Will Pranab give 'Midas touch' to ailing economy

June 25, 2012 10:55
Will Pranab give 'Midas touch' to ailing economy

As today's Finance Minister (FM) Pranab Mukherjee will be signing the register for the last time, as he resigns. After his formal resignation, he shall be contesting the polls for the highest post in Republic India. Will the FM give his final `midas touch' to the ailing economy that was eluding him in his tenure. In his final day at the FM office the industrial stalwarts cross the country are expecting miracle to happen that did not occur in the last three years.

Well let us have a quick check at what the FM is expected of today. The various measures are likely to include raising the interest for NRI deposits, cutting down wasteful expenditures and unveiling a bond issue for overseas investors to improve capital inflows in the wake of the rout in rupee.

"Private investment in India is constrained by lack of availability of funds. Government might announce some measures for attracting investments and also steps to cut down wasteful expenditures," said Y K Alagh, Chairman, Institute of Rural Management.

Congress Working Committee (CWC) is planning a farewell for their beloved FM, who was sitting on a throne of thorns all through the tenure.  Mr Mukherjee became a member of the CWC in 1978 and has been a key player in the top decision making body of the party. Political observers feel that sending the veteran parlimentarian to the Rashtrapathi Bhavan would be a wise move by the Congress as he would not intrude in the future Prime Minister selection. With the maximum members rallying behind him the political wizard is sure to adore the country's. (With inputs from internet- AW AarKay)

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