The most important comment in this the meeting to discuss Rupee fall came from Omkar Goswami, founder and chairperson of Corporate & Economic Research Group Advisory Pvt Ltd. who said that one matter of concern for India is the addition of 12-13 million people to the work force every year. In a world driven by knowledge, technology and machines, 80% of the extra 12 million workforce are absolutely unprepared for employment in terms of education and training, said Goswami. The other matter of concern is that even if people will be better off with economic growth, income inequality is on the rise.
[russia]
Q2 hedge fund letters, conference, scoops etc
Sanjeev sanyal who is the principal economic advisor said there is no need to hike rates to defend the currency. Sanyal also said that the RBI is well equipped with a robust foreign exchange reserve of $400 billion, and there is no doubt about the central bank’s ability to step in the market if the rupee weakens too far too soon
(which will be a big mistake).
I believe India needs to run a more restrictive monetary policy at this point of time and also simultaneously curtail non essential imports which will in turn help to reduce Current Account Deficit.
Article by Ritesh Jain, World Out Of Whack
