Likely that by the end of the month Rupee may go down to as low as 70 to USD . Meanwhile, INR crossed 65 mark and Finance Minister , P Chidambaram still assured there is no reason for unwarranted pessimism and that rupee is undervalued and has overshot the appropriate level. 🙂
Aal ij Well !! Aal ij Well !! 😉
Finance Minister P Chidambaram appealed for calm and requested people not to panic saying that the sharp falls in domestic markets that sent the rupee to a record low were a reaction to global developments after markets crashed on Friday and rupee hit a record low 62 to USD yet again.
As the Indian economy suffers under crisis, the government says it is fighting the slowdown with number of measures.Finance Minister, P Chidambaram is of the view that there are many countries with 0% growth rate while India is still maintaining 5-6 % growth and that was great. The Planning Commission Deputy Chairperson, Montek Singh Ahluwalia, said that a GDP growth of 5.7 per cent in FY14 would indicate that the economy is on a rebound.
Numbers are numbers. Aren’t they ? If numbers could give all the Indians two meals a day, we would have been the happiest economy.The ground reality is altogether different. You feel the pinch with the rising prices of the day-to-day things you buy while the earnings remain stuck at what it were an year back .
Thanks to the genius economists in the government , at least on papers, we will continue to grow. 🙂
Ratan Tata has backed Prime Minister, Manmohan Singh, stating he is not to be blamed solely for economic woes , the way the media, the opposition and some people from the alliance and party are speaking and writing about ! He said it is time that Manmohan Singh who was the architect of 1991 economic reforms needs to implement promised reforms by controlling crony capitalism and removing roadblocks on the way ! In recent past,Time Magazine had marked the PM as an under-achiever!
Well, was he pointing out at someone when he said removing roadblocks ? 😀
26th June is the scheduled date for Pranab Mukherjee to resign from Finance Ministry. At a time when our economy is in a shaky state and INR is unstable and has reached its lowest all-time value of 57 , who would be handed over the responsibility ?