17/4/2012:-RBI reduced rates [repo] by 0.50% and immediately recommended raising the prices of Diesel,petrol etc.
This,shows the insincerity of the RBI.Who can an ordinary Indian trust?Some car-makers are foreigners,having shifted from areas of high cost of labour..is it to favour those US and European MNCs?Bank loans will be more and they will also profit.
Indirectly the RBI has favoured Fuel consumption by the rate reduction.The vicious cycle,,,One suspects that the MNCs are pressing for DEREGULATION so that they need not obey India's national laws and make huge profits, irresponsibly.
The rate reduction is also for making India a Stock market-based economy.....
The diktat of the G-20,MNCs,World Bank and the IMF are being followed by the RBI and the Govt led by the Indira congress party at the Centre.....
To be continued....
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