A sovereign bond float continued to be among the range of options to address the current account deficit (CAD), Finance Minister P Chidambaram said on Tuesday, even as former Finance Minister Yashwant Sinha asked him to tell Parliament the Centre would not countenance that measure.
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The broader consensus was that the Fed would cut the monthly stimulus of $85 billion by $10-15 billion.
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
The good news for us is that India's economy - and sentiment about it - is much better than it was a year ago, says Jamal Mecklai.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
In India we have to be careful not to copy any level of dependence on the financial sector and infatuation with the get-rich-quick syndrome, says Jaimini Bhagwati.
The Federal Reserve must now ensure that higher inflation doesn't derail the US recovery.
For one thing, US Fed Chairman Ben Bernanke was perhaps right in postponing the quantitative easing taper even though the markets had complained at that time that they were primed for some reduction in QE3 and the Fed had missed an opportunity to execute their plans without causing too much of a flutter.
They believe that long-term story is intact.
Nobutaka Kitajima, chief investment officer -- equity, LIC Nomura Mutual Fund, tells Business Standard the reaction to the Fed's statements has been overdone and the current downturn has punished certain stocks much more than their inherent economic worth and business potential.
'You want a steady, confident, self-assured and highly skilful hand at the till. 'It is a pity that the BJP has decided to deprive itself of such a hand at this politically sensitive time.' 'It is like sacking your surgeon in the middle of your brain surgery,' says S Muralidharan.
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