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More Stories Given the rate uncertainty in the near future, the tax-efficient FMPs may be the right choice. Here's how to pick the right ones. The govt of India, through its incredible bureaucracy, has retarded economic growth in the last 20-30 yrs by at least 3% pa in real terms, says Faber. "The bear market started in 2008. We are now seeing the beginning of it becoming a true bear market as opposed to being a stealth bear market." After Goldman Sachs and M Stanley, it is JPMorgan, which has downgraded Indian mkts to ‘neutral’ and Citigroup, which has lowered its Sensex target. The rupee could touch 70 level against the US dollar in a month's time, although some revival of the currency is expected by the end of the year. Measures taken by govt & RBI to arrest the rupee fall have not yielded any results & have instead made situation worse, said Rogers. At a time of ‘global risk aversion’, when investors are fleeing to safe havens, it becomes difficult to attract equity flows to a country like India. Kaushik Basu has said that the present economic crisis is nowhere close to the situation that existed in 1991. By 2004, because of earlier reforms, manufacturing was freed of licensing. Private investment and consumption expenditure thrived. Looking at China, one might imagine the 15 yrs separating Zhu’s inauguration as Chinese premier in March'98 & Keqiang’s this March never happened. |
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