Thursday 20 September 2012
Govt has bought 6-months of leeway with reforms
C Jayaram of Kotak Mahindra Bank says the market has pretty much factored in a UPA sans Mamata Banerjee-led TMC. "In a sense it may not necessarily be such a bad thing if the TMC.
The UPA, which relies on TMC's 19 seats to form its Parliamentary majority, came under fire last week after it unveiled a series of sweeping economic reforms aimed at boosting growth, including a plan to allow foreign supermarkets to operate in the country.
"To my mind, a period of six months is what you have bought with these reforms and much will depend on what the government is able to do certainly around the time of the next Budget," Jayaram feels on the prospects of a ratings downgrade.
The UPA, which relies on TMC's 19 seats to form its Parliamentary majority, came under fire last week after it unveiled a series of sweeping economic reforms aimed at boosting growth, including a plan to allow foreign supermarkets to operate in the country.
"To my mind, a period of six months is what you have bought with these reforms and much will depend on what the government is able to do certainly around the time of the next Budget," Jayaram feels on the prospects of a ratings downgrade.
