The current crisis is much worse than 1991 because this time there’s no Narasimha Rao to bail us out.
— Sunil Rajguru (@sunilrajguru) August 20, 2013
Day: August 20, 2013
Cartoon:Mujhe Mere Rupee $e Bachaao
The government today banned duty-free import of flat screen TVs by air travellers in a bid to prop up the Indian rupee, which declined to below the 63 level against US dollar.
The government, according to a notification, has decided to “disallow import of flat panel (LCD/LED/Plasma) TVs as part of free baggage allowance” with effect from August 26.
Air travellers currently can bring a flat screen television for personal use without paying any duty.
This would mean air travellers bring in TV as part of the baggage from August 26 would have to pay customs duty.
–from Financial Express
Foreign Outflow Fear Triggers India Selloff
Linkfest:Aug 20,2013
Some stuff I am reading today morning:
The Market Vs UPA (Firstpost)
PE Industry’s latest challenge:Zombie funds (Mint)
FMC thrashes NSEL figures (BS)
Vedanta’s 50,000 Crore blunder (ET)
Fed Fears reverberate in India (WSJ)
Why the bloodbath continued in rupee/debt markets (Moneycontrol)
Crisis has saved Germany 40 Billion Euros (Spiegel)
Bond King Bill Gross meditates…do you? (Marketwatch)
Dubai sees need for tallest office tower amidst 45% vacancy (Bloomberg)
7 Ways to generate brilliant ideas (BI)