Recently , we have witnessed the Indian Economy touching 57Rs/$ levels which are at 10 year low level. These were on account of the global economic scenario , the lack of positive investor sentiments and lack of Reforms within the country which led FII investors to take out their money invested . The lack of reforms were attributed to the lack of a clear leadership at the CENTER . Manmohan Singh was criticized for lack of leadership and was said to be just an ACTING Prime Minister under the leadership of Ms .Sonia Gandhi .
Now today i.e 30/6/2012 the sensex zooms by 439 points and Rupee gainig 119 paise logged its second biggest gain in nearly a decade . These were on account of robust capital inflows amid clarity on tax-avoidance rules of the country [GAAR] and unexpected steps unveiled by the EU to support the region's financial system . Also recently , the Economic BOOSTER by the government in which central bank announced a $ 5-billion increase in the limit on foreign investment in government bonds, raising the cap to $ 20 billion, and a $10-billion increase in the external commercial borrowing limit for new projects. RBI also announced a few other minor steps, while the finance ministry said that the liberalized withholding tax provisions on overseas borrowings would be notified soon which they did yesterday .
So now you all must be confused as to why this blog's Headline says SMS & The Indian Economy . This blog is to highlight the efforts by our respected Prime Minister Sardar Manmohan Singh's to revive the Indian Economy especially the arrest of the sliding Rupee .
Recently , Manmohan Singh as the PM had gone to the G-8 summit where there was a serious debate on the Euro-Zone crisis . Manmohan Singh was first of all criticized very harshly for missing an important session in the parliament and going out on ' Tour' for G-8 summit . And the media and politicians went berserk when he pledged 10 Billion US $ for the Euro-zone crisis when there was already a crisis like situation in our country . But I must tell you this was a very smart move by our PM . The help provided to the Euro-zone crisis by our PM lead the European Union in return to support and take unexpected and surprising steps towards helping our economy revive .
Secondly , as soon as SMS took the charge of The Finance Ministry in wake of Pranbda's presidential dreams .. he cleared the confusion over GAAR and cleared the governments stand on it . Thereby , there was more clarity on the reforms of the government and the investor sentiments were revived . Market confidence is great now and that's why the zoom in the sensex . The problem of lack of reforms is not there now . There is clarity of leadership as we can all see as to WHO is doing the JOB for the Country . Business Confidence improves after PM takes charge of the FinMin according to a survey with more than 80% CEOs polled felt that the PM with the Finance Ministry under his charge will now act without further loss of time , as he realizes that the economy cannot afford any more indecisiveness .
My point is , its because of the foresightedness of our PM & the acting FM now that Rupee is recovering and due credit goes to this highly experienced Man Sardar Manmohan Singh who has previously handled this Portfolio in 1991 and did the BEST job possible . He is the supreme leader and he is very smart ! :)
Now today i.e 30/6/2012 the sensex zooms by 439 points and Rupee gainig 119 paise logged its second biggest gain in nearly a decade . These were on account of robust capital inflows amid clarity on tax-avoidance rules of the country [GAAR] and unexpected steps unveiled by the EU to support the region's financial system . Also recently , the Economic BOOSTER by the government in which central bank announced a $ 5-billion increase in the limit on foreign investment in government bonds, raising the cap to $ 20 billion, and a $10-billion increase in the external commercial borrowing limit for new projects. RBI also announced a few other minor steps, while the finance ministry said that the liberalized withholding tax provisions on overseas borrowings would be notified soon which they did yesterday .
So now you all must be confused as to why this blog's Headline says SMS & The Indian Economy . This blog is to highlight the efforts by our respected Prime Minister Sardar Manmohan Singh's to revive the Indian Economy especially the arrest of the sliding Rupee .
Recently , Manmohan Singh as the PM had gone to the G-8 summit where there was a serious debate on the Euro-Zone crisis . Manmohan Singh was first of all criticized very harshly for missing an important session in the parliament and going out on ' Tour' for G-8 summit . And the media and politicians went berserk when he pledged 10 Billion US $ for the Euro-zone crisis when there was already a crisis like situation in our country . But I must tell you this was a very smart move by our PM . The help provided to the Euro-zone crisis by our PM lead the European Union in return to support and take unexpected and surprising steps towards helping our economy revive .
Secondly , as soon as SMS took the charge of The Finance Ministry in wake of Pranbda's presidential dreams .. he cleared the confusion over GAAR and cleared the governments stand on it . Thereby , there was more clarity on the reforms of the government and the investor sentiments were revived . Market confidence is great now and that's why the zoom in the sensex . The problem of lack of reforms is not there now . There is clarity of leadership as we can all see as to WHO is doing the JOB for the Country . Business Confidence improves after PM takes charge of the FinMin according to a survey with more than 80% CEOs polled felt that the PM with the Finance Ministry under his charge will now act without further loss of time , as he realizes that the economy cannot afford any more indecisiveness .
My point is , its because of the foresightedness of our PM & the acting FM now that Rupee is recovering and due credit goes to this highly experienced Man Sardar Manmohan Singh who has previously handled this Portfolio in 1991 and did the BEST job possible . He is the supreme leader and he is very smart ! :)
