End of India

8/13/2019 End of India

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EQUITYMASTER AGORA RESEARCH PRIVATE LIMITED

The End of

India?WARNING: What you are about to rea !o" #$

%o!tro&er$#a'( a! )ay be o**e!$#&e to $o)eau#e!%e$+ Reaer #$%ret#o! #$ a$e+

Dear Reader,

Imagine getting up one day and finding all your savings as well as your retirementmoney gone.

Imagine discovering that you can't pay for your children's education anymore... thatyou're going to default on all your loan payments... and that the company you work in isabout to go bust.

Imagine seeing your house rent double, paying a fortune to fill up your car (if you canstill afford it at that point), and buying vegetables for prices you earlier paid forluuries.

!oth you and I know many of these things are happening already.

But mark my words - this is just the beginning, and the situation is about toget a LOT worse in the days to come.
http://www.equitymaster.com/


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"es# $e Indians are set to come face to face with the !I%%& financial threat in therecent times.

nd this threat comes *+ from any event happening elsewhere in the world, but fromwithin our own country... operating in our towns, cities, and villages... right under ournoses.

hat's right.

+f late, we've been so obsessed with the happenings in the , &urope, yria, Russiaand -hina that we have overlooked the things going on in our own country... and the

massive threat they pose to our personal finances.

!ut now, I'm going to reveal all about them to you.

nd not ust that, I'm also going to tell you how to protect yourself from this threat andpossibly even profit from it at the end.

/owever, before we do that...

0lease understand once again that what I'm about to tell you now is controversial, andwe even epect a lot of angry emails from people after reading this letter.

!ut this is something that will really have serious implications for your wealth andfinances going forward.

nd that's why we decided to bring it to your attention right away, no matter what theconse1uences for us after we do that.

A Crisis Bigger Than AnythingWe Have Faced Before!

/i, I'm Rahul %oel, the -&+ of &1uitymaster... India's leading Independent stockresearch firm with over 2,343,456 members from 62 countries worldwide.

"ou may know our company from the path7breaking research work we have done overthe last 26 years.

$e recommended buying ata 8otors at the depth of the 9554 crisis when everybody


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else thought the company was about to go bankrupt. hose who took ourrecommendation ended up making 643: on it.

$e told people to stay away from the Reliance 0ower I0+ which was one of the biggestand most popular I0+s to hit the Indian market. s you may know, the I0+ turned outto be a huge disaster.

nd these are ust two such eamples.

Time and time again, our commitment to not be swayed by marketemotions, and instead analyze hard facts to get the right picture, has

helped !uitymaster become one of the most trusted research houses inthe country today.

;ike one of our subscribers, R amratt, says...

"It's been 5 years since I have been a subscriber to all the products of

Equitymaster (EM). EM's "power to people" approach is what made me to

associate with them initially. EM's honest independent and consistent

research on stoc!s is worth appreciatin. In short I must say it has been a"rewardin" e#perience."

+r like another subscriber, Deepak ggarwal, says...

"In $%%& Equitymaster was probably the only research house which will ive

most of * or +E recommendations rather than ,- reports and

everyone !nows what happened after that. I feel to be proud subscriber of

Equitymaster seein aain that you still are not afraid of ivin the rihtopinion irrespective of mar!et moods. /reat 0ob111"

nd I'm telling you all this not to brag, but only so that you take what we are about totell you now with utmost seriousness.

;isten, we believe we are heading into a phase where millions of unsuspecting Indianswill go broke, and survival will become the one and only concern for all people.

nd the worst part 7 this is going to happen not in another < or 25 years, but in the very


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near future#

I know this may sound unbelievable right now.

In fact, when we discovered this during our latest analysis of the Indian economy, evenwe hoped it would somehow turn out to be wrong.

!ut as we checked the data, double7checked it and then checked it once again, ourbelief only grew stronger and stronger...

Is this the end of the road

for the normal Indian?

$e believe the normal Indian is all set to be hit by a series of changes that will destroyhis current way of life and push him into a state of helplessness and despair.

"ou see, the Information echnology boom and the all round growth of India thatfollowed gave normal Indians something they seldom enoyed before 7 surplus moneyto use as per their free will.

hey could splurge this etra money on clothes, gadgets, cars or anything else. +rinvest it in shares, property or do whatever they wanted with it.

his is what gave Indians a new sense of hope and security.

his is what led to the growth of the domestic economy in India.

!ut this sense of security is about to be snatched away from us now.

nd we have = very good reasons for saying this...

2. "irst, the falling rupee and rising prices ha#e crushed the dreams ofthe rising $ndian middle class

$e're afraid the days of owning epensive smart phones, high7end laptops, ;&D >s,fancy cars, overseas education and foreign vacations are fast approaching an end fornormal Indians.


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s you know, the rupee touched an all7time low of Rs ?@ against the dollar recently,and still continues to hover around the Rs ?9 per dollar mark.

%hart &' (cute )upee *e#aluation (gainst + *ollar

+ource2 3eserve ,an! f India (www.rbi.or.in)

In short, the rupee has lost around 2?: in 952=, and 33: in the last = years.

$hat this means for normal people like us is that if we could purchase a laptop for Rs=9,555 when the rupee was at Rs 3< to a dollar, the same would cost around Rs 33,555or more with the rupee scaling new lows.

greed that we can live without high7priced laptops, smartphones and ;&D >s.

!ut we can't say the same about petrol and diesel too, rightA

ince Buly 9


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+ource2 4etroleum 4lannin 6nalysis 7ell(Ministry of 4etroleum 8atural /as /overnment of India)

o maintaining a car has already become a huge burden.

nd any further increase in fuel prices will automatically lead to an increase in theprices of milk, vegetables and other essential commodities too... increasing your

monthly ependiture even more.

hinking about sending your kids abroad for educationA "ou can forget about that also.

