Now that Rajan has been hounded out of office, maybe Swamy will help bring in a complaint person suited to his ideology. However, when is he going to fulfill his promise of abolishing income tax? He has shot his mouth off many a times in favour of this, but can & will he deliver?
In 2008,when US Economy/banks faced similar difficulty,America chose reduction of interest rates&rescheduled home loans/other loans.weshould learn from History of American recovery. C.Seetharam.Ex-director,MBA
Rajan was right in curbing inflation and retaining interest rates.The looters have had merry time siphoning off bank funds (of ordinary common people's deposit.SS does not have to worry for his living since he had many sources of income to take care of him but ordinary citizens/senior citizens money value will get eroded due to double whammy-low deposit interest rates and high inflation.who will take care them.Is it their fate to starve to death?
Swamy always maintained that Rajan was part of a Western coterie who wanted to dominate India's economy. Now that Mr Modi has announced FDI liberalization, isn't this domination more likely to happen ? Even obsolete tech may be manufactured in India . What does Mr Swamy have to say reg the NDA "sell out ? " He has no Rajan to blame now. Does he have the courage to speak out against those who have brought him up to some level of prominence ?
Re: Swamy on FDI
by gururaj upadhyaya on Jun 22, 2016 09:20 AM
But will foreign investors come to India when running their activity in their parent country itself is getting difficult. For e.g., in case of airline industry the losses that may be incurred by airliners could be huge if their plane meets with accident in low quality Indian airports. Hence, please don't expect the same kind of revolution that took place in 90's. Global economy itself is in bad shape. Even if 10% of what foreign investors promise actually comes to India it will be great. Hence, no need to panic. Under these circumstances having FDI is better than not having it, as something is better than nothing. As I keep saying Indian investors are the key. But for all this to happen, judicial reforms are even more important. Delayed resolution of cases in courts has given 'red tapism', corrupt practices a huge boost. Given this I am not sure how many foreign investors will be readily investing in India.
exit of politician rajan from rbi is batter for rbi health.style of rajan not as beurocrate but as boss of indian economy.daily meeting ,daily press confrence ,daily lecture on different point can not accepted by any govt.at last rajan is beurocrate. totaly unable for post.never any governor make statement on daily indian problems.
