Our finance
minister P. Chidambaram(PC) has been the face of Govt. defending the economy
and calming the nerves of market. Rupee depreciation, which began in late May
this year, is in no mood of turning around, in spite of various steps taken by
RBI & assurances by PC. He has been trying to calm the market nerves almost
every day, he is ‘said more than done’, due to which Re has touched life time
low of 68 on 28th Aug.. Mr. PC be clear that ‘MARKET IS NOT A FOOL’,
u work on the basics & market will respond accordingly, be sure that we cannot
run export-import imbalance of 150-200 bil. $ year on year, when total exports
is just 300 bil. $. Imbalance in the domestic production is not only affecting CAD,
but also inflating prices, which is dragging the investment and economy.
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