The people do not believe that Manmohan and his team will be able to dig us out of this pit. Their words will have no traction. Hence so long as he and his team are in the saddle there is going to be no optimism. Only when a change of government comes up after the next Parliamentary elections in 2014 are we likely to see a financial upturn. The new government can give a new direction to the country and its economy. The people will really respond to new initiatives and become positively productive. Meanwhile what is the best thing that we can do during these hard times? The advice from economists is not to do anything till the new government is in place. Do not take any foolhardy steps to try to corner blue chip shares going cheap or invest in non-essential gold, lands or housing. Also do not sell any property or gold till things steady out. The best thing would be to hold on to your assets and keep your cash liquid in fixed deposits in public sector banks. Of course there will be a reduction in the value of our savings due to inflation. That should be taken for granted.
Posted on: Fri, 23 Aug 2013 02:54:01 +0000
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