Mr.Chidambaram even when you masquerader ad hoc measures as sufficient policy changes required to deliver the needed results market's know what really is happening, a slip of 769.41 Sensex points might be a little over exaggerated but it dint happen without a reason so is the rupee touching new low every other day, market is not your voting pool which can be wooed with a few promises, when the business sentiment seems like is not going to be good anytime soon how do you expect markets to trust in the future that you talk about, add to that you have blatantly denied the basic right the decree of free market economics promises to each businesses "an economy that would be governed by the laws of markets free will", How could you even think about curbing the interests of businesses to make investments abroad. The big bang FDI reform that your government so raved about has not had many takers, and a few who are willing don't see it as enough and are bargaining for more knowing well that we are messed up big time.
Things have been falling apart for a very long time, the balance of payment issue has been getting bigger each quarter since mid 2011 and here you are bending backwards to undo things in a jiffy, things which have been in the making for a pretty long time cannot be undone overnight Mr. Finance Minister you should know better. Mr. Finance Minister people with their hard earned money are going to buy gold no matter what, even when you ask them to not to do so, even when you increase the excise duty on gold imports markets will find ways to bring in gold to make sense to people who don't believe in the magic tricks promised by finance ministers even though they happen to be renowned economists. You should make people invest their savings into government issued debt bonds by making it more attractive, offer tax deduction on the capital gains on newly developed real estate properties using gold assets, offer tax deductions on properties purchased using gold, and here you are Issuing quasi-sovereign bonds what has come over you ?, Capitalizing on the abilities of the state run corporations with deep pockets to pile up under recoveries to pull in a few dollars into the market!, you could do better Mr. Finance Minister. The investment climate with in the country has been fledging for sometime now, capital expenditure has come down drastically in the last few quarters and the PMI figures have been dismal as well and here you are trying your best to garner trust from the outside, have you worked out the cost this debt will incur while it needs to be serviced when it is due, what if the economy hasn't turned around by then. Subsequent governments have made this country dependent on our services sector to show good GDP figures. India's 56 percent of its GDP share comes from its services sector of which nearly 17 percent alone is the cost incurred due to the services provided by the government, and this is a strange and amazing feet in itself, this is something that should be the case with the post industrialized economy and here we are emulating a post industrialized economy even while we have nearly 23 percent of the population below the poverty line and as many people who are unemployable because of poor skill's.