When RBI rudely surprises markets & why inflation is spooking the world

As the Reserve Bank of India Governor announced hike in repo rate and Cash Reserve Ratio (CRR), Shekhar Gupta makes sense of the Monetary Policy Committee's surprise announcement. In episode 994 of #CutTheClutter, we also look at staggering inflation and what is driving it.
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[@ThePrintIndia]

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[@ashasheth3257]

I want to pay you deserve it

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TERESA JENSEN WHITE does a perfect job. look her up on the web

[@dorissteve912]

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[@pro-democracy2028]

Deepak Parekh - "In my 44 years with HDFC, I have not seen housing demand the way it is today" RBI - "Thank you for waking us up"

[@animeshsharma3363]

Hahahaha

[@ramannatube61]

😁

[@sreenathgopinathan5415]

😃😃

[@UBSINGH-pd7fp]

🤣🤣🤣👌🏻👌🏻👌🏻 Intellectual punch

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[@ininjad24]

When inflation went over 6%, this was anticipated. I guess RBI was being optimistic but the prolonged war has dashed the hopes. Excellent, well written and referenced presentation, thank you Shekhar and team!

[@rameshbhat8216]

Well covered and pretty fast too. This is what makes me subscribe to the Print. Kudos to the entire team to get content, design and coverage which makes me come back to The Print every time.

[@nnoor1715]

I come back to the print to see if they still bitching about us. Looks like they hired a good researcher. Now they can talk about some real shit instead of focusing on their neighbours..... obsession 😳🙄

[@prasoongupta12]

Finally RBI regained some crediblity. Inflation is a monster especially if not controlled.

[@arunsar7893]

The inflation that India currently experiencing is due to supply-side shock though. That is something that can't be controlled by rate hikes.

[@orkkojit]

@@arunsar7893 no it's also due to excess liquidity in bond markets

[@prasoongupta12]

@@arunsar7893 Inflation always and everywhere is a monetary phenomenon.

[@arunsar7893]

@@orkkojit In India, Food is the primary component of price index measurement. You think price of wheat, cooking oil, palm oil etc is up because of excess liquidity in the bond markets?? .. Petrol prices might also be up, not because a larger supplier of crude oil has been plugged out the market due to sanctions but because there is excess liquidity.

[@orkkojit]

@@arunsar7893 When there is excess liquidity, more people have more money. Demand goes up supply remains constant. It's simple economics. The prices are also affected by commodities trading like that done in Chicago Mercantile Exchange which sets export prices for commodities around the world.

[@omkarjagdale1312]

Supply chain issues largely remain unresolved & Central Banks are forced to fight a supply side inflation with rate increases. Unfortunately rate increases do little to fix supply side problems & will only help to curb demand in short term.

[@tanmayasahu5171]

Yes look at the ships waiting to dock in china it's a disaster in the making

[@numanunees2597]

It's not only a supply side issue, inflation was coming before covid. A devaluation is needed but will be painful.

[@ParthGada]

Beautiful analogy. "Inflation and recession are siblings". Amazing.

[@Aditya18893]

No one has explained concept of inflation and recession in such a great manner like Shekhar sir has done

[@Charvak-Atheist]

Tough time. Cutting down on inflation was necessary but now downside is that raising rates will impact growth. Ek side khaai hai dusre side kuwa hai. 😂

[@hyddashcams]

The RBI made a decision that they will now prioritise bringing inflation under control over growth. This inflationary cycle is due to supply constraints rather than excessive demand. Growth will happen organically as demand will remain, it is for suppliers to figure out how to sort out their issues. If inflation had continued to grow, the demand would have been destroyed due to rising prices and then double whammy. Good that it has stepped in now.

[@rahuldinesh2840]

I was more surprised why it was not raised last time. Raising 40 basis points this time is a good decision I think. The Federal Reserve lacks the courage and strength to do that in time.

[@AbcDef-el9jl]

Sdf was introduced last mpc meet and they also hinted anytime it might be increased.

[@aryaaswale7316]

No they are doing it on purpose they have too much debt so they're devaluing it

[@manish3143]

If government doesn't become proactive like Bangladesh , Vietnam did during Covid and took the advantage of China Backlash then we may accept another repo rate increase and CRR hike in next session.

[@jujijiju6929]

"Inflation is going up a little bit" is an understatement.

