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Letter to BS: Govt must accept its failure to control economic problems

The government must accept its failure to control the problems the economy faces today

How long will Finance Minister Arun Jaitley continue to assert that the government will take all possible measures to ensure that adequate liquidity in maintained in the system? Despite his assurances, the Sensex fell 536 points on Monday. NBFC stocks are under pressure, HDFC, YES Bank and DHFL have crashed. Yet they are saying they are monitoring the recent developments in the financial markets closely and are ready to take appropriate actions, if necessary. Which means they think no action is not required at this point. The government must accept its failure to control the problems the ...