Ms Naina Lal Kidwai is representing foreign bank HSBC and her bank was caught recently in the money laundering activities. She should ensure that her bank should not indulge in the activities which can adversely affect the intererest of India first and then can comment on the decision of RBI .
dr forbes in interview about declining indian economy n rupee, dr forbes replied First India should reduce the rate of Interest. Manufacturing Industry in India earns 6 percent where as bankers lend manufacturing industry 19 percent that means the capital erosion of 13 percent. really no company can give dividend. secondly the taxes should be from the earning of industry and on reserves. many taxes heads to industry. many FDI's declined to come to India because of confused policy. our finance ministry's can do a good job. budgeting huge expenditure to match revenues boosted by way of imposing lot of tax heads. corruption brewed in India, cast reservations breed more poor in etc., these incentives are temparory. long term should be to create productive employment like agriculture, industry, fishery, cheap natural products like petrol, energy, coal, telecom [ cmda is radio frequency no need of trai tax fee ] which made artificial price hikes in India. India can produce its needs but politicians to pocket the money encouraged to dependency on import of coal, petrol etc., upa governance is illiterate to handle such huge population, biggest democrocy in world with multy party systems. India strength is natural resources, population, culture, industry etc., due to illiterate[not acadimical] hyper active politicians still following what madam indira gandhi n nehru put petrol imports to pocket n fund elections, all dealerships given in 1950-60 to congress workers in india
Subbarao doesnt wilt under pressure from the finance minister. Mr subarao is more qualified than Ms Kidwai. He is from MIT and a IAS officer. what abour Ms Kidwai. The rupee has been falling since 2011, CAD and fiscal deficit was going up but no one cared. Suddenly these so called intellectual realised that RBI is wrong. Its better to take action rather than do nothing.
Re: RBI governor is more intelligent than Ms Kidwai
by Solomon S on Jul 20, 2013 09:30 AM
RBI is not addressing the real issue, it is just a manipulation for a short time gain
The real issue is the trade deficits, we import more and export less