[@naturelover4148]

Rich people won't understand the plight of common men and women.

[@HarshadContractor]

Shekhar, Ji Simply superbly put through, It's so much easier to understand the decision of RBI, through you. Just, sometimes, a while back I was watching a panel discussion on a very reputed TV channel on the same subject and it was so ridiculous. There were politicians along with experts, all jostling to shout out each other. Its chaos!!!! Thank you, Sir, for making it so simple that I a 72-year-old person can make sense of what this announcement made.

[@harisundar8698]

Simple explanations to such complex issues of economics is what makes this episode even more special for common audience like me. Great work SG and print team, the last part of the video beautifully connects geopolitical scenario to the issue of inflation.

[@PritiAnand1BSG]

Very well presented, Shekhar 👏👏👏 and on the same day that the RBI announced the changes in its monetary policy 👍🏼👍🏼

[@GautamMH15]

That was truly educational. I certainly learnt something new today. Thanks as always Shekhar ji

[@manishrao2707]

Nice Explanation...Thanks for your efforts.

[@tolivihsumi3887]

Brilliant! Thank you so much for such a wonderful insights.

[@kallachi729]

Very informative for the uninitiated in matters of economy….simplified. Great

[@aayushsahu6767]

Nice insights. I really like how this channel has less chaos and news drama.

[@mohitsingha1809]

Thank you Sir. Very clear and educative.

[@Kikicarabala]

Shekhar ji please make a CTC on "status of informal economy of India in past 5 years( post de-monetisation) and its impact on Indians. It will de clutter many things besides being helpful to upsc aspirants like myself....

[@FreeYourImagination]

There's no way to find that out as there's no real survey or report that comes out due to lack of any process to find that.

[@Kikicarabala]

Yes you are right there is no comprehensive survey....but by looking at other indicators like GDP , unemp and reports by SBI etc maybe we can reach at something concrete...

[@FreeYourImagination]

@@Kikicarabala unfortunately that wouldn’t give an accurate reading and will be open to scrutiny. It cannot be passed of as news and analysis.

[@sarbhagpt]

You should change the title of video to Basics of Finance.So crisp to the point! What a talent

[@jeethendra7]

Well explained. There are lot of news article and videos explaining about the RBI's action, but no one could explain as simple as Shekhar Gupta. Good explanation about CRR, SLR and basis points. Thank you team ("The Print")

[@sitajoshi9863]

Excellent explanations. Thank you Shekhar Ji.

[@SamvadSoul]

I saw same analysis by many finance channels but this was the best.

[@deborshiganguli3105]

Wonderfully explained ...

[@GarimaGupta]

Very well explained !

[@Mr225566]

Very good briefing sir. Thanks.

[@vinaykumar-jv1ku]

once price increases of products like packeted milk, chips , biscuits , kirana items , they never decrease price when infaltion is down, this is a cheating with consumers...

[@hindolbhattacharya9715]

If price has to go down then a deflation would have to occur. What generally happens is that rate of inflation decreases. It means that now price will not increase as steeply.

[@arunsar7893]

Not really. Cause the producers of these products won't be able to increase prices and pass it on to consumers immediately. That will take time and until them means they will go through a painful period. They make profits when inflation goes down i.e. the input cost goes down and that is when they make money.

[@kishanmukund5878]

If deflation occurs, then possibility for you to get job will also be negative.... So if u expect prices to crash - then expect even zero growth in salary and real estate

[@aruptal]

Great Talk Sir....very well articulated

[@MrJayk786]

No doubt it was big hit on the markets. Many registered loss on their portfolios, myself included. But it was because this action by RBI was factored in. There's a rate increase by US Federal Reserve by tomorrow, something which was factored in by the markets. Once, these two actions gets discounted then markets will come back. Until then, we have to swim in lot of red.

[@thenewindia6396]

Lol, wishful thinking. Who is this all-knowing entity that factors in bad news and discounts it on anticipation of good news? The smart money has already made a move, retail investors are dreaming of a bull run.

[@srinivasanmuthukrishnan6107]

Sir, thanks for your detailed explanation

[@khalidfarooq5438]

Very good. Thank u for your informative episode.

[@gevigevigevi]

Very well explained for a lay person like me! Prevention is definitely better than cure! Good thinking by RBI!

