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. š
Aal ij Well !! Aal ij Well !! š
Finance Minister PĀ ChidambaramĀ 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. TheĀ 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. š
The biggest issue in Indian politics is that we are always made to choose between the worse and the worst. Almost all political parties misuse their position and power once they get enough votes and support (with all hopes) to form a state or national level govt. If our political parties were to be ranked for scams and corruption, they would certainly top the list throughout the world.We are a country mismanaged almost since independence,looted and re-looted by our administrators and today we are dying out of options when it comes to selecting the right political party to govern the country for betterment.
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 ? š
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 ?
