Instead of encouraging FIIs ie investment in financial intitutions from the west India should go in for FDIs ie direct investment in projects on the ground in India by the west. This is the path followed by China. This will prevent casino capitalism which can wreck the indian economy.Also the governor of the Reserve Bank of India should be changed so that interest rates are lowered and indian industry and the manufacturing sector picks up. The present governor seems to be acting at the behest of foreign FIIs and not in the indian national interest.
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