Thursday, October 18, 2007

No FII capital flow is good for the Economy?

Ajay Shah, in an interview with CNBC-TV18 says how the Government cannot fully control capital flows. Watch the video.

He says,
"The basic point is what is India going to do about capital controls. Do we want to become a modern market economy, do we want to integrate into the world economy, do we want to harness the benefits of globalisation or not?

There is a school of thought which thinks that the good old days were better, the good old days when we did not particularly have capital flows and we were more cutoff from the world. That is the point of debate that all of us face today."
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