Business Daily from THE HINDU group of publications
Tuesday, Feb 13, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Feb 13, 2007 ePaper |
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Opinion
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Letters Currency instability
This refers to "Go to the root of currency instability" (Business Line, February 10). One of the reasons why interest rates have little impact on real-estate is that the sector is largely being financed by money from the parallel economy. Borrowing through the official channel to buy land in any city will cover only very little of the cost involved. That being the case, trying to control this asset class through monetary instruments will not help. Poor agricultural growth and its impact on the growing economy have been ignored by the Government, though the central banker has been highlighting its failure on this account. In an election year, this becomes a much bigger problem. V. Balakrishnan,
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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