If funding your kids' overseas education took Rs =5 lakhs earlier, the same will cost youRs 3< lakhs now with the fall of the rupee.

nd guess whatA ll this is ust one part of the story.

(s if the problems from the falling rupee weren/t enough, you now ha#e todeal with the constantly-increasing domestic prices too...

ake a


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nd I'm not talking about 25 or 2< years ago. Rather about ust 9 or = years ago.

s you know, in the last = years, vegetable prices have risen greatly. he prices of fruits,eggs, meat and fish too have gone up.

Cood grain prices have risen. &ducation has become epensive. /ouse rents have risen.raveling costs have risen. 0roperty prices have risen.

dinner for two that cost Rs


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policymakers were etremely optimistic of breaking the 25: mark very soon and kepttelling us the best is yet to come.

t that time obs were in plenty, students would get multiple ob offers even before theyfinished college, and hopping from one ob to another was considered the easiest wayto increase your salary fast.

Cast forward to the present and the scenario is entirely different.

he falling growth has really hurt India as the number of obs has gone downdrastically.

Business confidence in $ndia has fallen to an all-time low. (nd many firmsare now struggling to just co#er their interest payments.

o what really happenedA

$ell, the truth is India was doing eceptionally well for a brief period during 955479525.

!ut the government then rested on its laurels, and spent money on etravagantsocialist schemes rather than on building infrastructure and creating obs.

his led to a shortage of government funds for proects, followed by policy paralysis,followed by private investments drying up, eventually leading to a slowdown ineconomic growth.

%hart 3' $ndia/s *ecelerating conomic 4rowth


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:$%;;


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It's no secret that many mobile phone companies in India import phones from -hinaand sell them here.

!ut did you know that even regular items like milk and milk products, fruits,vegetables, pulses, edible oils and spices... which can be easily produced ormanufactured in India... are imported and sold locally in IndiaA

In addition to these, we also have other imports like the necessary crude oil and ourbeloved gold.

India and -hina are the biggest consumers of gold in the world at present competing

for the top spot. nd India imports nearly 45: of its crude oil re1uirement.

!ecause of all these factors, our imports have gone way past our eports putting anetra burden on our economy.

%hart 5' %(* (s ( ercentage Of 4* tood 6orst $n "7&0


(ccording to )B$, during the & months up to 8arch 9&0, our importse2ceeded our e2ports by a whopping :;


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/ow, you askA

$ell, the government is now going overboard in their efforts to lower the country'simport bill as 1uickly as possible.

"ou may know that there was a proposal from the +il 8inistry recently to close 0etrol0umps from 4pm to 4am to reduce the usage of petrol and diesel.

he import duty on gold has been hiked = times since Banuary this year, making itcostlier for the common man. nd banks have already stopped selling gold coins and

bars.

0lus, there was also a notification issued recently to *+ permit import of flat paneltelevisions (;-DE ;&DE 0lasma) as free baggage at the airports anymore, and imposea duty on them.

nd frankly, we think this is ust the beginning... and many more restrictions could beput in place in the days to come making lives difficult for all of us.

But while all these things are ig concerns

none of them come close to the BI""E#T threatyour finances face right now$ $ $

;isten...

6e now ha#e strong reasons to belie#e the go#ernment will be comingafter 7O+) money to pre#ent the financial situation from worseningfurther and also keep funding their #oter-friendly schemes.

In fact, this is already happening# 8ost people ust don't realiFe it yet.

nd with the passage of time, even more new ways will be invented to reach into yourwallet, make you give up your hard7earned money, and erode your family wealth builtover generations.

he outcome of thisA


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It will slowly diminish all personal spending as well as saving

he economy will go into a limbo

8illions of families across India will be forced into hand7to7mouth eistence

aving for children's education will become a nightmare

!uying property and homes will be unimaginable for most people

nemployment will shoot up

"our business or the company you work in will be forced to close due to lack offunds

nd the list goes on and on.

imply stated, everything will be far worse than what we're already seeing.

Don't get us wrong 7 we are not saying all this to scare you.

6e are simply following the data and facts our research team has gathered

to their logical conclusion. $rrefutable facts that are a#ailable for anyone tosee in the public domain.

$e followed the same approach on numerous other instances before, either makingour subscribers money or saving them unnecessary losses.

nd we are doing the eact same thing again now.

o in this letter, we are going to present all the facts to you. nd once you see them, weare certain you too will agree with what we're saying.

/ere's more...

Why Indians should e %EA&&' worried$ $ $

;ook, it's no secret that India has always been a populous country.

nd this huge population, combined with the government's voter7enticing policies,have together led to a rapid surge in the country's debt in the recent years.


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!ut now the government's spending... and subse1uently our country's debt... are set to

eplode and become a lot bigger.

)s &,==5,>< crores...

hat is the estimated ependiture of our government for the year 952=723 as per thenion !udget.

nd guess whatA

siFeable portion of this goes into funding subsidies and other so7called voter7enticing7schemes which give little in return economically.

s you may know, subsidies are provided with the purpose of ensuring fair andimpartial utiliFation of the country's resources. Cor a developing country like India,they can help improve the living standards of the poor by making the items consumed

by them cheaper.

!ut giving subsidies also has a lot of drawbacks...

a. ubsidies received by the people often make them laFy and dependent on themfor ever

b. ubsidies can become a bargaining chip in the hands of the politicians as we'reseeing right now in India

c. here are malpractices and mismanagement in the administration of subsidieswhich leads to the subsidies not reaching their intended target or being siphonedoff by somebody else midway

d. nd finally, when a subsidy is given to one person, it places a financial burden onanother person

nd I'm writing to you now to show you how the burden of paying for other people'ssubsidies is going to fall directly on "+ very soon.

"es# o understand the magnitude of this threat, let's first take a look at all the welfareand subsidy programmes started by the %overnment and the ependiture incurred...

