A bright future
Thursday, January 26, 2012
The RBI’s move to cut CRR rate by 0.5 per cent is welcome and should stimulate growth with additional liquidity into the banking sector. It was a signal of policy reverse after almost two years of rising key banking rates which should now ease over the next few months.
The move was also a confidence building measure with inflation trimming and other parameters looking stable. The stock markets too flared up after the CRR cut which is a clear indication of better things to expect in the coming months. The rupee to have gained compared to the dollar and falling below the 50 mark is a psychological boost to business and industry.
Our country has lot of potential and Indian economy should do well as most companies have reported good quarterly numbers in spite of lots of constrains. With good monsoons expected, food inflation too should drop drastically and help in the growth rate to climb the ladder. World economy too is trying to stabilise and business environment is looking rosy after many months of gloom and doom!
— S.N. Kabra, Goregaon