[@vmdoon]

Crude oil prices, food, edible oils have jumped, courtesy US sanctions. That's an adverse supply shock for India. When fuel prices rise, transportation costs rise leading to price increase across the board. Monetary policy, while effective when inflation is demand driven, can do very little to control inflation when it is driven by supply shocks.

[@VijayPawar-sz6gq]

Ausum insights as always This will only impact non elites, as IBC and NCLT r there for Elites

[@murugesanb5701]

The same YV Reddy quipped in another press briefing: " The surprise this time is there is no surprise"

[@joshua_ch]

Thanks!

[@rekhamittal1612]

Simply fascinating 👍

[@jaigurudevkishorekumar]

Thank you Professor Shekhar.. 😇 Always informative, always educative 🙏

[@arnabsinha7341]

You are such a good orator. I really want to learn from you. Is it an acquired skill over the year or you were always like that? How do you organise your thoughts so well? Please make a video on this if you have time. The new generation needs to learn from you.

[@MadMadHindoo]

Masterclass. Thank you Shekhar sir.

[@Drganguli]

The days of money printing like maniacs is over. Economics 101 is striking back at these PhD central bankers who forgot the basics

[@stephenmani8495]

Shaktikanta Das is NOT a PhD in Economics. He is a mere History graduate, and and IAS Officer. The two previous appointees, ie. Raghuram Rajan and Urjit Patel were both PhDs and top-notch international economists, but the Government got rid of both of them, because the current Government did not like their genuine economics-based advise. No sane economist in the world for instance could have supported the insane and self-destructive policy of Demonetization that this Government implemented, which destroyed the Indian economy overnight. Naturally, the Government did not want any more economics-qualified person as RBI Governor, and instead appointed a typical yes-man IAS Officer with a History degree. Everybody is happy now, except of course that our economy is going backward, with Bangladesh is now ahead of us in terms of per-capita GDP. If the Government continues doing what it is doing, soon Nepal and Bhutan will also be ahead of us in terms of per-capital GDP.

[@Drganguli]

@@stephenmani8495 I was talking globally. RBI is doing this as a preemptive action as the US fed is increasing rates which will cause severe rupee devaluation

[@rajx7120]

@@stephenmani8495 Dude, we are having economic recovery. Demonetisation is old news. Highest manufacturing and service exports ever. There is no chance we will get behind Nepal or Bhutan. Our problem is expensive petrol, and inefficient agriculture. Support farm laws, and see if any Arab countries giving free oil. I hope India captures more of cheap Russian oil. We will see better growth then.

[@samritichoudhary714]

@@rajx7120 there was no chance that india would be behind Bangladesh. But now it is. So i will not be surprised if india falls behind bhutan and nepal. And yes its reason will be it cells like you. Itne bure din toh aa hee gaye hai ki hum Bangladesh, nepal, bhutan, pakistan se compare kar rahe hai india ko. Aur kitne ache din chahiye 😅

[@deekshantbelwal1269]

@@stephenmani8495 if muslims keep producing 4-5 kids per capita income will always be down. Hindu families specially in cities are well off now.

[@ragus1416]

It is a good content. Good work!

[@disha_chaudhari5864]

SG...Sir I even don't know about E of economics but you taught me Very nicely.. thanku..🙏

[@AshishSharma-pl4xb]

Shekhar ji Aap Bande mujhe badiya lage. Listening you from past one month

[@chickenbuttermasala8458]

Finally an opportunity for the return of Ilanomics

[@satoryvivseeker]

Thanks

[@arunhuddar]

SG, it would help to dig deeper on unemployment. On one side we hear large numbers being unemployed and at the same time; there are no farm hands when you talk to farmers, there is a labor shortage (skilled and unskilled) when you talk to civil contractors, good accountants are difficult to get, Schools are looking for teachers, IT companies are struggling to find people. I guess most who complain of not having a job are looking for a government job ONLY and don’t want to take up anything else.

[@vinodmenon3591]

It is because everyone wants a desk job and work on a computer, nobody wants to sweat it out

[@ravindra24kulkarni8]

nicely explained

[@vijaykumar-il7iu]

Excellent sir !

[@ProudlyINDIAN360]

I am happy to subscribe. Make more content on Financial education with respect to global change

[@chris-pj7rk]

Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market/crypto market has plenty of opportunities to earn a decent payout even in a downtrend, with the right skills and proper understanding of how the market works.

