While we do have certain systemic deficiencies, the current upheaval does not mean there is something wrong with he India growth story. The slide of the rupee and the subsequent investor reaction is just a manifestation of the fact that, in today`s globalized economy, money can flow very easily from one place to another in pursuit of profits. We just have to make sure that we have an effective and stable regulatory environment and investment friendly environment. The same money which is fleeing India today will come back in a jiffy. But building such an environment will take time and effort from our goverment.
within one day after taking over of raghuram rajan as rbi govnr will not alter the indian economy.the market overreacted for the past 3 days.the bank balance sheets are not revealing the correct picture of npas