M K Venu, of Financial Express newspaper, addresses the problem of unstable currencies during this tough economic time by saying that he expects gold to be the safest investment bet as long as the world economy remains in a crisis and the threat of inflation remains in economies all over the world.
Last updated on: May 17, 2012 17:03 IST
The Rupee's southward plunge, to its lowest level against the dollar, has set off alarm bells all around, but the currency's travails are but a mirror of what is ailing the Indian economy these last two years.
In response to the fall, on a day when the stock markets too lost nearly two per cent, Finance Minister told Parliament on Wednesday, "This is a difficult world, international situation is difficult. Country after country is facing major economic crisis."
Although he clarified that there was no need to press the panic button, yet, there are not many takers for his limited optimism.
What went wrong with the economy which not too long ago was the toast of the economy? When did India [ Images ] take its eyes off the economic drivers? What is the way forward? What must India do to regain its impressive GDP growth?
Addressing the problem on Rediff Chat is M K Venu, managing editor of Financial Express newspaper, who has 28 years of experience in financial journalism, at notable publications such as the Economic Times, Business Standard, Hindustan Times, The Statesman and Patriot.
Here is the transcript:M K Venu says, Good afternoon, Iam now available for a discussion on India's economy and the state of rupee.
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