The Modi Govt should have a clear agenda to handle the situation and take the bull by its horn.
It’s a deep-rooted conspiracy and Indian Stock Market is rigged and manipulated by a group of cartels who themselves are under control of a certain influential powerful team.
After the full-fledge 2019 Budget presentation, the market in the last 2 weeks has seen an adverse downward trend. Even though there is not much in the Budget for the corporate sector, the slide seems manipulated. The Govt with power at its disposal has hardly done anything positive to control the reverse trend.
The rot lies in the system and certain old decisions which are still being followed. In 2014, when new Govt came into existence after ousting the most corrupt regime ever, a lot of cleaning up was anticipated. First and foremost was the total ban on PNotes, control on FII FDI and disposition of key personnel from prominent institution’s top position, who manage the Stock Market.
PNotes, FII is under influence and always unpredictable, and with few planted personnel of past regime making certain decisions creates turmoil in the Stock Market.
Nothing of this sort happened and the message sent out was to continue the old trend. Under pressure, few changes were adopted in the PNotes procedure with no major impact. Certain key persons at the helm of affairs who are mole stooges of the past regime are still patronised and encouraged.
The continuation of the old package in the last 5 years was a total failure with no positive initiative undertaken in the national interest.
For a background, PNotes is one of the most fraudulent dubious instrument ever to be introduced by the earlier UPA Congress regime. It’s a clear way to recycle the Indian black money lying in foreign banks without earning any interest back into India. In other words, looted gold ornaments are melted and again sold to owner.
In short corrupt money is managed by crooks to earn in Indian stock exchange.
PNotes, FII is under influence and always unpredictable, and with few planted personnel of past regime making certain decisions is creating a turmoil in the Stock Market.
Till the time we have these undesirable instruments controlling systems, we are bound to be threatened and blackmailed forever.
The Modi Govt should have a clear agenda to handle the situation and take the bull by its horn. It might create a one-time bloodbath in the market and thereafter we can see the realistic market position.
In case you have the will you will find the way …
1. The views expressed here are those of the author and do not necessarily represent or reflect the views of PGurus.