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Fore(Telling) It Like It Is

| 9/20/2012 9:00 PM Thursday

Just when the noise was getting louder about how the economic scenario is anything but good, our honourable Finance Minster Shri P Chidambaram did what his predecessor should have done long ago. He has set the reforms ball rolling, and at a speed which, in all its probability, will see the economy soon gain its lost ground. Had this been done earlier, it would have at least spared the ruling UPA II the scathing criticism of having applied brakes on India’s scorching growth pace.

It takes immense courage to defy your peers and make decisions that are looked upon to be rather radical but all the same, essential for the progress of the nation. It is the experience and maturity of understanding what is right in the interest of the nation and timing it perfectly with global happenings that probably makes the present scenario as one that will be remembered by generations to come. The Indian economic growth story has been brought back to life just when the world thought it was all dead at the hands of a paralytic stroke triggered by the government’s inaction.

Why are we relating so much with what Shri Chidambaram has done over the past fortnight? Not that we would like to, but there are natural parallels to be drawn in the courage and conviction that we have had and that of Shri Chidambaram in the Indian growth story and the way ahead for the Indian capital market. He has, in all earnestness, unleashed a spate of reforms, believing in the capability of the Indian economy to go that extra mile if provided a proper direction. What have we done on our part?

The markets are as much about calling the bottom as they are about predicting bull runs. In fact, the more adept and savvy analysts would do well in calling the right bottoms, so that investors can benefit from the oncoming Bull Run(s). Dalal Street Investment Journal has been a front-runner in predicting the course of the markets incisively, and this is exemplified by the way our analyses over the past couple of months have turned out to be true.

 

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