[@bobbygunz9254]

Courage taught me: no matter how bad a crisis gets, any sound of investment will eventually pay off - Carlos Helu

[@claradidi7573]

@@bobbygunz9254 You are so right. I know because my advisor is able to find so many good plays. My portfolio literally went from few degit to many degits last year. all really exciting. I guess it’s the experience and better judgement

[@viviangall1786]

@@claradidi7573 Hey! Please who is this advisor of yours? I guess success really means total knowledge and I hope he/she can help me get back what I lost. Can I have an easy access to reach out?

[@claradidi7573]

@@viviangall1786 Nicole Ann Sabin is the manager's name. Why not run a check on the internet for her website where I believe you can contact her from.

[@viviangall1786]

@@claradidi7573 I just look her up, I left a message i hope she reply. Thank You!!

[@salilpunoose5248]

Great episode. The so called out of turn rate increase was simply due to the LIC IPO. RBI was keen to increase in April but was asked to postpone it by the Ministry mandarins. As soon as anchor investors confirmed that the IPO will be fully subscribed on 3 rd May , the MPC met and cleared the increase in repo and CRR.

[@ThePrintIndia]

Thank You Salil for watching. Hope you loved watching today's episode. Keep supporting our channel and do keep writing in --Shekhar

[@bablum2k3]

Good point..

[@bristleback1759]

Man just completed graduation and headed for making his life living his dream then here comes the PANDAMIC, WAR, INFLATION AND FINALLY GREAT DEPRESSION.

[@svs4305]

Why not bring down petrol prices to control inflation

[@rosieroti4063]

A very good idea. Can we explore the possibility of anchoring Fuel prices to GST?

[@jaydeepgadhavi5465]

Nice insights. The reasons mentioned in the conclusion like increased money supply and food & energy price rise due to war hold more truth in other countries than in India. Our inflation is driven by supply chain constraints before pandemic. We haven't artificially increased the liquidity. It's not wise even to do so always

[@nicksonpinto2074]

More like demand crisis supply crisis like a dna helical spiral...This can be seen from so many signals. New and sensible infrastructure spending by the government will put money in the hands of people thereby increasing the desire to produce (supply) more increasing the size of economy....Fear of government interference in economy activity needs to be brought down.

[@jaydeepgadhavi5465]

@@nicksonpinto2074 From my limited understanding a demand slump in isolation results in deflation of prices instead of inflation

[@nicksonpinto2074]

@@jaydeepgadhavi5465 In short term yes, But then producers react to it too by decreasing volume...especially if cost of production is high ... Which results in job losses which results even lower consumption leading to lower demand which results in even lower production and the cycle continues...

[@jaydeepgadhavi5465]

@@nicksonpinto2074 That was an interesting take

[@vikaschandrakar4746]

Excellent

[@Kumar13782]

A good analysis for a UPSC aspirants.....!

[@maheshnair208]

Awsome sirjee!!!

[@gopinathrajenthran5265]

The worrying situation now will be, the banks will jump out to increase the interest rate for all the loans. But still they will maintain the existing interest rate for the customer's deposits.

[@bablum2k3]

No. Deposit rates too will go up

[@kaamarajalankan5792]

@@bablum2k3 I strongly believe his point. My parents who are senior citizens have some FD with SBI. But the Deposit’s interest rate is not raised yet. But on the other hand, the home loan interest rates are already raised by the bank. If you don’t believe, just check the SBI website. Losing hope on this banking system and other financial institutions..

[@bablum2k3]

@@kaamarajalankan5792 I am an employee of a psu bank. Our bank has increased the deposit rates by almost 1% over last 1.5 months

[@dhanjeepandey4252]

Good one...

[@pamtam1]

What Shekhar Gupta could not speak about the US economy is that they had the fastest rebound post pandemic, they have a much higher savings rate today as compared to previous US governments as well as the rest of the world. Very importantly, the US has a very, very tight job market today which is increasing the demand of the labour force to the hilt and this increases huge opportunities for normal US citizens to look for multiple jobs as well as demand higher wages. The stock market rose 3% and the US bond yield fell, after Fed interest rate hike of 0.5% while in India 0.4% interest hike made the stock market to fall and raised the Indian bond further.

