India - No home for elder citizen's

I was really thinking of a topic which would be away from the usual financials, markets and money. Suddenly I got a reminder from my parents to check on their renewal of medical insurance. That is when I decided to delicate this blog on the elderly citizens of India.

India, a country with a billion population and assumed to be most fastest growing economy of the world, know for its culture and values and each family makes sure the younger generations respects the elders.

But in the link, there are a lot to ponder about. If people have traveled and been living out of India would have seen, how the countries care for their elderly citizens by way of Social Security and Health care.

Rewind to India, during their working age, people work, pay their taxes regularly and once they retire they tend to expect only a few caring services. Most elderly in India would like the government to provide pensions and take care of the health care expenses. But in reality NONE are so worried about them. The government thinks of them as only workers who are bonded to work for the money paid.

To make matters worse, if a senior citizen wants to find a medical insurance privately, he is asked to pay a huge premium, which my all means will  be more than the annual pension a person receives.

So who is to blame, are we to be blamed or the government which always keeps media press meet to announce that we are growing and will achieve a GDP of  2 digits soon.

I personally know elderly citizens who want to have medical insurance, but the premium is so huge that it may eat up their penny pensions for years.

So were do we lack, the administration may put it's hand up and say we are huge country with a huge population but that is just a statement to wash the hands.

If there is will, there is way. Why can't the administration start an exercise to identified at least the pensioners try to get them insured for health with government run Insurance companies and make a rule that every hospital registered in the country shall accept this insurance provider. Who wants abide can stay, others can close shops.

It is easy said than done, but there should be a starting point. Each passing day, there are huge bad news engulfing the working class. Presently few IT companies have stopped insuring the parents of workers (http://www.thehindubusinessline.com/industry-and-economy/companies-tell-employees-sorry-no-more-health-cover-for-parents/article5463148.ece).

If the administration does not take any steps soon, this can lead to a catastrophic effect.

I would like to invite any suggestions or comments which can help in this respect.

Indian Markets - Directionless & Fundamentless

The Indian Markets have become unpredictable for a few quarters. Big boys of the indexes have underplayed their hold. With disappointing results to allegations of mismanagement and wrongs mergers and acquisitions in the name of growth have actually hurt these companies.

The recent state elections results wherein Congress the principal party in UPA been performed very poorly, has anything but added more volatility in the markets.

 So, what is wrong with our markets and industry, did we celebrate the growth of economy too soon?

The answer is YES, WE DID. The markets reacted to each and every baby step the industries took, by no means where they to be seen as major achievements. The business media and the trade analyst made sure that the stocks of such companies were well publicized.

Retail investors, who until such time were happy with 8-9%  return on safe investments were lurred by such claims and wanted to hit the jackpot with ease.

The market regulator nor the Finance ministry, was not tracking the markets were on a bullish mode. Statements like India is future economy of the world, who will lift the recession etc were played in public. When there were allegations that FII/DII were the major players in the market. A single statement from the Finance ministry that these were all allegations made by vested interest who didn't want India to grow.

So, what is happening now, the loss of political stability, huge budget deficit, ECB(External Commercial Borrowing) have all eaten the apples in the companies, who are looking to reduce the interest and debts by selling once acquired companies.

Retail investors who had their savings invested in the markets are the first to bear the burn. Neither can they logout of the markets since leave alone the ROI, certain cases the capital has eroded such that makes no sense to come out.

India's growth story may be intact as per the Finance Ministry and the Planning commission, but the hard reality is IT IS NOT.

The sooner we understand the better. Already financial organisations including all the majore government owned banks have been burden with huge NPA's and scouting for capital infuse from the government. The conditions of these banks are just outside the ICU of hospital. If one major bank fails, will trigger catastrophic after actions which will be impossible to handle.

Your valuable review on the above blog is  solicited.