Indian economy is in dire straits. While double digit inflation has made the life of common man difficult, steep fall in value of rupee and a slump in stock market has shocked the investers. The foreign institutional investers have played a major role in this market slump. As per news reports, on a single day, yesterday, they sold shares worth Rs.1431 crores which led to the Sensex fall by more than a thousand points. It is really a Diwala for traders on the eve of Diwali.
Our imports are on the rise, while exports are stagnant and the gap between exports and imports is increasing. Most of the articles of our daily use have a foreign made stamp.
I am not an economist, but it is a matter of common sense that government must take action to curb imports and to encourage exports. Custom duty on foreign goods should be hiked and excise duties on the Indian goods should be lowered to enable them to compete with cheap imorted goods. Further, there ought to be some regulations for the foreign institutation investers.
These are really hard times for all of us. They say inflation has started declining, but I do not see decrease in price of any essential commodity- potato, tomato, seasonal vegtables, wheat, pulses, tea etc.etc. are costlier than they were a month ago.
Amid this unhappy economic gloom, I wish a HappyDiwali for all Bloggers and friends. May all your heartiest desires be fulfilled during this Diwali.
Our imports are on the rise, while exports are stagnant and the gap between exports and imports is increasing. Most of the articles of our daily use have a foreign made stamp.
I am not an economist, but it is a matter of common sense that government must take action to curb imports and to encourage exports. Custom duty on foreign goods should be hiked and excise duties on the Indian goods should be lowered to enable them to compete with cheap imorted goods. Further, there ought to be some regulations for the foreign institutation investers.
These are really hard times for all of us. They say inflation has started declining, but I do not see decrease in price of any essential commodity- potato, tomato, seasonal vegtables, wheat, pulses, tea etc.etc. are costlier than they were a month ago.
Amid this unhappy economic gloom, I wish a HappyDiwali for all Bloggers and friends. May all your heartiest desires be fulfilled during this Diwali.
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