The cost of freedom

Last weekend the world was on the edge. The world is hanging on - even though if only by a thread.

But India seems to have fallen off the edge. We have falling into the cliff.

Let’s hope there are some branches to reach out to and help us break our fall - or that the floor is not too far away. Graph 1: The BSE 30 Index heads into the pit

The morning of Monday, October 13 began with the Finance Minister telling a pre-market open press conference that India will be affected by global events, but will still do well. The fundamentals of the economy are strong. (Yes, I agree with that view.) But, said the Finance Minister there are people in certain sections of the media who are writing things without checking their facts. India is a free country, said the Finance Minister, and we are free to write what we wish but we must not cause any panic. (And, yes, I agree with that view, too.) The market rallied by 781 points (+7.4%) by the end of that day.