4o#ernment 6elfare 2penditure - Biggest poilsport "or The conomy


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Na)e Ty,e o* Pro-ra))e I! R$ b!

8ational ealth Mission -rban and rural healthproramme

>&>

Mahatma /andhi 8ational 3uralEmployment /uarantee 6ct

3ural employment scheme >>%

+arva +hi!sha 6bhiyan7ompulsory child educationproramme

$&>

4radhan Mantri /ram +ada!o@ana

3oad proramme to connectvillaes

$;%

Interated 7hild *evelopment+ervices

7hild development scheme ;&&

Indira 6was o@ana 3ural housin proramme ;5$

0awaharlal 8ehru 8ational -rban3enewal Mission

-rban development scheme ;?A

Mid *ay Meal +cheme9ree balance meal for children atschool

;>$

7lean Bater +cheme 3ural drin!in water scheme ;5>

Tota' R$ .(/01

+ource2 Ministry f 9inance (http2CCindiabudet.nic.inC)

hat's a total of Rs 2,@34 billion or )s &>3,;9 crores?

nd we're only ust getting started...

In addition to these schemes, the -entral government also gives subsidies which thepublic has gotten accustomed to, and the government simply cannot stop or reducethem drastically.

#usidies that cannot e sto((ed

Remember I told you how people can become dependent on subsidies foreverA


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he subsidy on oil is one such eample.

Cor many decades now, the Indian public has gotten used to getting petrol and diesel atsubsidiFed rates.

he cost of public transportation, the cost of daily use items, fruits, vegetables andnearly everything else is linked to the market price of petrol and diesel.

hat's why every time the price of these fuels is increased slightly, there's a lot of hueand cry and protests demanding rollback of the hike.

nd this issue is so sensitive it has even led to political parties walking out of coalitiongovernments.

o clearly, this is one subsidy that the government cannot stop or even reducedrastically.

nd the cost of this subsidy is set to skyrocket in the coming years.

The go#ernment is currently spending )s =5,999 %rores a year on oil

subsidy. But with the fall in the rupee #alue and increased usage, thissubsidy is bound to go up e#en more in the years to come.

nd naturally, some of this burden will be passed on to you as well.

o while we're paying around Rs 45 per liter of petrol now, the price could reach Rs255 or more soon.

!ut here's the most shocking part...

round =5: of the price we pay for petrol is comprised of > and ecise dutyimposed by the central and state governments.

If we didn't have these, or if these ta components were lower, then petrol (or diesel)would have been a lot cheaper for us.

o already, we are being charged a hefty amount for petrol and diesel in the name oftaes to fill the central and state government coffers.

nd in the future also, regardless of whether the international crude oil prices increase


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or the subsidies in India decrease, you and I will be the ones asked to cough up etramoney for it.

#usidies for (olitics

$e are pretty accustomed to seeing the government waive off farm loans andagricultural electricity bills worth millions before the elections.

$e are also used to seeing politicians promise to give laptops, grinders and what not ifpeople elect them to power.

!ut the recent Cood ecurity !ill can be considered the most ill7conceived subsidygiven with the election in mind in the recent times.

"ou probably know that the Cood ecurity !ill guarantees < kg of rice, wheat andcoarse cereals per month per individual at a fied price of Rs =, 9, 2, respectively... tonearly ?6: of the population.

he government estimates that the food security bill will cost Rs 2,93,69= crore peryear.

!ut economists of the %overnment's -ommission for gricultural -osts and 0rices(--0), who define the roadmap of agricultural policies in a research paper titled*ational Cood ecurity !ill 7 -hallenges and +ptions, have put the cost over a =7yearperiod at Rs ?,49,2?= crore.

he cost for the first year itself is proected at Rs 9,32,9?= crore... which comes to awhopping 23.


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nd then, the 1uality of our storage facilities is also a big issue.

n RI reply recently revealed that at least 26,


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+ource2 Ministry f 9inance (http2CCindiabudet.nic.inC)

(nd this e2penditure has more than @+(*)+L* in the last &9 years...going from )s 3>> billion in 990-93 to )s ,00; billion in 9&0-&3.

%hart


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(ays income ta-

Did you know that there are actually ust =.< crore income ta payers in IndiaA

$hich is ust about =: of the total populationA

o the truth about income ta in India is that many people don't pay income ta at all.

They either make less than the ta2 e2empted amount in a year. Or theyunderstate or hide their income so that they can pay less ta2 than they

actually ha#e to.

+ur finance minister, 0 -hidambaram, stated in his budget speech recently that hereare 39,455 persons 7 let me repeat, only 39,455 persons 7 who admitted to a taableincome eceeding Rs 2 crore per year.

o most Indians simply do not prefer paying taes.

nd even if a new ta is levied, there's no guarantee people will pay it.

$hich means that as the government ependitures increase and the revenues fail tokeep up, the etra burden will fall mostly on the sincere and honest ta payers.

Warning)

The collection agents

are already wor.ing overtime

8ost people don't realiFe it, but a number of new ways have already been devised andput into action to etract more money from normal people...

%ailway charges increased through indirect route)

During pril of this year, the railways after many years increased the passenger faresthrough an indirect route.

&ven though the basic passenger fares were left untouched, the railways increased

different supplementary charges like the reservation fee, superfast charges and atkal


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charges.

nd even the cancellation fee and clerkage charges were hiked.

0lus, it was decided that the final ticket charge would be in multiples of < only.

o e#en though the basic fares had been left unchanged on the paper,people like us now ha#e to pay more as the charges for e#erything else ha#ebeen increased.

nd since cancellations are also certain to happen for different reasons, we stand to

lose more when we cancel also.

hen on +ctober 6th recently, there was yet another increase in the form of fueladustment component (C-) which would be revised every ? months going forward.

o this will help the railways revise passenger tariff regularly, making your ticketcharges go up every ? months.

