S&P lowers India’s long-term sovereign credit rating from stable to negative. What would it mean in the long run to the market? How would it impact the currency exchange rates? What kind of election result and post-election steps can revive the better rating? Interesting questions.
In a crunch hit economy, it is surprising to hear that a particular sector is announcing salary hikes. India’s Government backed (PSU) banking sector is all set to announce a salary hike. There may be a ‘election year’ syndrome behind this, but it also demonstrates how strong India’s public sector banks have grown in the last 10 years in terms of their financial strength and portfolio diversity.
P. V. Narasimharao. My most favorite PM of India. He is an unsung hero for his economy improvement efforts for India. He is the most disowned Prime Minister by the Congress Party.
Today’s Telugu dailies carried a front page advertisement by the Congress Government, naming a rual water project after P.V. This is a welcome surprise. Good to see his photo on the front page.
The election focused interim budget of 2009 is not so market friendly. BSE Sensex is down, gold is up and Rupee is heading down against the dollar. Also, not having any sops for realty and auto sectors might have brought down the market mood. The increase in fiscal deficit is another negative factor for the economy. Overall, the budget has nothing great to talk about.
It is more than 2 weeks since I did this talk on Virtualization and VMWare at Spurthi-09. The talk is well received. I couldn’t spend much “post-class socializing time” at the venue due to travel pressures. If the attendees have any further questions, they can feel free to contact me.
I made a hectic weekend travel to Vizag and Yadagirigutta. Nights are spent in train travel and day time is spent in visiting people/temples. Came home very late on Sunday. Met quite a number of people I haven’t met in the last few months.
This CPNI (of UK) tech note on Security Assessment of TCP is worth reading.