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HindustanTimes Sun,20 Apr 2014

2011, A-Z: anatomy of economics

Hindustan Times   December 30, 2011
First Published: 21:48 IST(30/12/2011) | Last Updated: 02:43 IST(31/12/2011)

The year saw new phrases, terms, products and personalities that are likely to shape mainstream thinking in times to come.

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AAakash: A $46 (Rs 2300) tablet, a Nano in tech world, brought by NRI brothers Raja and Suneet Singh Tuli.

BBlackberry: Handheld service that failed for a couple of days in a global outage affecting millions of subscribers and hurting business
Black Money: An illegitimate cash economy that continues to thrive, move across exotic global locales and cock-a-snook at authorities.

CChorwad: A sleepy village in Gujarat where Ambani brothers, their families and mother Kokilaben prayed, danced and broke bread together for two-days.

DDo-not-disturb (DND): A number, 1909, to block pesky unsolicited SMSes offering to sell sundry items including pizzas and slimming belts.
Downgrade: Shorthand for loans those are risky. Moody's said it for SBI's portfolio; S&P said it for US government bonds.

EEuro zone: Economic crisis in Europe, triggered by sovereign debt worries in Greece, the cradle of the western civilisation.
EMI: Something that mostly goes up, up and up. Ask any home loan borrower. It only climbed in 2011 after banks and RBI continuously raised interest rates.

FFlipkart.com: The art of hawking products online and the science of driving billion dollar valuations for internet start-ups.
FDI in retail: Policy that promises to enable you to shop, shop till you drop in a giant deep-discount superstore in your city.

GGDP: Income of all entities in an economy whose collective earnings grew at a slower clip, threatening to slip further in the coming months.
G: Generations of radio spectrum for telecom services counted in numbers: 2G, 3G, 4G…controversies in allotment and usage come bundled free

HHero: India's very own two-wheeler maker, sans technology, branding, or capital of Honda. It's only Hero now, not Hero-Honda that used to be.

IInflation: A monster that the RBI and the government are struggling to tame in a tug-of-war between rising prices and sliding growth.
Infosys: Change@30 years as NR Narayana Murthy logged out of the software company that fuelled aspirations of millions of middle-class Indians.

JJobs, Steve Jobs: Technology icon who gave the world the iPad, the iPhone, the iPod and the iTunes. Died in October 2011 after losing a battle with cancer.

KKingfisher: A winged entity that failed to take off for many days on low fuel ahead of winter's onset, leaving those who fly on it unhappy and angry.
Kahn, Dominique Strauss: Former IMF boss who bowed out in disgrace facing sexual assault charges that ruined his ambitions of becoming French president.

LLagarde, Christine: French finance minister who succeeded Strauss-Kahn as the IMF chief, but not before a continent-hopping global canvassing spree.

MManesar: Synonym for labour unrest as hundreds of Maruti Suzuki workers struck work in a plant, halting production including that of popular hatchback Swift.
MFN: A status that Pakistan has agreed to give India after more than 15 years of dithering offering equal treatment in terms of tariffs and quotas.
MNP: A telecom customer's right to retain her mobile number but change the company if she is unhappy with the quality of services.

NNoida Extension: A neighbourhood on the eastern borders of the national capital for which farmers and realty companies slugged it out in courts.
NOTW: Cost of sniffing around. Rupert Murdoch was forced to close down the popular News of The World (NOTW), hit by a hacking scandal.

OOpen letter: The genre of collective writing that reminds politicians about the art of clean governance and its importance on business sentiment.
Occupy Wall Street: A syndrome of public angst that spreads very fast against corporate greed, million dollar bonuses and social inequality.

PPolicy Paralysis: An ailment that has hit UPA-II, especially in the last 12 months, after repeated failures to move key reforms. Threatening to turn chronic.

QQSQT: Quarter-se-quarter-tak, a corporate stratagem in times of uncertainty that underline the risks of looking too much ahead.

RRupee: A buck that doesn't seem to stop falling in value after foreign investors cashed out diving to safer havens like US government bonds.

SSpeakAsia Online: A "Ponzi scheme" - a system in which new members enrich the old ones resulting in a fragile financial pyramid.
S&P: Credit-rating agency that downgraded US treasury bonds spreading a global flu in stock markets across the world, including India.
Sensex: A Bombay-based barometer showing erosion of investors' wealth as equity markets slumped nearly 12% over the last 12 months

TTata: Transition at Bombay House as Tata Sons chairman from Ratan Tata to Cyrus Mistry, with a 13-month leadership apprenticeship.

UUnder-recoveries: Revenues foregone for selling fuel at below cost that oil companies justify to raise petrol and diesel prices.

VVikram Akula: A one-time poster boy of microfinance and founder-chairman of SKS, who lost control over the very company he founded in 1998.

WWarren Buffet: A synonym for corporate philanthropy. Billionaire investor is coaxing the rich to pledge half their fortunes to charity visited India in 2011.
Walmart: American superstore waiting, almost endlessly, to set up its first retail store in the world's second fastest growing major economy.

XXUV 5OO: M&M's global cross-over vehicle with which it hopes to take on General Motors, Toyota and Ford worldwide.

YYen: A currency for the rainy day for Indian authorities if the rupee continues to crumble hammered by speculators and global economic crisis.

ZZuckerberg, Mark: Facebook founder who is out to prove that social networking is worth more than $100 bn (Rs 520,000 crore).

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