Narendra Modi is now a Sell!!

Before, penning further, let me assure you, that I am neither a friend nor a foe of Narendra Modi.  I am just criticizing the policies of his government, so that the BJP leadership or the RSS can take corrective measures, for improving the Indian Economy. 

That Narendra Modi is a novice in central politics has been proved long back by his countless loose talks, including his much publicized "Broom Expedition".  

Also I mentioned a number of times earlier that he has no interest in giving good economy, but is more willing to prepare a good vote bank for the BJP. But then, all Indians cannot be fooled all the time.

He perhaps  either does not understand the economy or does not take suggestions from the expert committee. He is now bent on showing low inflation, thinking that RBI will cut rate. But, rate cut will not spur demand, as the government has not taken much pro-active steps to  either revive the economy or give some incentives to the ailing sectors like Gems and Jewelry, Steel and Soya Oil, to name a few. 

Yesterday, I was hearing a gentleman from Ruch Soya Ltd, who said that the difference (import duty) between crude and refined oil  is only 7.5%, which  is not sufficient. He lamented that inspite of repeated presentations to the FMO, to make the delta as 12-15% nothing much happened till now. His government is more vocal on land bill, GST, etc to make headlines in the media. When there is no SALT at home what is the use of bringing of Fish from the market? 

How will the make in India happen in the steel sector, unless dumping is stopped?

His government passed some of the bills in the Lok Sabha because the NDA has strength there, but is not able to show any sort intelligence or diplomacy when the bills landed in the Rajya Sabha. This is called "Poor Floor Management". But when we have a person who lacks intelligence at the helm, we cannot expect someone like Kamal Nath (an expert in floor management) or P R Das Munshi to be in his team. No one knows what his ministers are doing and what their goals. The surprising part is that the RSS is tolerating, the heaps of mess created by the Modi government, everyday. 

His finance minister is equally, inapt and amateur. He also thinks that lowering of rates by the RBI is the panacea of all ill---therefore, his ministry is presenting some good inflation numbers and  is shouting for rate cut. 

I have already mentioned umpteen number of times, that I have little faith on the data presented by the Narendra Modi government, as the ground realities are much different and have not changed much since the the NDA came to power last year.

When the economy is not doing well and the FIIs are continuously pulling out money not only from the equity market but also from the debt market, then on what assurance, will the RBI cut the rates? Even if the RBI cut the rates, will there be any credit growth? I do not think so. In absence of some solid policies where will the companies invest the funds? 

Take it from  me: the RBI is not going to cut rate  in the June, 2015 too. 

It is pertinent to mention here that too much time taken to remove Dr.Pranab Mukherjee, from the post of FM, got the INC, lose the last election. The same thing looms large if quick decision is not taken to dismiss the Modi government and bring in a Prime Minister, who has at least some experience, as an MP.

Don't hear all those who tell you to buy on dips. The Nifty is likely to touch 7600 as FIIs are exiting the Indian Markets. The government  must have asked the DIIs to keep buying, but how long will this cosmetic affair continue?

Nifty is now at 8,214.45 down 21.00 points or -0.25%. However, the worst of this market is yet to come, unless Narendra Modi stops his foreign visits and concentrates on India. His last visit was a sham and poor tax  payers money were blown out without much incentives. The question is why is he roaming countries after countries? What is his EA minister doing? 

It is all in Mess. Around a couple of decades back, if you remember, I started in equity market just out of passion, but later graduated to a professional.  

These days, I have lost interest in the market and therefore have joined an Infotech company in operations (data analysis and management). At present I am  running high fever, but could  not suppress my desire to unmask Narendra Modi government, which is nothing but a bundle of "Tall Talks". 

The grape-vine is that, another Mid-term elections could be round the corner as many of the BJP MPs are not happy with the functioning of the Narendra Modi government.