Saturday, January 17, 2009

Crony capitalism and Indian real estate

Why is government helping real estate companies hold prices high and continue to fleece the customers? Hope people see the irony, My tax money is used to support the rich real estate companies so that they can charge me higher prices. Same with the way RBI is forcing or helping banks restructure the loans taken by these companies, taking a risk on depositor's money, again consumer's money.

When asset prices have fallen around 40% around the world ( ET editorial), why it is not happening to Indian real estate? Why is government partial to an industry, unduly favoring their corrupt practices?

Favors to one company/sector/industry is Corruption. Crony capitalism is not fair.

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