Friday, March 2, 2012

ONGC share sale bombed

Government has not learnt its lessons.

Indian government foolishly thinking that the share markets are rising due to improvement in indian economic climate. But the truth is that the global liquidity push is driving Indian markets and this is not going to last. One news item in Times of India says that the government officials advises corporate to lobby for a RBI rate cut.

Instead of going to control the fiscal deficit and reign in regulatory mode, government is thinking everything will be set right automatically. That is not going to happen. Next tamasha will start after the budget.

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