[@tarrun1356]

Fuel rates need to be decreased for inflation to decrease

[@govindschavan]

I saw a video yesterday on KZbin, basically saying that the gas prices are going up as an overall trend because the gas companies are not investing their money in more oil rigs, but they are just pocketing the profits. They don't see oil as a viable energy source in the future so there is a lower emphasis on constructing more oil rigs.

[@rameshbhat8216]

This is not correct. Gas imports are cheaper to import than to produce here

[@govindschavan]

@@rameshbhat8216 you are disagreeing with me but I don't understand what your point is. If the gas companies don't invest in new rigs, the gas supply gets constricted, leading to higher prices. A few years ago, the price of oil futures went negative, pointing that the oil prices would have kept going down if things had continued as usual.

[@parlok]

because no point in investing in something, which no one wants to use. The Green Deal has been advertised too soon.

[@kushaldeotale7639]

shekhar ji and print i am requesting you to have one discussion on this topic with Rohit Srivastava from IndiaCharts, he is one of the brightest minds in india who tracks global financial activity on daily basis

[@zaqwsxcde2341]

Someone needs to tell RBI that different kind of fire require different extinguisher. You don't douse electrical fire with water. Similarly, you don't fight supply side inflation with rate hikes!

[@xDyJ]

RBI doesn't have all type of extinguishers. It has some. The others are in the hand of Governments in form of tax cut.

[@amritpalsingh3293]

Sir why don't you do a Johnny Depp vs Amber Heard case? And also the prevalence of false cases against men. It's an issue that is really taken

[@chickenbuttermasala8458]

Lmao ik there are better topics than this but I'll love his take on this

[@amritpalsingh3293]

@@chickenbuttermasala8458 No it's on larger thing. False cases of CAW on men. How it has destroyed careers and way iut It can include cases where men have been accused of rape by live-in partners, rape on the pretext of marriage etc. Amber Heard Johny Depp can be just a reference

[@chickenbuttermasala8458]

@@amritpalsingh3293 yeah agreed , i was talking about Jhonny Depp case in sepcific

[@amritpalsingh3293]

@@chickenbuttermasala8458 See bro, listen to this. I think time that other side be covered. And it's so hard for a woman to be punished in gender equal laws in US Imagine India, where laws are regressive kzbin.infoiG_noZqgtdc?feature=share

[@ThePrintIndia]

That is actually an interesting suggestion. I will surely try to take this when possible, meanwhile you can watch our excellent report on wives leaving their husbands once they go abroad (prevalent in Punjab) to get a more collective perspective. Thanks again for watching Amrit. --Shekhar

[@webmaster3175]

Monetary policy made easy for laymen like us. Repo, Reverse Repo, CRR, SLR, Stagflation and I am only at 10:38. This is what separates outstanding journalists from tha pack. Use of jargons made so easy. The Print should make more of these. Wonder what happens to you when you review some movies?

[@arjunps6776]

Now we need to see if banks and govt increase the interest rates on various deposit schemes to suck more liquidity from the market. Interest rates have been abysmally low in the past few years. As for the stock market, it's karma striking back. The indices have been propped up by excessive liquidity. Party had to get over. In fact, markets had been expecting it. That's why it's been flat since the beginning of the year. If you're invested in good companies, you've nothing to fear. Markets will ride this out. If you're in it for the long term, don't keep looking at the index daily. Markets have seen this and many.

[@b16095]

SLR has always been there. How come - Liquidity has been squeezed now?

[@RahulYadav-nk6wp]

Meanwhile my salary wages won't move up a rupee. 😤

[@Brokenshadi]

I have never understood the rationale of such low interest rates in countries like US , UK and Canada. I think that international central banks should stop seeing monetary policy as a Magic wand for growth.

[@tyrionlannister6847]

Badly missing Ilanomics, ☹️plz continue it

[@dhavalchheda1626]

Don't know why people were really suprised. They have been hinting at it since ages. It was a common sense move and they did it swiftly as well.

[@Zethuzzz]

Where are the ‘experts’ who were urging the govt to print more money during the pandemic?

[@atrimos]

underground

[@Sam-sg9mp]

Why is inflation more? is it due to demand increase or due to Supply side prices. Demand is just increasing and rise in prices of commodities is due to supply price increases, control it and not kill the Growth

[@yogeshbabu9942]

With so many positive things about hindusthan economy rbi did rightly and even share mkt is positive

[@niminsuresh4249]

Actual reason for inflation is pure increase in cost and for that if we reduce money supply how wil that help?

