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India's deficits and short-term debt levels are "disturbing," but it is not facing a repeat of a 1991 balance of payments crisis, Reserve Bank of India chief Duvvuri Subbarao said.
Dependent on imported oil which it then subsidises, India is exposed to external shocks such as high crude prices and has seen its fiscal and current deficits blow out in recent months, triggering some economists to warn of a looming crisis.
In 1991, India came close to defaulting on foreign debt payments when the first Gulf War drove oil prices up, leading to a depletion of foreign reserves and a currency crash.
Subbarao said the economy was far more resilient now and that the probability of an "implosion" was low.
India's current account deficit for last year is estimated to be higher than in 1991, and short term debt makes up twice as much of total debt as it did in 1991, the RBI governor said.
"That is quite a disturbing picture," he said. "Nevertheless, I would still argue that in 1991 an implosion was imminent, in 2012, an implosion in not imminent."
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RBI CREDIT POLICY ON TUESDAY
RATE CUT ON CARDS!!!!!
YES!!!!
1.Now.....Midcap SmallCap Stock Ready for Give500% to 5000% Return in Next 1-2 Year..
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What To Do Today........
Nifty....Today Face Resistence at......5255...5290...5345
Nifty.....Today Support at ....5125...5075...5025
Nifty Range...4200--------6600
TRACK ME RESEARCH......
NEXT TGT FOR
WE SHORT NIFTY @6100 TGT 5350 / 4800
OUR 1 TGT HIT NIFTY 5350 OUR 2 TGT ALSO
DONE 4850
DONE 4850
Our Opininon for Today's Market.......
1.Stock Specific Movement Expected Today ......
INTRADAY HOT STOCKS: 30/04/2012
SELL AXIS BK BELOW 1095 TGT 1085/1075 SL 1115 BUY BA 1120
BUY TATAMO@ 310 TGR 313/316 SL 307
BUY RABAXI @ 500 TGT 503/506 SL 497
BUY JNADALPOY@ 189 TGT191/193 SL 185
SELL LT BELOW 1220 TGT 1211/1200 SL 1229 BUY AB 1235
1.Some Big Opertor & Market Guru Saying IF Market Break 200DMA NIFTY May Again Hitt4800
DO HOME WORK AND BUY OR CALL US TO HELP U
PRAJAY ENGINEERS SYNDICATE
(BSE TICKER-531746@ Rs.8/-)
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BLUCHIP STCK OF 2007-08 NOW TURN TO A PENNY STOCK
Prajay is a Hyderabad based real estate company, gives you more than just real estate. Prajay has been transforming the Hyderabad landscape for the last two decades by developing landmark residential and commercial properties in the twin cities.
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WE THINK WORST IS OVER FOR STOCK NOW
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GLORY OF 2007-08 TO COME BACK SOON !!!!
TARGET
Rs.14/- Rs.18/-
SOMANY CERAMICS
(Bse Ticker-531548@ Rs.46/-)
Somany Ceramics Limited, established in the year 1972, is a leading Manufacturer, Exporter of Ceramic Tiles Floorings
Insider Say Stock to Hitt New High Very Soon
BELIEVE IT OR NOT!!!!!
TARGET
Rs.58/- Rs.75/-
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