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Is India in Recession ?

India would not see recession, even if the international situation remained uncertain, said RBI governor D Subbarao on Saturday. But the stocks keep tumbling today also in BSE and as a Diwali gift to its investors touched below 8000 points. Though justifying RBI's cautious credit policy announced on Friday, Subbarao said that as a central bank, it had to balance growth and financial stability with price stability. Between October 6 and 20, the RBI injected Rs 1,85,000 crore liquidity into the system and "the one per cent repo rate cut was aimed at getting the financial markets going. If the situation warranted, RBI wouldn't hesitate to infuse or withdraw liquidity from the system.

Nothing seems to work for now...lets keep our fingers crossed.

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Unknown said…
Nice debut.. All the best..
October 27, 2008 at 7:13 PM
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