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Old March 5th, 2007, 07:07 AM
HarHarMahaDev HarHarMahaDev is offline
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Re: 2007 India Budget

Quote:
Originally Posted by rameshp
No one is against you just for stating facts. But please do so more objectively. Of all the things you mentioned, Inflation is the only new negetive fact that is 'new' to this whole analysis. The rest of the 'facts' have always been true to India that critics have been crying about for the past decade. Yet I see Indian economy flourishing year after year!
The facts, which are generally stated, are objective enough...I am not going to start posting pie charts and all (if thats what you mean by objective analysis)...the facts are true. Inflation, interest rates, taxes are all headed upwards..it is not a figment of my imagination. So I don't know what you sarcasm you intend to convey by using quotes around the word 'facts'.

Inflation did not happen overnight. There is nothing 'NEW' about it. Inflation is about increase in money supply and I believe I have been stating that India's M3 supply has been out of control in several other threads. Inflation is going to continue to wreck havoc in India, because money supply has not reduced, but increased dramatically.

But a new phenomenon is emerging. Japan is raising interest rates, which is putting a crunch on global liquidity. That is going to put heavy selling pressure on the Indian stock market. And gradually, as money gets pulled out of the bourses, the bubble will deflate...when that happens, dont say that I said something 'NEW'.

The 'economy is flourishing' argument is simply government eyewash. You may choose to believe the government rhetoric and support them all they way while they lead the country into a gutter.
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