Admitting that the economy is slowing down and faces many a challenge both from within and outside, Reserve Bank governor Shaktikanta Das Monday urged everyone to look at the opportunities ahead and stop being the proponents of gloom and doom. The statement comes amidst reports that an increasing number of corporate honchos are livid with the Narendra Modi government, especially after a slew of initiatives in the recent budget, including higher taxes on the rich and foreign portfolio investors.
This had FPIs dumping domestic equities and debt like dung since the budget, pulling down the benchmarks by over 13 percent July 5. Continuing their selling spree that began with the budegt and amidst the rising uncertainty over the FPI tax and global trade worries, foreign portfolio investors, and as per depository data, have sold equities worth Rs 10,416.25 crore between August 1 and 16 and debt worth Rs 2,096.4 crore.
