Hyperinflation in India makes the difference - Reserve Bank of India on Tuesday kept all key rates unchanged – Sensex reverses and ends in loss
Reena Roy
Jan. 29, 2008

India Inc. hoped for a rate cut by the Indian central bank, Reserve Bank of India (RBI). What Federal Reserve can do in US, RBI cannot do in India. The reason is simple. Inflation in US is controlled and muted because India and China has caused depression in wages through outsourcing. India is plagued with commodity hyperinflation and artificially subsidized petroleum products that will eventually come back and bite the economy.

RBI decided to stay put on rates. The move is good for Indian economy on the long run. Indian oligarchs who call themselves India Inc. do not like that. They are eager to get their equities in the stock market back again.

Sensex was up more than 300 points before the RBI decision. After RBI made it clear to the Indian oligarchs that there will be no rate cut, Sensex reversed and fell close to 60 points.

Hyperinflation in India makes the difference - Reserve Bank of India on Tuesday kept all key rates unchanged – Sensex reverses and ends in loss
Reena Roy
Sensex was up more than 300 points before the RBI decision. After RBI made it clear to the Indian oligarchs that there will be no rate cut, Sensex reversed and fell close to 60 points.
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India lives in ‘high’. But the reality is about set in the main streets of New Delhi as the global depression and commodity hyperinflation takes over the state of ‘high’ and prosperity. It resembles 1929 in United States.
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