Can't u see today ruppee value has gone deown (strenghtning dollar),Our main base of economy since last ten years was IT Sector which was depended on one of this factor: Dollar-Rupee Value. We were looking at value of this daily to get tips to invest in IT. Infosys CEO also had given worried statement in their half yearly statement.And the base of this is totally FII's , Their activities were not monitored.Can u see FII power to control our economy? Can u imagine who is responsible for this
RE:Jaago India
by Zen India on Oct 19, 2007 02:23 AM Permalink
Select the article and paste in word. Thats the only way I could manage to read this article.
Anywasy hats off to "Kirit Somaiya" the man in the picture. And also to rediff for bringing this issue.
RE:Jaago India
by CatchTwentyTwo on Oct 19, 2007 02:51 AM Permalink
Like the "messiah" and the FM, I think bringing in necessary changes to the PN policy is good for the small investor. I think it puts a face to a name and brings in more accountability.
So then why did the markets slump if its good? Per this messiah, because of "dilly-dallying". No. Markets crashed because of the curbs being imposed. Whether they would have been imposed immediately or whether they would have been imposed after a phased 18 month period, it would only have altered the nature of the crash and the revival and the timing.
I agree the FM and the SEBI could have better worded this and the SEBI redrafting in 5 minutes is the direct indication of what the stock market was doing and how it was perceiving the curbs. In fact, I think they did a great job in getting the point across after that and the "perception" of the draft was corrected to prevent further loss to the investors.
As for foreign funds, if there is foreign money driving the market up, I benefited from it as a small investor who saw the price of his share go up. And if this foriegn money goes out and drives the market down, the markets are going to take a hit which should also be acceptable to the investor who benefited from markets going up due to the foreign funds. Its not a one way street...
Bottomline.. more procedures... more restrictions on investments caused a hiccup. Were they necessary? Yes.
