Today, the monsoon seems to have picked up. At least the Mumbaikars felt the rain fury. While some pockets are facing floods, Manipur and Jharkhand have been declared drought-hit. So, the picture is still murky as far as monsoon is concerned.
Meanwhile, the FM has tried to assuage concerns that the humongous borrowing program won’t fuel interest rates or spur inflation. It’s a Herculean task and only time will tell whether he and the RBI manage to achieve it. Fingers crossed on this one.
The PM and India are going places, literally. In a rare honour for the nation, Dr. Manmohan Singh presided over the National Day Parade in Paris. To top it all, the Indian Army spearheaded the march to the tune of "Saare Jahan Se Achcha".
Back home,we would reiterate our warning that one should not get fooled by any short-term spurts or reversals in key indices. Most of Tuesday's gains appear to have come on the back of short covering. Focus on your portfolio and take each day as it comes.
