Even though you are making right noises, we are not seeing the equivalent actions in the monetary policy or even the advisory notes from RBI is not hitting the right spots. When you talk about huge import bill due to gold, I wonder what is RBI view about the speculation in land?
Do you know indirectly the land speculation is one of the huge causes for inflation. I know many people who thinks food or consumer inflation is OK, so long as their investments in land fetching 30% of return every year. If you apply the logic in the opposite side, the inflation expectation is kept artificially high because of land speculation. Another point is the black money involved in the real estate business.
Doing lip service in the inflation front for the majority population is not really helping them. Sometimes it appears to me like crocodile tears.
- What have we done for the thousands of ordinary folks dependent on the bank interest to lead a peaceful retirement life?
- To make matters much worse, we are planning to give market linked returns to all the future pensioners.
I think since you joined before the new pension scheme you are not worried about the future generations. You know the real consumer inflation is 12%+ for the past few years. And now you are waiting for sub 7% or 6% even for a month to cut rates. Is it not ironic?
You said majority % of people have no voice or forum to raise the concern. That is true. But what is the action you have taken? Actually you should have raised rates and haven't done so.
Now you are acting only because the CAD is dangerously poising and if all the hot money goes out you know what would happen. What stops you from talking against the land speculation happening in India with active involvement with politicians, builders and bankers?
No comments :
Post a Comment