27-Nov-2011

OMG The Sensex Will Crash by 500 Points!


So hurry and allow FDI in retail!  Yes, this is how decisions are taken in the largest democracy.

Several of the anti-FDI ministers took serious objection to clearing the issue in a hurry, demanding that more discussion was needed in the cabinet on controversial provisions. Some were opposed to clearance given to the FDI before the Uttar Pradesh elections. To this, a senior minister shot back saying that all newspapers have written that the proposal would be cleared. If it is not done, sensex will drop by 500 points. “Are we prepared for that?”, he is learnt to have asked.
Whatever the spin doctors come out with to sell the policy,  as they will - Govt launches campaign to sell FDI in multi-brand retail, one thing is clear.  This is nothing to do with any of those reasons.  It is for big-business.  I remember how opening up retail to Reliance etc was supposed to remove the middle man and make things better for the consumers and farmers.  The price rise never stopped since then.  Even if it didn't cause the price rise, it for sure didn't keep/bring down prices.

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