.The "knee jerk " reaction, in the bourses all over, to the views expressed in US Fed meeting , the "hand work " of US based FIIs, is totally uncalled for. During such crisis in 1997 and earlier India was not affected sine only in the recent years FII were allowed in the Indian bourses and bond market. Its time the govts and sincere economist to reconsider the issue of having only $ as currency for international trades. The US economy is not as healthy as it's perceived or projected and its domination of international financial system only benefits US. Both Marxist and Capitalists economy have failed ensure "inclusive" growth and we have to draw our own economic system since we were No 1 in GDP till 18 th century.Govt should not curb Gold imports since it remains , as asset,with Indians and not taken out as FIIs do these days.
Major imports of INDIA is OIL & GOLD (80%), oil cannot be banned but gold can be, its right time to ban GOLD so that balance of payment gets positive, ifnot cost of oil will increase due to $ strength and inturn it will inflate the inflation, which will in turn increase prices of all commodities and this is all chain reaction, which will increase all manufacturing cost and then inflation goes up which will again devalue our currency and the same repeats, its all Chain reaction, hence BAN GOLD for TIME BEING UNTIL Balance of Payment gets Positive.
Whenever the ruling party in India at the centre was the congress party....The rupee Devaluated at a rate of 6% annually. And whenever it was a non congress party the rupee was either stable or its worth Grew.(During the janata rule as well as the Atal rule)
Re: Check it out
by paper india on Jun 22, 2013 10:09 AM
Really ? Also you failed to mentioned that since NAMO took over as Gujarat CM, the price of dhokla has gone down !
Re: This Had to Happen
by Anand sodo on Jun 20, 2013 06:17 PM
One Rupee was equal to 1 USD when yr dad was a kid...or may be not yet born... and today Rs 60 make one USD ...by the time you become a dad and your child comes your age....the rupee will have habe around RS 140 to the USD. Increading 4x every 35 years.! never to fall....because of our highly ACCLAIMED and EXPERIENCED POLITICIANS.
Re: 60
by Anand sodo on Jun 20, 2013 06:21 PM
The great ECONOMIST PM came in as Finance Min when the USD was roughly aroun Rs 18.50....Its for every one to see how MUCH India has gone down the DRAIN in the past around 22 years of the gr8 ECONOMIST!