/unici(al odies increase (ro(erty ta- to oost revenues)

-haotic traffic, roads full of potholes, choked drains, overflowing and smelly bins, andstreetlights that don't work are common in any Indian city.

nd the reason for this is the same in most cases...

8ost of our municipal bodies are cash strapped, struggling to ust pay their employees'salaries, and spend minimal amount on development work, if any at all.

Cor instance, as reported by leading news daily, he imes of India...

he !ruhath !angalore 8ahanagara 0alike (!!80) has outstanding bills of Rs 2,=55crore as on Buly 2@, 952=.

In %oa, the 0anai -orporation depends entirely on the government for staff salariesand other epenses.

nd the list goes on and on.


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o the municipal bodies in many towns and cities are targeting localresidents with higher property ta2es not for de#elopment, but just for their

sur#i#al.

"es, to obtain enough money for their salaries and pensions.

he 0impri -hinchwad 8unicipal -orporation (0-8-) in 0une aims to increase itsrevenue from property ta, water ta and building permission departments.

he urangabad 8unicipal -orporation (8-) is planning to introduce value7basedproperty ta system in the city as it would get them higher revenues... in contrast to the

property ta collected based on the carpet area irrespective of the location the property.

In hiruvananthapuram, the overall ta cost borne by the purchaser of a newapartment including service ta, >, stamp duty and ta on purchase value of theapartment ranges anywhere between 9< per cent and =5 per cent of the apartment cost.

0ower com(anies charge e-tra ill for electricity used 1 or + years ac.)

he 0ower -ompanies in ndhra 0radesh came up with a new way to etract moremoney from power consumers...

Imagine you used G units of power in a month, and paid the full bill amount for itsubse1uently.

hen after 9 or = years, the electricity authority comes back to you and says themonthly bills that year did not consider the actual cost of fuel... and hence they will be

collecting that additional fuel cost from you in your upcoming bills...

hat is eactly what the ndhra 0radesh &lectricity Regulatory -ommission (0&R-)has done time and again.

his etra component in the bill is called the Cuel urcharge dustment (C).

!ecause of C, consumers received inflated monthly bills when they were alreadycash7strapped due to constantly increasing prices.


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!ut many people think the C is actually being used to cover up various other costs,administrative inefficiency and lack of planning to tackle the continuously widening

demand7supply gap.

nd this is not ust the case in ndhra 0radesh. he power companies in /aryana arealso following the same approach.

(nd the worst part - the fuel surcharge for the Afree powerA gi#en tofarmers earlier will also be borne by other general, non-agriculturalconsumers now.

o in other words, you'll be paying fuel surcharge even for the power you did not use#

#ervice ta-es on eating outside)

nlike income or wealth taes which are payable only if you have income or wealth,service ta is levied on ependiture and is applicable to everybody.

+ver the years, the rate of service ta has increased from


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nd there's more...

Higher ta-es on entertainment)

$e have already seen ticket prices in cinema halls and multiplees rise significantly inthe recent times. nd one of the big reasons for this is the entertainment ta on movietickets.

his ta falls under the purview of the state governments, and different states chargedifferent amounts.

$n 8aharashtra for e2ample, the entertainment ta2 on tickets up to )s 59is 35 of the gross ticket #alue. 6hereas for a ticket priced abo#e )s 599,the entertainment ta2 becomes 53.

In addition, the government has also allowed theatre owners to collect Rs 22 as servicecharges on all tickets, up from Rs ? earlier.

o this will only make entertainment more unaffordable for the common man, sendingcinema halls and multiplees into losses very soon.

part from this, the Indian government has also made digitiFation of cable connectionsmandatory in the 3 metros to bring in more revenues.

nd at the same time, the import duty on set7top boes was more than doubled to 25per cent.

o even though this makes the set7top boes costlier, people have no option but tocomply and buy them.

/ore ta-es right from the time you start to ecome rich)

tarting from the C" 952972=, business people are re1uired to provide details of theirassets and liabilities while filing their income ta.

$n fact, not just business people, e#en professionals who earn more than)s 5 lakhs in a year need to mention all their assets including land,buildings, bank accounts, shares and securities, cash ad#ances, #ehicles,

insurance policies, jewelry and paintings.


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he purpose of this is to increase $ealth a generation.

If you've provided details of certain assets in the I form, but haven't paid the $ealtha for any of them, you will be called to do so later.

here's a 2: $ealth a if the market value of certain assets eceeds Rs =5 lakhs rightnow.

nd since rich people receive substantial income by way of dividends from shares andmutual funds, the government is thinking about levying a 25: ta on dividend income

in ecess of 2 crore.

ntil now, these dividends were ta7free to the investor as the company distributingdividends pays a dividend distribution ta at the rate of 2


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*ow, even though this transaction happened outside India, the Indian government

insisted that the transaction involved the sale of Indian assets, and hence >odafone hasto pay H9.< billion in capital gains ta as per &rnst "oung.

In addition, the government also issued a retrospective ta amendment 7 dating back to2@?9 7 in order to catch the >odafone deal and others like it.

*ow the Indian government can probably be ecused for demanding capital gains taas the transaction involved an Indian company.

!ut issuing a retrospective ta amendment... that was a really bad idea, and it hascaused severe distrust in the business community.

Coreign companies are now thinking many times before purchasing a stake in anIndian company or coming to India to do business.

o nobody - be it the normal people or wealthy folks or companies - isshielded from this money collection dri#e of the go#ernment.

hen what can a normal working person do in a scenario like thisA

&specially at a time when the entire future looks uncertain.

India2s iggest advantage$ $ $

destroyed!

Cor many years, economists and policymakers around the world believed that India'shuge population would be an obstacle to its growth.

!ut then, they realiFed the actual truth...

