Financial Daily from THE HINDU group of publications
Thursday, Mar 09, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 09, 2006 |
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Markets - Comment It's a correction: Chidambaram Our Bureau
New Delhi , March 8 Unfazed by the 216.82-point fall in Sensex, the Finance Minister, Mr P. Chidambaram, has described today's fall in stock market indices as a "correction." "It's a correction. It's nothing," Mr Chidambaram told newspersons reacting to the fall in the Sensex on Wednesday. Asked about the liquidity situation in the banking system, Mr Chidambaram said that liquidity would be tight as there would be huge advance tax payments in March. Meanwhile, the Finance Minister has called upon the State Governments to "spend" more, stating that they (States) are sitting on huge cash surplus of over Rs 50,000 crore. The Centre had recently transferred cash of Rs 20,000 crore to the States.
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