PRADIP SHAHCEO, Ind-Asia Fund, Mumbai (this
is affiliated to business interests of investor George Soros)
"The disappointment is the rate of growth (of the economy) and
the deficit--it has gone too high. One continues to see slackness of demand. Bold measures
are needed to stimulate demand, managing inflation through supply-side economics if it
rears up.
"Lets be a little expansive on expenditure and spend on infrastructure and
plan projects, while at the same time reducing excise rates on end products in industry to
trigger demand, like automobiles, textiles, or steel. Let the consumption expenditure
increase and demand be stimulated to keep inventories moving. This will trigger the
virtual cycle of buoyancy in demand, investment and stock markets and therefore,
growth."