India had at its disposal what so many countries could only dream of 7 a large numberof people in the working age group of 2


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nd this asset is what we call AThe *emographic *i#idendA.

imply put, the demographic dividend is the rise in the economic growth of a countrydue to increase in the number of working age people in the entire population.

!ecause of this, you have a larger number of people working to support a smallerdependent group.

nd as the number of dependents decrease, the working population saves more,contributes to higher investment, and therefore to higher %D0 growth.

he demographic dividend claim gained a lot of credibility during the 2@@5s.

he I industry grew in India buoyed by the availability of large number of cheap,educated, &nglish7speaking workers.

alaries shot up rapidly, and normal people could afford to save more and spend more.

The B%IC re(ort of 133+ and

the ra(id surge in false e-(ectations$ $ $In +ctober 955=, in its article titled Dreaming $ith !RI-sJ he 0ath to 95A

his statement literally opened the floodgates to foreign investments in India.

-oupled with increased spending from the Indian government, I, manufacturing,services and a lot of other industries also got a huge lift.

he stock market took off, and so did real estate and a lot of other industries. 0eople allaround the globe were etremely confident about India's prospects.


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ee, there were mainly = things in favor of IndiaJ

a. he capital re1uirement per worker in India was less than that in the developedeconomies, thus giving higher returns on the money spent

b. here was a possibility of employing technologies used elsewhere but not yet inuse in India to achieve rapid growth

c. nd what placed India in a better position was that it had the largest percentageof young people... in contrast to -hina, which was dealing with a great number ofelderly people due to their population control measures and other issues

/owever, as with any natural resource... or in this case, human resource... India neededto put certain mechanisms in place to make the most of its demographic dividend.

But this is where India has failed adly$ $ $

here are 3 areas where the government has failed miserably in tapping thedemographic dividend advantage...

"ailure C&' $ncreased labor supply not e2ploited fully

Dust ha#ing more workers will not do anything for the economy. Thego#ernment has to find ways to make use of them producti#ely.

!ut in India, there are millions of people with no obs. &ven educated youth with all there1uired 1ualifications are either obless or working in below7par obs.

nd then, there are people who have obs in the literal sense of the word, but the

reality is something totally different.

ake the case of a security guard sitting at an 8...

/e sits there every day (or night)... 4729 hours at a stretch... bored and deected withhis ob but unable to do anything about it.

nd on top of that, he gets paid a pittance to show for it at the end of the month.

$ith his salary, he is neither able to make ends meet, nor able to contribute to the


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economy in any way. If anything, he will depend on the government for more subsidiesand handouts#

nd there are literally millions of people like him employed in odd obs throughout thecountry...

emporary workers who are the least paid and first to get fired

gricultural laborers who work in numbers greater than re1uired on a single task

8*R&% (8ahatma %andhi *ational Rural &mployment %uarantee ct)workers who get work for ust 255 days a year out of =?< days#

o this is India's first failure.

"ailure C' $ncreased capital used up in distributing freebies

s the number of dependents decreases, people find it possible to save more leading togrowth in the overall capital in the economy.

!ut again, the government has to find ways to make good use of this increased capital

to boost growth and productivity.

1owe#er, in $ndia it has been the e2act opposite with the go#ernmentsplurging money on subsidies instead of on building infrastructure.

0opulist schemes doled out ta payer money as if it grew on trees#

nd because of this, the government faced severe scarcity of funds, many proects gotstalled, few new obs were created, and the result is there for all of us to see now.

o this is India's second failure.

"ailure C0' $ncreased human capital migrating to foreign countries

s education rates rise, we even have more educated women contributing to theworkforce.

nd lesser number of children at home means parents can invest more resources perchild, leading to better healthcare and education for the children as well.


29/57

/owever, the important thing again is that the government should find ways to makeuse of this increased human capital by providing them good opportunities in India

itself.

But because this has not happened, many educated $ndians are choosing tolea#e $ndia and work abroad in countries like the + and the +E, as theycan find more jobs matching their !ualifications and also higher salariesthere.

o this flight of talent is proving to be etremely damaging for India, and it is India'sthird failure.

"ailure C3' $ncreased domestic demand trampled by rising li#ing costs

;esser number of dependents coupled with higher salaries brings about an increase inthe disposable income, and thereby a demand for different types of products andservices in the domestic market.

1owe#er, what we are seeing in $ndia is that despite increase in demandfor #arious products, people are opting to delay purchases and in#estments

and cutting down on their spending due to the constantly-increasing costof li#ing.

gain, this doesn't help the economy in any way at all, because the benefit ofdemographic dividend can only be obtained when people save more and spend more inthe economy.

o not being able to control rising prices to enable greater consumption is India'sfourth failure.

Why millions in India will continue to suffer$ $ $

*ow there are = main things stopping us from making the most of our demographicdividend.

nd given that these are not something you can rectify overnight, the impact is boundto be felt for 1uite some time into the future...

a. Lack of education'


30/57

s per the 9522 stats, 969.@< million people in India do not possess even theminimum basic education and can be considered illiterate.

s per a leading news daily, *&-+ in its &ducation Cor ll7%lobal 8onitoringReport finds that India still has the highest number of illiterate adults in the

world.

he report says, In rural India, ust 94 per cent of grade = students couldsubtract two7digit numbers and only a third could tell the time.

$hile also adding, +n current trends, the world will be less than halfwaytowards this goal by 952


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It's no secret that the ervices sector contributes more than half of India's %D0

right now.

But according to results from assessment tests administered by theFational (ssociation of oftware and er#ices %ompanies, a tradegroup,


32/57

he Cederation of Indian -hambers of -ommerce and Industry (CI--I) recentlyconducted a survey among companies to know what they thought about the current

scenario in India.

