National Investment Fund and civilised behaviour
"Savages consume everything in their sight, while civilised people save for future generations",
an quote i read long ago but one that has been tatooed in my heart. I think the actions we take as a society for the benefit of future generations, is what that sets one group of people apart from the others.
But what does the Nation Investment Fund (NIF) have to do with civilised behaviour??
Quite a lot, in my view.
First, i think the NIF, ( a fund that will house the sale proceeds from govt. owned companies and the earning used for social purposes) will go down in history as a great piece of financial innovation - One that can change the course of th country's economic history. The fund has ensured the backlash against any divestment will be sobered down and the earning will be put it use for a noble cause.
Second, it has the ability to make India a debt-free country or atleast the assets with the NIF can be equal to the debt of the country. The PSU Index has a market cap of Rs 5,00,000 crore or over $100 billion , thats close to external debt of $112 billion.
It is be fooloish to think the fund can be ramped up overnight but Rs 50,000 crore each year is certainly achievable. so, $50 billion can be reached by the end of the term of Dr Manmohan Singh government and Indian Railways Corporation ADR can be listed on the NYSE!
If it does, it will alter everything - our debt rating, currency rating.
The NIF, can be what the Nowegian Oil Fund (which has $165 billion of oil export surplus) is to Norway.
Most importantly, it will be a strong demonstation that our politicans can act with the interest of future generations in mind and not just petty votebanks.
NIF on the net:
http://pib.nic.in/release/release.asp?relid=6769
an quote i read long ago but one that has been tatooed in my heart. I think the actions we take as a society for the benefit of future generations, is what that sets one group of people apart from the others.
But what does the Nation Investment Fund (NIF) have to do with civilised behaviour??
Quite a lot, in my view.
First, i think the NIF, ( a fund that will house the sale proceeds from govt. owned companies and the earning used for social purposes) will go down in history as a great piece of financial innovation - One that can change the course of th country's economic history. The fund has ensured the backlash against any divestment will be sobered down and the earning will be put it use for a noble cause.
Second, it has the ability to make India a debt-free country or atleast the assets with the NIF can be equal to the debt of the country. The PSU Index has a market cap of Rs 5,00,000 crore or over $100 billion , thats close to external debt of $112 billion.
It is be fooloish to think the fund can be ramped up overnight but Rs 50,000 crore each year is certainly achievable. so, $50 billion can be reached by the end of the term of Dr Manmohan Singh government and Indian Railways Corporation ADR can be listed on the NYSE!
If it does, it will alter everything - our debt rating, currency rating.
The NIF, can be what the Nowegian Oil Fund (which has $165 billion of oil export surplus) is to Norway.
Most importantly, it will be a strong demonstation that our politicans can act with the interest of future generations in mind and not just petty votebanks.
NIF on the net:
http://pib.nic.in/release/release.asp?relid=6769
posted by tvm at 11:55 PM
2 Comments:
Well said....how big is the market cap of private companies in India? is it more than public index of 500,000 Cr???
a little known fact, Japan's debt is 160% of its GDP. Germany is around 70%. And for the world's biggest borrower, it is around 60% of its GDP.
So many blogs and only 10 numbers to rate them. I'll have to give you a 10 because you have done a good job. Great Job,
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