Thursday, December 15, 2011

India's Weakening Economy

We are so confident about the fundamentals of Indian financial economy that we are not ready to believe that situation is very bad. Politicians, economists, analysts terming it as temporary phase as they are over confident about the economy but they do not see that this temporary phase has taken one year now. Everytime I  see news channel, people claim that situation is not bad. They need to open their eyes. Don't they see that bloody dollar is now trading at more than fifty four (54) rupees. Don't they see that India's industrial output is -5%.

If you cannot see this, you don't deserve to be the economist. US multinational companies who have operations units in India are gaining the most. Company who was spending 1000 dollars previously, now have to spend only 850 dollars on India operations. India need more dollars. Policy makers should take this situation seriously otherwise there will be time when you will hear that after Greece its India who is defaulting and recession will grip us as well. They (US) have come out of the situation very well and now learned their lessons but our leaders are so corrupt that we cannot handle such situations.


Megha Gupta said...

Very true Varun... this article deserved to get published in any national newspaper

Varun said...

Thanks Megha, that was inspirational :)