Finance Minister Chidambaram’s statement that people should not be worried about the current slowdown is one aimed at hoodwinking them further. The people who invested in shares and stocks hearing similar rhetoric in the past have lost all their hard earned money. Chidambaram said, "People should be self confident and take bank loan to invest in farm sector, small industries, housing etc. You should hope for bright tomorrow, and not worry about the slowdown”. This is an invitation to misguide those little acknowledged ones who have not yet burned their fingers by investing in India companies.
At present all bank shares are flat. No bank should issue loans without adequate guarantee. Gold price touched its bottom due to the wrong import policy by the Government. The shares of prestigious Tata Steel company which were sold above Rs 1000 or above a year back is now available about Rs 200. All finance companies have looted average investors money. Still the FM says come, invest and of course perish.
K A Solaman
The New Indian Express published on 30-7-2013
No comments:
Post a Comment