Reflections of a Curious Mind!

Markets will grow in orderly manner: PM

I was always mystified by the bull and bear runs in the market and their causes. As usual I was clueless that morning after reading all that was available to me (black Monday/blood bath/FII selling pressure/inevitable correction sensex slipped 1408 etc etc.), But wisdom as they say is where you never expect it to be. I was sipping my tea in the evening the same day, and there it was this headlines in the economic times web page
"Markets will grow in orderly manner: PM"
If you still haven't read this link let me highlight the important line in the news "Let me say orderly growth of the capital market is a priority concern for our government," Singh told reporters. It was such a relief to see even economist like manmohan singh could not resist the bullish run of Indian stock markets. I wonder how much money government has in stock market. It is the priority concern of government, obviously it got to be more than the budget for infrastructural projects, empowerment of the poor, public health, environment protection etc etc. I used to wonder when analyst talked about Indian growth story, and its impact on stock markets because it was hard to correlate the rate at which stocks were growing and the country was growing, in the last 3 years i.e. from June 2005 when sensex was 7000, it has climbed to about 21000 in dec 2007 i.e. an increase of 200% whereas the road project in front of my home in powai, Mumbai has not progressed more than 10% in last 5 years.

My dear Mr. Prime Minister I understand everyone likes to make easy money but what are we going to do with that money if we don have roads to drive our car, if environment becomes un-habitable. If you start worrying about sensex then what would traders and investment bankers do. Please give a thought to some of my concerns for the country and let me know your government priority on each so that citizens of the country can make informed and prudent decision in the next lok sabha elections.

1. Orderly growth of infrastructure.

2. Orderly empowerment of poor.

3. Orderly growth of primary education in the country.

4. Orderly environmental conservation.

5. Orderly growth of employment.

6. Orderly growth of agriculture and manufacturing industries.

7. Orderly control over corruption in the country.

8. Orderly increase in security and decrease in crimes.