It was discovered that the business confidence has fallen to the lowest in 26 1uarters.

he participating companies were not too optimistic about the near7term performance,as the falling rupee has affected their input costs and lowered their profitability.

nd ?6: of the participating companies said that they do not intend to hire in the nearterm and their workforce is epected to remain at the current levels.

his shows that the chances of seeing a dramatic improvement in the ob situation arebleak.

nd it will lead to a scenario where = things are almost certain to happenJ

5o 6os)

(ccording to another sur#ey jointly conducted by "$%%$ and rnst G

7oung, e#en though o#er 39 million people are registered in employmente2changes, only 9. million get jobs e#ery year.

It's true.

$e have seen hundreds of candidates attending an interview for one ob.

$e have seen 1ualified candidates not being able to find obs with salaries matchingtheir 1ualifications.

$e have seen companies struggling to find candidates in a country with millions ofworkers.

o the employment scenario on the whole is very bad.

s per the latest $orld Development Report by the $orld !ank in 9529, India's youthunemployment 7 as a percentage of the youth work force 7 was @.@: for males and22.=: for females in 9525.


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In other words, every 2 in 25 among the Indian youth is unemployed#

nd the government can now blame the current economic conditions for the lack ofobs.

!ut as per he 8int, while during 2@@@79553, the %overnment created ?5 million obs,whereas during 95537955@ the %overnment created ust 9.6 million obs when theeconomy was doing a lot better.

nd besides the lack of obs or widespread unemployment lurking in India, the eistingemployment numbers are nothing but an illusion.

/ave a look at the chart below.

%hart ;' *estruction of @uality Dobs

*ata +ource2 /overnment f India (http2CCdata.ov.in)M+4I (http2CCmail.mospi.ov.in)

o the 1uality obs created per year stand only at little more than =5: of the total obcreation. $hereas the remaining 65: obs are casual or low 1uality obs.

nd if the government couldn't create proper obs when the economy was booming, thechances of that happening now are indeed very slim.

Costly food)


34/57

+nion prices touched an all7time high of Rs 45 recently. !ut did you know that since9553, the onion prices have risen by a whopping


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7naffordale housing)

+ver the years, rising incomes, rapid urbaniFation, rent control laws and developmentrules that restrict housing supply in the large cities have ensured that the house priceskeep going up and up.

(ccording to data from the 4lobal roperty 4uide, an organization whichcollates real estate data from across the world, $ndia has witnessed thesharpest increase in real estate prices in the last couple of years.

he home prices in Delhi alone have risen by ?5: ust in the past 9 years.

nd the prices in !angalore, -hennai, 8umbai and Baipur too have risen dramatically.

*ow there are = reasons why Indians have continued to buy real estate despite the highprices...

2. raditional Indian society encourages home ownership

9. /igh inflation has made real estate and gold more attractive than financial assets

=. %ood returns from real estate have attracted speculators and *RIs looking to fliphomes for an easy profit

!ut given the rapid surge in home prices these days, buying a home is set to becomeimpossible for normal folks in the near future.

hink about it 7 if an apartment is going to cost Rs ?5765 lakhs, saving the initialamount for a home loan itself will take 8*" years with the prices of everything

increasing continuously.

nd the worst part is that the government has also introduced the new ;and billrecently which will push up the prices even more.

ccording to this bill, the compensation for the land must be 3 times the market valuein rural areas, and 9 times the market value in urban areas.

o the real estate developers will automatically pass on this increase to you.


36/57

/owever, the main worrying thought like I said, is of the government coming after"+R money when the prices of everything are increasing continuously and the

situation is already very bad.

'our ta-es are aout to get igger

much igger!

Did you know that the entry level income ta rate in 2@4


37/57

everything else also simply looked comparatively much better.

his was the reason why many *RIs 1uit their foreign obs and moved back to India.nd even multinational companies sent some of their eecutives to India to build andimprove their business here.

!ut today, the scenario is entirely different...

he growth of the economy has almost halved, people are unable to find good obs, andlife in general has also become worse.

s per a news daily, a recent -II7& survey showed that confidence levels of youngIndians are probably the lowest in the 957odd years since 2@@2.

= out of 3 young Indians feel the economy is worse than after the 9554 global crisis.

In addition, more than


38/57

s a result, many people who moved back to India in 9554 with big epectations arenow going back to the $estern -ountries as they can get a better standard of living and

a more evolved corporate life there.

$hereas in India, everything ust appears to be heading south...

Even your savings are 58T safe

If you're thinking that you have lakhs of rupees saved in your bank accounts and yourfamily is safe, think again.

;ook, it's no secret that a retail borrower... a normal Indian... has to make his lifemiserable to ac1uire a loan of even Rs < lakhs from a bank.

!ut when it comes to corporate borrowers, it's a totally different story...

The banking and financial ser#ices secretary, )aji# Takru, a few monthsback came down hea#ily on bankers for lending to corporates recklessly,which has now led to a significant rise in bad loans.

/e said, !anks' first ob is to protect the deposits of the account7holders who placetheir hard7earned savings with the bank. here is no scope for reckless lending. $edon't epect it (from any of the banks). he balance7sheet of the company (borrower)has to be checked properly before conducting a credit appraisal.

he best eample of this is Kingfisher irlines, which owes nearly Rs ?,


39/57

contain an overwhelming 1uantity of bad loans.

8any restructured loans are now turning into non7performing or bad loans.

nd in case of tate !ank of India, the biggest government7run lender, the proportionof restructured loans that has become non7performing has risen to 9?: as per !I's1uarterly results#

%BI totally hel(less$ $ $

$hen Raghuram Raan, the new %overnor of R!I, set out to deliver his maidenmonetary policy, he was faced with = big issues 7 high inflation, falling rupee andstuttering growth.

/e chose to keep the inflation under check by increasing the interest rates.

Raan said in his mid71uarter policy review statement, he need to anchor inflationand inflation epectations has to be set against the fragile state of the industrial sectorand urban demand. Keeping all this in view, bringing down inflation to more tolerablelevels warrants raising the repo rate by 9< basis points immediately.

