It’s true that this is impacting the Indian financial markets, and will do so more in the near future. If you are an Indian you should watch out for the following signs.
1] The economic boom has seen real estate prices spiral sky high; taking them way beyond the reach of the common man. Much of the black money and profits from the stock market have flowed into the real estate markets. Real estate stocks are the most volatile [rigged] stocks in the stock markets.
That this is the most profitable business, can be seen by the fact that most politicians; in states like Maharashtra, belong to the Builders lobby. Appromixately 25% of project cost, is bribe money; a large chunk finding its way to the ruling coterie of which ever party is in power, at the center.
This means that with the economic crises setting in, real estate prices are going to come down significantly. There are sure to be a lot of bankruptcies in the offing. This means that homes will become cheaper. Homes will be constructed keeping the genuine user in mind, and not the investor.
2] The Government has always been hand in league with big money in curtailing the falling stock markets and the rupee. The public sector companies are used to stem the fall by investing heavily. The same is the case with the rupee; the RBI is made to step in.
Valuable national recourses are used to help a handful, to what extent the government goes this time round, has to be watched carefully. Why not let the stock market and rupee find its own natural levels, keeping in mind the level of inflation.
3] There is clamor by the handful for the lowering of interest rates. Lowering interest rate means less income for the pensioner and the elderly who survive on interest on fixed deposits.
4] There is hectic lobbying by the big money lobby asking the government to change it policy on Coal. They want to end the government monopoly on coal mining, and have huge coal deposits placed at their disposal. Big money is hinting that this is a strong measure to stem the economic downturn.
5] Coal could set the trend for finishing off other monopolies in the public sector, and handing them on a platter to the handful. How far this helpless government will go is to be watched carefully. The handful have grown fat, thriving on public resources and money lets watch carefully, the tricks and sleaze used in the near future carefully.
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