Like we mentioned earlier, we will be carrying out recap of 2011 on different subjects, so here is our second post in the series. Its good to take off negative news off the table first, and so here it is – The Top negative news of 2011 that millions of Indians sad and angry!
- 1 2011 Mumbai bombing
- 2 Stock markets crash to a 2 year low
- 3 Sathya Sai Baba passes away
- 4 India experiences tremendous fuel hikes
- 5 M.F. Husain passes away
- 6 Shammi Kapoor passes away
- 7 India falls in Global Corruption Index
- 8 Rupee falls to an all time low against the dollar
- 9 Corporate India shows bad signs of growth
- 10 Major restrictions placed on Indian Paypal users
2011 Mumbai bombing
Mumbai gained more notoriety for being a target of terrorist attacks again in July 2011 when 3 explosions went off in Dadar, Zaveri Bazaar and the Royal Opera House. 26 innocent lives were lost and the financial hub of the country once again, reeled in pain and faced the wrath of terror.
Stock markets crash to a 2 year low
Call it the big plunge or call it bloodbath, the stock market in India plummeted and closed at 15,699 on 23rd November 2011, the lowest close in two years. The Sensex also witnessed one of the biggest single day falls in nearly two years, of 704 points in February 2011.
Sathya Sai Baba passes away
Devoted followers and the country mourned the death of one of India’s most well known spiritual leaders. Sathya Sai Baba, 85, reportedly died due to cardio-respiratory failure. Well known personalities, celebrities and politicians payed homage to the spiritual leader at his home town of Puttaparthi.
India experiences tremendous fuel hikes
While fuel hikes in India are fairly common under political pretexts, they’re definitely not welcome. 4th November 2011 saw the fourth oil price hike of the year 2011, with an increase of Rs. 1.82 per liter. [Note: Here’s how you can beat the hike]
M.F. Husain passes away
M.F. Husain’s name is synonymous with the Indian art scene. The fact that Husain’s paintings were highly prized were not enough to save this artist from exile during which he spent the last few years of his life in Dubai and London. M.F. Husain died on 9th June 2011 due to a silent heart attack. He was 97.
Shammi Kapoor passes away
Dubbed as one of the most entertaining actors of Bollywood and a star of the 50s, 60s and 70s, Shammi Kapoor passed away on 14th August 2011. Bollywood mourned the death of this iconic member of the Kapoor clan who lost the battle to kidney failure.
India falls in Global Corruption Index
Corruption Index? Yes, a firm called Transparency International publishes yearly the Corruptions Perceptions Index in which India fell from 87 to 95. This is definitely not good news as India Inc tries to woo foreign investors with FDI in retail and is a big blow to efforts by the Anna Hazare movement.
Rupee falls to an all time low against the dollar
In a crushing blow to the Indian currency, the Indian Rupee plummeted to an all time low against the US Dollar on 22nd November 2011 at 52.50 to a dollar. While the ministries and governments are blaming uncertainties in foreign markets and expect the exchange rate to correct itself in the coming months, importers are facing the wrath of higher prices.
Corporate India shows bad signs of growth
Corporate India has shown single digit growth towards the end of the year. This has been the worst in all the quarters until now. Rising costs of raw materials, interest rates and commodities are said to be blamed for the same.
Major restrictions placed on Indian Paypal users
If you were merrily earning dollars through your Paypal account until now, the new restrictions on PayPal effective 1st March 2011 must have surely meant bad news for you. You cannot receive payments that exceed 500 dollars per transaction. Users must also transfer all the money received to their Indian bank account within 7 days.
There you have it – The top 10 negative news that Indians had to bear in 2011. We hope we do not have any additions to these in remainder of 2011 days. Let us know if we missed out any important negative.
Always remember, that these are our opinion about top negative news, you may have a difference opinion!