Arvind Singhal: The denial of reality

MARKETMIND

Arvind Singhal / New Delhi November 20, 2008, 0:38 IST

There is no sign of let-up in the economic turbulence all around us. While there is, finally, some realization within the PMO and the key economic ministries that India is not insulated from the global economy and that serious measures have to be undertaken to prevent the Indian economy from melting down too, it is surprising to observe the response of corporate India to this situation.

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Discussion Board / User Comments Display Name   Post your comment Max limit:500 characters  KS on 20-NOV-08 I totally agree...affordability is key and saying that reducing interest rates will make things affordable is stupid...even a child can do this basic calculation...there is no rocket scince needed... things are gona to worse for reality...factoring uncertainty...lay off...reducing loan to value to 60-65% by banks....all those denying and hoping wait few months ....more pain and blood bath on the streets is coming... Neeraj on 20-NOV-08 Very rightly said. The unjustified valuations orchestrated by reality companies, unjustified salaries and perks offered by different corporations has not only has killed the demand and took the operating cost to unviable levels - It has also inspired[sic] the people and entities in other sectors to resort to greater corruption to make similar gains.