These days, we are getting habituated to read in the media about the success stories of Indian economy. However, not everything is so rosy for the Indian economy. At least, the National Council for Applied Economic Research (NCAER), an economic thinktank, feels this way. According to NCAER, investors confidence in India is falling. I am quoting from a Reuters report:
"NCAER said its business confidence index (BCI) for April-June decreased by 8 percent to 141.7 points over the previous quarter.
It was down 1.6 percent from the same quarter in 2005.
"The downward movement in BCI reflects mainly the recent shocks in the capital market and a general uncertainty in the economy, partly influenced by high oil prices and the rise in the prices of primary articles," it said.
Its investment climate index slipped by 4.3 percent to 66.5 points while the overall economic conditions index dropped 12.4 percent to 66 points."
It shows that Indian share market is not having a smooth time. That is not good news for any country. I wish that Indian government gives more attention to the share market. In India, thousands of investors come from very ordinary background. Many families have invested all their wealth in the stock exchange and manage their expenses from the earning of their shares. So, any crash in the stock exchange may create social instability.
It bet it would create social instability along with the economic one, considering the way the Indians live, not to mention their ever increasing numbers. I don't want to know how a protest from that many people looks like.
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