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Links: Housing Index Gains, Foreclosure Crisis, Energy Up/Downs, Chinese PMI Slows

Karthik Shashidhar mentions the Capital Mind All India Housing Index in his post on how to calculate “disproportionate” income of politicians. (LiveMint)

To get even more granular data, the Residex has section wise indexes for each city, which can be used to figure out how much one should have gained. Having said that, Capital Mind’s data doesn’t yet provide it – we’ll add it very soon.

EPFO allows people to draw more than their balance; losses upto Rs. 1000 cr. (LiveMint)

Someone please tell us we don’t have “sucker” written on our foreheads. You cannot draw more than your balance from the EPFO, if you’ve ever dealt with them. It’s more likely that the money has been siphoned off by EPFO employees, and they’ve planted negative balances. Apologies for Kejriwalling (putting accusation without evidence).

Dying Memphis Neighborhood Foretells Next U.S. Crisis (Bloomberg)

Buying a house for $3,000, no matter in which city in the US, sounds quite attractive for an Indian urban resident! But no, says the RBI, you just cannot. The link is about a book, The Seven Sins of Wall Street.

Supply of Coal Eases Due to Low Demand (BusinessStandard)
RIL wants Gas Pacts to be Annually Renewed, Gas at 10% above the $8.3 Accepted (

Two strange links on Indian energy demand. Gas has high demand, and RIL’s trying to extract as much money as possible. Coal has always been high on demand, but strangely states have not been taking away as much as they’d committed.

Chinese PMI Slows Down to 48.1 (CNBC)

Comes in even lower than the 48.5 in Feb, and it’s just a “Flash” PMI for now. However, the fact that manufacturing is contracting is a sign that the slowdown in China is real and their tightening is working.

Comparing Indian States with Countries, in terms of Population (Economist)

You think you know Uttar Pradesh until you’re told it has the population of Brazil, the GDP of Qatar, and the Per Capita income of Kenya. Goa, my dream state, is the population of Guinea, GDP of Malawi, and the per-capita income of Ukraine. I hope Russia doesn’t try to annex it.

  • Anshuk Jain says:

    RBI does not allow buying property outside?

    • Nope. The Liberalized Remittance Scheme doesn’t allow you to buy immovable property in that $75,000 per year limit. I suppose you can apply to buy property under FEMA but it will take a fwe years to get approved. 🙂

  • DJ says:

    Why can’t the RBI be sued for preventing people from doing commonsense things? What right does RBI have to prevent people from doing what they want to do? Why doesn’t it focus on telling the govt what it should or should not do, in order to not mismanage the economy, so that then it does not have to tell citizens to not do commonsense things?
    And, does the RBI really implement this rule, when we know that Bollywood people own houses in Dubai, etc? Did they apply and get approval first? Were they investigated?

  • Mehuul says:

    So, Lodha would have bought the UK property through some offshore subsidiary?

    • It’s different for corporates. The LRS is for individuals I think…corporates can invest if they have certain approvals in place…

      • DJ says:

        Percy Mistry puts it bluntly in this panel discussion (32 min mark)
        He says that the only people who face controls are the Indian middle and lower class residents, not the rich, not corporates, not NRIs, they can do as they please. I’ll say it again, the middle class needs to understand that RBI should be sued for this. If controls are important, why don’t they apply it to the rich and then see what sort of push back they get. Just because the middle class doesn’t understand financial policy, RBI does stupid things. We need people to demand better policy from RBI, or how about uniform policy (for the rich and the common people) to start with?

  • mangoman says:

    Why this kolaveri against Kejriwal?
    Otherwise you are making sense and talk nice but it comes to Kejriwal you are sarcastic.
    1. Is it wrong to attack corporate mafia?
    2. Is it wrong to try to change political system?
    Yes, he is trying to use media to his advantage, but what is the damage..who got affected due to that?
    Discouraging and more importantly ridiculing such people does show one in poor light…