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Rupee, Sensex and Oil
Rupee, Sensex and Oil are the major factors of today’s Indian economy. All these 3 indices are soaring. We have to see co-relation between these. The major factor for Sensex rising is FII inflows. FIIs are putting money in Indian market because of sharp appreciation in rupee. We are still expecting at least 10% further appreciation of rupee. I think rupee is trying to reach to the same heights where our former FM and current PM devalued rupee. It is beyond the capacity of RBI to control rupee artificially because huge dollar inflow is continue from FIIs. The other problem of RBI is crude oil. It is kissing 90 dollar mark and it does not seems to be halt here. We are heavily dependant on crude oil imports. It is most sensitive commodity as far as Indian economy is concerned. It is heavily subsidized commodity. When rupee goes up then import becomes cheaper. To some extend we can curtail high crude price but at the cost of small and mid-sized exporters who is failing to compete globally. Exporter is stuck from both sides. At one hand rupee appreciated un-expectedly and other hand freight rates are sky rocketer due to oil price. Exporters like imitation jewelers and garment are in danger. Future of our teenage BPO sector is also seems to be shaken. By giving exchequer’s money to exporters in the form of cash subsidies is another blunder mistake. It is a criminal act and should be debated at national level. I think next 5 years of Indian economy is going to be crucial. It looks like time has come to make rupee convertible. by EXIMON.com Click here to Submit your Comments/Views on above articles
Name:Asad Ullah Khan Sr.No.: 40 Email: leokhan@hotmail.com Comment: Rupees power up Inshallah but cruption is most failer in our system` is handiling as soon as possible & compaq solution` Major cruption years is (1992, 1996 to 1999 is majot mark history cruption. News Archives |