But you can/t help but ask - if increasing interest rates could curb inflationeffecti#ely, why hasn/t it been successful so many times beforeH

he R!I has hiked interest rates numerous times in the last = years, including the veryrecent hike on 9@th +ctober, 952=. !ut the inflation shows no signs of abating.

+n the contrary, repeated hiking of interest rates has made money harder to get bothfor individuals and companies, and thus had a demoraliFing effect on India's

competitiveness, economy and growth.

"es, see this chart...

%hart &9' $ndia/s roding 4lobal %ompetiti#e $nde2


40/57

+ource2 the Borld Economic 9orum (www.weforum.or)

$hile -hina's competitiveness rank improved from


41/57

9556754, are now estimated to serve imports for only about 6 months.

nd the vote7bank7friendly schemes like the Cood ecurity !ill further burden oureconomy at a time when our oil import bill is already touching the skies.

The truth is that our domestic and foreign debts are already at all-timehighs.

Cirst, our domestic debt has D+!;&D since 9556754....

%hart &&' *omestic *ebt Burden $ntensifies


hen our foreign debt too has ;8+ LDR0;&D from 955= to 952=...

%hart &' $ndia/s 2ternal *ebt Burden


42/57


o clearly, the situation is not very good.

!ut like I said, what's even more scary is the government's newfound aggression ingoing after people's money.

!ecause of this, the normal Indian is at a serious risk of watching his entire way of lifeas well as his livelihood getting wiped out.

o simply stated, the go#ernance in $ndia has gone from bad to worse. (ndthe $ndian 4o#ernment has made life so miserable for the normal peoplethat they might actually ha#e to think about shifting to the 8oon?

$e call this scenario the &nd of India.

!ecause it is the normal Indian who keeps our economy running.

nd when the normal Indian gets decimated, India gets decimated.

Here2s (roof$ $ $

M )eal estate properties remain unsold in many cities

Increasing prices and the falling economy have led to properties going unsold in many

cities.


43/57

(ccording to property research firm Liases "oras, close to =


44/57

in $ndia fell to a &9-year low recently.

nd the domestic revenues of Indian C8-% players grew at ust 22.@: in eptember952= 1uarter, the lowest in the last 2? 1uarters.

he slowdown has been greater in the urban areas due to higher price rise there. !utthe impact has been felt in the rural and other areas too.

ccording to -ompany managements, this is due to people making deep cuts inspending because of high inflation and consumer sentiment that things might get a lot

worse.

s a result, even discounts and price cuts are not lifting sales much now.

nd this isn't happening in ust these = sectors.

I can really go on and on about this.

nyway, my point here is...

$t is in#estments and spending by the regular $ndians that keep the countryrunning. (nd now, the regular $ndians are being left with no money tospend on anything other than their sur#i#al.

nd that's why we say 7 he &nd of the *ormal Indian is actually the &nd of Indiaitself#

What2s li.ely to ha((en in the near future$ $ $

bsence of personal spending can only lead to one outcome...

he death of the domestic economy#

nd what impact will this have on the societyA

a. $ncrease in crimes '$e're already seeing an increase in all types of crimes inthe country today. 8any educated people, and even post7graduates, are endingup obless today. nd with further obs losses, we will have even more people

wandering on the streets without work and without anything to do. nd as they


45/57

say, n empty mind is the devil's workshop#

b. ocial unrest 'lready, there is a lot of discontent and helplessness amongpeople with the way things are going on in the country right now. s the situationgets worse, it will lead to social unrest and fights on maor and minor issues andscuffles over the country's resources.

c. Ficest of streets turn into slums '$ith many local bodies surviving entirelyon government handouts, the maintenance work will take a severe hit.+verflowing bins, roads with potholes, streetlights that do not work and chokeddrains will become a commonplace, turning even the nicest of streets into slums.

d. Loss of trust in the go#ernment '8any Indians have already lost trust in thegovernment because they rarely do anything that benefits the normal people.hey are busy either doling out freebies, or fulfilling their own selfish interests asevident from the numerous scams we have seen. nd as the situation deterioratesfurther, it will easperate the common man even more and lead to an open revolt.

e. $ndia as a democratic nation will fail '$hen the situation goes completelyout of control, the government will be left with no option but to recommend an&mergency in the country. It has happened once before during the Indira %andhi

regime, and it can definitely happen again.

o this will lead to both, the nd of the Formal $ndian and also the nd of$ndia as we know it.

7# shuts down

India to follow suit?

I'm sure you've heard of the hutdown in the recently.

he government shut its non7essential services as its new budget could not beapproved by the last date and the government ran out of funds.

!ecause of this, around 455,555 government workers were sent home on unpaid leave,government services were slashed, and monuments such as the tatue of ;iberty,museums, national parks and Foos were closed.

+nly the essential services like 8ilitary, 0ostal, ocial security, 8edicare and a few


46/57

others were continued.

$idespread unemployment and not getting paid on time meant that people could notspend as much in the shops... which in turn led to slowing down of the domesticeconomy.

nd naturally, meeting essential financial commitments like mortgages and credit cardpayments became a big problem.

Fow what we need to understand here is that the + shutdown was theoutcome of a political warfare... a battle to gain the upper hand between

two political groups.

!ut that is something we see every single day in India, isn't itA

In the last few years, political wars in Indian politics have only created more and moreroadblocks for the economy and the industry.

$e have already seen political attempts to block CDI in retail, a political party backedagitation against allotment of land to atas in ingur, delay in clearances to numerous

proects for political reasons, and the list goes on and on.

o, what if a political deadlock one day leads to a shutdown in India alsoA

+r what if the government simply spends so much in a bid to boost its popularity thatthe treasury becomes near empty and recovery impossibleA

We may not want to elieve something li.e this can ha((en

ut it is more li.ely now than ever efore$ $ $

+ntenable projects and unproducti#e e2penditures are pro#ing to be thebane of the $ndian economy right now.

