"Although the chitta (mind stuff) is in every animal, from the lowest to the highest, it is only in the human form that we find it as the intellect....Immediate salvation is impossible for the cow or the dog, although they have mind, because their chitta cannot as yet take that form which we call intellect." - Swami Vivekananda
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VEDANTA MASS MEDIAUS crisis may have second-order impact on Indian economy: FM
 


            

 

  
             US crisis may have second-order impact on Indian economy: FM


     Davos, Jan 24: Anticipating an indirect impact of the US financial crisis on the Indian economy, Finance Minister P Chidambaram on Thursday said the country needs to respond appropriately to the contagion in the global markets.

 

     "Long-term effects of the crisis spreading from one market to the other (will) have to be carefully measured and responded appropriately," Chidambaram told reporters here at the World Economic Forum meeting.

 

     Referring to the impact of the US mortgage crisis on Indian economy, he said, "we did not suffer any first order effect. But we anticipate that there will be some second order impact."

 

     The crisis in the Indian stock market, which saw a sharp plunge earlier this week on global concerns, would "pass over in a few days," Chidambaram said.

 

     "At the moment, since there is such a deep uncertainty, investors are hit by a sense of apprehension and that is why they are selling," he said.

 

     The stock market's benchmark index Sensex plunged by close to 2,300 points during January 21-22. After a recovery of 864 points yesterday, it again sunk today.

 

     Investors are estimated to have lost over Rs 16,00,000 crore since January 14, when the downslide began.

 

 

 

     Bureau Report

 


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International Yoga Day 21 June 2015
International Yoga Day 21 June 2015


 

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