RBI rate cut fails to cheer Dalal Street

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ENS Economic Bureau Tags : RBI, India Posted: Friday , Mar 06, 2009 at 0133 hrs

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The bank sector index ended down 4.15 per cent at 3,728.22 after hitting 3,698.65, its lowest in more than three years, as the outlook for the sector remained bleak. ICICI closed down 5.2 per cent at Rs 269.60 and State Bank shed 2.4 per cent to Rs 934.55.

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Poor people of IndiaBy: Krishnan | 06-Mar-2009 Reply | Forward When the national growth was around 8.5% and some of themanufacturers making 25% after tax the ex. Finanace Minister and his group could not think how the share prices could jump 200% and real estate prices 300%. Though I do not support Left, they by default opposed using PF investments for buying stock and foreign investments in our banks. Also, always there used to be a diference of 2% between our government's and IMF's in growth projection. IV qtr 2008 growth has come down to 5 % and still Mr. Aluwalia says 7% growth is possible. There is no constitutional authority to check these peoploe.

Poor Economic GrowthBy: Virkam | 06-Mar-2009 Reply | Forward Let our PM run the country on his own without any interference from so called his party supreme. This man has changed India’s image as FM under the then PM Mr Narsimha Rao. Now he cannot sit and look as our economy falls. First government should do away with all the free bees. They are playing with taxpayer’s money. With such things, they can achieve nothing in the upliftment of poor but pushing many more into poverty by negative economy.

Indian EconomyBy: Kalpathy Venkataraman | 06-Mar-2009 Reply | Forward Kudos to P.Chidambaram and his failed economy theories that has brought the Indian economy to this bad shape. By keeping the Indian stock market fully open he allowed the rest of the world to fully exploit the weakness to their advantage. In the name of Garibi Hato, the Congress MPs and its coalition partners have made themselves amirs. No wonder, India is witnessing such an unrest that is manifested in Naxalism, racial riots etc. But, our politicians are shameless and they care only about the next election.

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