Cirst, the government launched the improperly planned Cood ecurity !ill that willliterally cost a fortune to implement every year and distribute subsidies even to those

who don't need it.

fter this came the ill7conceived ;and c1uisition bill which will make the process of

ac1uiring land for business a longer and way more epensive process, stifling industrial


47/57

growth and investments even more.

nd finally as per a news report of the &conomic imes, it was the announcement ofthe setting up of the eventh -entral 0ay -ommission (-0-) to increase the salaries ofaround 45 lakh government employees and pensioners in India.

o we see a ;+ of ependitures ahead and a ;+ of debt, but hardly any incomesources that India can rely on.

he government has set a disinvestment target of Rs 35,555 crores for this financialyear. !ut all it has managed till now is Rs 2,3=3 crores.

otal ta collection during the period pril7ugust 952= was Rs =.2 trillion, which is9


48/57

If things indeed get that badJ

$ill the government then be able to maintain at least the critical services like the government didA

$hat will happen if another set of population goes unemployed or without paywhen the unemployment stats are already so highA

$ill our banks be able to manage if people delay their mortgage or credit cardpayments when they already have a high percentage of bad loans on theiraccountsA

$hat will happen of crime control or healthcare in such a scenarioA nd lastly, what if the Indian government is left with no option but to come after

"+R money in a situation like thatA

(s per news reports, a few weeks back the )B$ sent letters to some of thecountry/s richest temples asking for details of their gold.

$hile the -entral !ank said the in1uiries were simply for data collection, many peoplefelt that it was an attempt by the desperate government to usurp the temples' gold

reserves built over hundreds of years.

nd if the government can go after the gold in temples, then what's the guarantee theywon't come after your gold or your money when all other options are ehaustedA

&ven the thought of that is very scary, isn't itA

hat's eactly why you need to be prepared.

o is there anything you can do to protect your money when things really get badA

ctually, there is...

&LI"8&R has done etensive research on this issue.

$e have found that if you're willing to do some very simple things, you can not onlyprotect what you've got from this threat, but also make money as these events unfold.

;isten...


49/57

%iven the current alarming situation, it'd be foolish to epect any 1uick7fi solutionsto this problem.

!ut if you stick to a proven plan and be patient, you can get through this difficult phasewith minimum damage... and also possibly make some good gains to show for it.

"es, here's what we recommend...

What 'ou Can 9o to 0rotect 'ourself

and Actually /a.e /oney

$e are currently living in a time when fied deposits are giving negative real returns...

%old has become really epensive and hence not a viable investment like earlier...

nd the stock market keeps fluctuating by hundreds of points nearly every day.

o if you wanted to grow your wealth in a climate like this, what should you doA

$here and how should you invest your money so that it's not ust protected, but alsogives you siFeable returns in the years to comeA

hat is the 1uestion we try to answer in our latest special report titled,ABreakthrough trategies to afeguard 7our 6ealth during nd of $ndiaA.

nd this report is basically divided into three parts...

%T$OF &' +nderstanding the problem at hand clearly

&ven though people have been suffering from rising prices and increasing taes for1uite some time now, many of them don't understand the gravity of the situation fullyand think that things cannot and will not get worse than this.

/owever, that is far from the truth.

$e've showed you above how things are already getting a lot, ;+ worse for normalIndians.

eople are already paying much more in ta2es thinking that all is well. But


50/57

the actual situation is similar to that of a blindfolded man Ia sincereta2payerJ unknowingly walking towards the edge of a cliff Ia financial

crisisJ.

o in this report, we will clearly eplain what &nd of India is, and how it will impactyou and your family's finances.

$e will give you the complete picture, without holding anything back.

o if you thought your future was safe in India till now, you will change your opinionafter reading this.

%T$OF ' The right way to in#est using these troubled times

%iven the troubled times we are seeing right now 7 when even the government cameso close to defaulting on its payments 7 it's important that you ensure all your family'sshort7term, middle7term and long7term needs are properly provided for.

his way, you will be protected against all kinds of financial hiccups that may happenin the months to come.

*ow, being a stock research company, you might epect us to lead with stocks.

!ut stocks actually come only after you've made sufficient investments for your basicand near term needs.

$n fact, we ha#e listed 5 different asset classes into which your entirewealth should be di#ided.

"ou should allocate a specific percentage to each asset class 77 as indicated in the report

77 to minimiFe your risk and maimiFe your return.

oo much or too little of something will reduce the returns from your entire portfolio.nd also make your wealth more vulnerable to any financial shocks happening in thenear future.

If you're someone who is serious about protecting your family's financial future, thenyou should definitely be reading and following the approach given in this report.

If things get really bad, which is very likely from the way things are going on right now,


51/57

you will be better off than the maority of other people by following these simple steps.

nd if things don't get that badA

$ell, that's the best part... even then you will be in a much better position than yourfellow investors.

o you have everything to gain, and nothing to lose from implementing this.

%T$OF 0' (n opportunity to profit from this report right away

Cinally, there's also a bonus section in this report which you can benefit from rightaway.

If you act on it, of course.

$hat's in this sectionA hat we will tell you only in the report.

!ut it's something that could help you both protect... and grow... your wealth duringthe uncertain times we're seeing right now and will continue to see in the near future.

How you can get this re(ort$ $ $

he entire purpose of creating this report was that as many people as possible read itand prepare themselves for the threat ahead.

o don't worry, we will give you this report absolutely CR&

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Returns obtained from good companies in the long run are often unmatched whencompared to returns from anything else.

ome of our recommendations in the long run have given returns likeJ


52/57

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$ell, as you may know, we are not stock brokers.

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