Monday, July 28, 2008

How much is a Trillion Dollars ?

Well let us understand some numbers. India's population is 100 crores. With a per capita income of Rs 30,000/- the GDP is Rs 30 lakh crores. This is Rs 30 trillion.
(One Trillion = 1000 billion = 1000 times 100 crores = 1 lakh crores).
Phew! Finally got the maths through!
Now, in today's news, the IMF says that sub-prime / financial sector losses are likely to reach one trillion US $.
This is equal to 42 lakh crore Rupees, or, more than the GDP of India.
Who did it ?
A few hundred (or thousand ?) financial sector smart guys, receiving millions of dollars in salary and bonuses, driven by greed have almost managed to destroy the American Financial Sector.
Reforms or retrograde step ?
In India, we want to hand over our Banks and Insurance Companies and Hard earned provident Fund money to these fellows. And this is called 'reforms' ?


Ravi said...

This so called "reforms" will keep these guys getting mind boggling salary and bonuses for some years to come as they will be required to "invest" the huge sum of money.....At least these Left parties (CPI etc. ) are upto some good as they are opposed to these reforms...

imentors said...

I agree with You, However just want to know ,How could they do it ? and how much time it could take to these levels . Can u educate me on this ,I will be grateful.