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Is India heading for Recession !!!

March 26, 2008

Halo EverybodySmile,  



    In  U.S., the economists have already started crying wolf ! . This recession ,according to them  is going to be the worst  in U.S. history since the great depression of the 1930’s. 

 Europe will also follow the same path. They say however, that euro dollar will be the world ‘s next currency replacing U.S. dollar.

Australia ,is having a nice time. It’s economy is booming due to surging x’ports to China.

In Asia , China is the leader with its economy becoming the third largest in the world.It is the largest holder of foreign’s  reserve  of more than a trillion dollar replacing Japan. Japan is also having its own set of problem with its yen getting dearer against the U.S. dollar.
Back home ,India  has the Budget passed by the finance minister P.Chidambaram.Being the election year , it was a populist budget as expected. It was more than that. It was a rural budget where loans to farmers were waived. This would ofcourse affects  the banking sector.However peaple are more than satisfied with budget as it is for the poor and lower middle class and it does not have any negative effect on other sections.
The Bombay stock exchange meanwhile has finally met its nemises.It had finally come tumbling down  from more than 20,000 points to less than 14000 points. Gold is all time high to more than 13000 Rs. Oil prices is reaching the sky. Will India follow  the west where recession has already begun or will it follow China way having a robust economy.

Wait and Watch.


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