[@petergriff7624]

It's due to consistently high core inflation and not because of headline inflation.

[@praaveen3730]

Government will print more and more money... And blame inflation for it's decreased purchasing power, It's up to people who work their precious time to get money which depreciates rapidly... It's high time that people forget keeping money in banks, fds etc and explore more options to protect their cash against inflation

[@kunalraizada6974]

Please do next episode on who report on covid deaths

[@kartiksachdeva4196]

Awesome

[@armish4197]

On top of CRR + SLR, banks need to lend a significant amount to priority sector, mainly agricultural Loans which almost never gets paid back via Loan maafis. In addition to above, banks needs to lend under political arm twisting, borrower varies from local MLAs, mafias and likes of Vijay Malya almost all of which becomes NPA by the time ruling party changes -in essence whatever limited capital banks are left with gets lent at much higher rate of interest e.g. gets borrowed by that honest taxpayer at a much high rate

[@Sher.Puttar]

Dear Shekhar Ji, you so good at telling story, and that to on such boring subjects like politics, economy, etc. why dont you make movies?

[@anshagrawal6289]

What genre would you like form SG?

[@Sher.Puttar]

@@anshagrawal6289 he knows better.

[@ThePrintIndia]

Haha ! I will take that as a compliment. Thanks for watching. Keep supporting the channel. --Shekhar

[@Sher.Puttar]

@@ThePrintIndia you bet sir.

[@amitoshmishra1641]

Please upload by 9 pm

[@AjaySingh-rv1og]

Please do a video on Rahul Gandhi partying in Katmandu.

[@Haha-hi3mo]

7.15 someone clarify basics for me.Increase in CRR reduces liquidity at the hands of banks and that means they have lesser money to use.This money ,according to Shekhar sir is used for lending loans further.Hence increasing CRR reduces the banks capabilities to give more loans as per Shekar sir.But in my view ,every loan thats granted has nothing to do how much money is with Banks already,a new loan is always a new money through a new entry in system and that these loans are not provisioned from total "Deposit" money but rather its a new money generated always.So Shekhar sir made a mistake i guess?@ThePrint

[@bablum2k3]

How can a new loan be new money? Banks can lend as much as they get through deposits only. So increasing the CRR does affect the amount of money banks have to lend.

[@nishanthnellutla]

This was a good preemptive measure by RBI. Markets fell today because no one was expecting a rate hike, in a few days the shock will be digested.

[@bunnysingh2889]

India is in a better pisition in uk the wait for nhs national health service operations is over 6 million .the general practitioners are not seeing people before 3 to 4 weeks .even middle class brits are going to charity food banks .

[@mutluruvasudevan193]

Well done RBI, be proactive & don't get entangled with Politician's free bee

[@vivektripathi2994]

In March, CPI was 6.95%

[@vadiraj2169]

Shekhar , suggesting you to make on Arctic alliance with India . I just read that India trying it's hand on Nordic countries resources. Next cut the clutter please.

[@rajeshbobba3851]

Decrease imports and defense imports.

[@JS-zc2jr]

#theprint 👍

[@Sam-sg9mp]

We must make our Policies to help reduce the input costs as US did by controlling Oil and China did by subsidizing the manufacturing and keep the prices down, they didn’t killed the growth, now growth is needed wrong decision by RBI, we will miss this opportunity to grow and come out of COVID effects

[@dnarmmuraj6108]

India’s elite layer of income is in IT industry. Many IT giants operate in abroad with income based on outsourced project from those foreign countries and paying a reasonable portion back to those base operation country, basically the money liquidity is flow back to same countries as TAX who gives business to Indian companies in Hefty US or EUROS. We talk about make in India but literally paying out of India. Why don’t these IT giants and FBC companies operate completely in India. I still don’t understand why these companies operate with heavy.human resource in abroad in the name of bilateral relationship sake of creating jobs for foreigners rather make them come to India and work.

[@chandramoulibaskaran3886]

Covering a national issue without blaming Modi and BJP? Impossible; I have to play this again!

[@dreamer_tom]

Listen again to Modis speeches till 2013,regarding inflation, petrol price, Diesel, LPG prices dollar rates. We miss that honest man very much