Rains Hold Key to Better Days
Apropos the Edit ‘Message From the Stock Markets’ (Apr 4), two consecutive monsoons have been poor. The markets are hoping for a benign human intervention today from Raghuram Rajan. Should the seventh pay panel largesse come before another failed monsoon, heavy farm distress would follow. A substantial cut in key rates would accelerate inflationary trends. The domestic markets need to bear the pain a little longer till there is reasonable rainfall and the nation steers through an ominous hot summer ahead.