Friday, March 04, 2011

Talk is cheap. Especially when coming from politicians.

New units of Indian Rupee
Government of India has decided that the new units of money measurement are needed.

The Symbol of Indian Rupee approved by the Uni...Lacs & Crores no longer work ~ too many zero’s to handle; we have to reckon with Lac crores, etc.
As part of globalisation, one unit which works best is $Bn. Makes it easier for all to benchmark against their local systems but for India another simpler system also emerges

New Units of Money

The huge amounts mentioned in the recent scams have an upside: they have given us convenient new units for communicating large figures:
New Indian Currency Units 1000 Crores = 1 Radia (10000000000 )
10 Radia = 1 Kalmadi (10000 Crores=100000000000)
10 Kalmadi = 1 Raja (1 lac Crores=1000000000000)
100 Raja = 1 Sonia (100000000000000)
This will make it easier for us tocomprehend and communicate large numbers.
For example:
* Anil Ambani’s new home in Pali Hill will cost Rs 4.5 Radias.
* India’s total annual subsidy on kerosene is Rs 2 Kalmadis.
* ONGC’s annual output is worth Rs 1.2 Rajas.
* India’s loss in the 3G scam is approximately Rs 1.7 Rajas.
* Poor Pramod Mahajan left behind only Rs 1.4 Radias.
* Indian corrupted people money savings in Swiss Bank is more than Rs 1 Sonia.

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