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Montek under fire from EC
Nksagar | April 29, 2009 at 11:13 pmby
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Thursday, April 30, 2009 Montek under fire from EC 2009-04-30 08:54:18 - Montek Singh Ahluwalia, deputy chairperson of Planning Commission, is under fire from EC for attending a closed-door meeting of the Congress in which he addressed party leaders.
With growing deficit budget growing to 6 %and unemployment,inflation and stagflation to follow the dollar reserve of RBI is to be used for buying IMF securities.Is it right time or let the economy position get eases out.Moot question investment shares in International security fund when the funds needed home most.Montek adding dollar flow adequate forgets that in case meltdown gets
more melt then balance of payment mettle in adequate may turn to inadequate so it is time to wait and watch.Even an ordinary investors knows his job.
RBI will buy Special-Drawing Right (SDR)-denominated IMF securities,India's
proposed contribution towards the recapitalization of the International Monetary Fund (IMF) to the tune of USD 10 billion would be routed.Montek assured that India was not facing a balance of payments problem, adding that capital flows were sufficient enough to meet external financing requirements.
When the world economical meltdown on way to green is still in quandry but our experts making the statement both plus and minus directions to keep none to guess.His talking as treasury man that all plus and minusoptions are right options make the state of economy in state of mockery without makiing any reference to the investment short-and long times without naming the sectors which will help to garner the sustainance of economy when Industiries are faring badly and their gross product nosediving each month.
An institutional diction one who has mastered has control on treasury can talks in long speeches blaming cyclical economy where the catalyst can be any industry with peoples running for that sector may be Nano car.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the stimulus packages to revive the economy would start showing results in the data for April-May and definite signs of recovery would become manifest in the second half of the fiscal.Any concrete reasons submitted dear for supporting your statements or lavish words makes sense.
In order to boost the economy facing the heat of the global financial meltdown, the government came out with a stimulus package on December 7 and followed up with more steps in January and February.Hints from industry, Ahluwalia said, "There are signs of recovery in different segments but industry-wise numbers are still to come." "In the second half of this year you'll see distinct signs of recovery," he added.
The country, Ahluwalia had said earlier in Washington, was expected to record a gross domestic product growth rate of 6 per cent this fiscal, and more next fiscal with likely recovery in the global economy.
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