Banking System) acknowledge that openly, there is no decent solution.
5. Ofcourse, Ugly solution is there which will unfold on its own.

Other than this, if somebody talks about project approvals etc, I dont have slightest of respect for him.

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