Reserve Bank of India (RBI) Deputy Governor K
C Chakrabarty was quick to reply in reaction to S&P(Standard & Poor's)
downgrading India's sovereign credit rating from stable(BBB+) to
negative(BBB-)( just one step away from junk bond status) that the country's
financial system is strong. This measure was taken in order to calm India's
capital market which has been hammered by the massive FII(foreign institutional
investors) outflow from the country & negative speculation
surrounding the S&P last downgrading of India's 10 top banks which
include the State Bank of India (SBI), ICICI Bank and HDFC Bank .
He was assertive on the fact that the
country’s financial system was strong and all risks to growth and the economy
were only internal, in terms of productivity and efficiency.
“It is only an outlook change and what is
coming in the rating is already in the know. The market has already discounted
it,” he said, to a question on the impact of the rating downgrade on external
borrowings, among other things.
RBI might intervene if the market volatility
goes high in reaction to this downgrade.He said pressure was already on the
government to improve the fiscal situation and the finance minister had
indicated through the budget on what was being sought to be done.
To get a clearer and comprehensive picture of
Country's Economic & Fiscal conditions ,RBI will issue its financial
stability report in the month of June. While RBI undertakes overall diagnosis
of the country’s economic and financial parameters every six months, it is a
long drag before combining all the reports and informing the Financial
Stability and Development Council, he said. The report is then made public.
Besides the fiscal & economic growth constraints
,this downgrading also happened due to ineffectiveness of UPA led Central govt hurt by corruption scandals and held back by
rebellious coalition partners, which made it far from clear that PM Manmohan Singh
will be able to deliver enough reform to improve perceptions in both domestic and international cricles.
Tech World
has been speculating about the 2012 release of the Google Tablet for months.
Now, sources close to this project say
the iPad competitor will debut in July.
Technology news website The Verge reports that
Google is pushing back the tablet’s previously expected May release, with a view to cut prices.
Manufacturers are working to bring the $249 price tag down to $199 or less.
Two and a half years later after its debacle
with Google Nexus One phones by
partnering with Verizon, Google is back
into focus —this time with a tablet PC. This first one will be a co-branded
(with Asustek Computer of Taiwan) Android device that is expected to become
available near the end of this summer—late July or August.
Lower
price will help Google compete with Amazon’s Kindle Fire — which is now leading
the 7-inch tablet market with its $199 model. Amazon sold over five million
units of its tablet last quarter. The Barnes & Noble Nook Color Tablet —
also running the Android operating system — is priced at $169 for the 7-inch
touchscreen version.
By contrast, Apple is high-end, selling one
of the most expensive tablets on the market with its lowest-priced 9.5-inch
iPad (16GB Wi-Fi-only) costing $499.
The 7-inch Google Tablet will run on the
Android 4.0 Ice Cream Sandwich OS with a Nvidia Tegra 3 quad-core processor. It is speculating that the delayed release could be due to
Google’s nearly finished Android 5.0 Jelly Bean update, which Google could be
waiting for before it releases its first tablet.
Once released, Google plans to sell its
tablets through its own online store, according to last week’s WSJ
report. So ,we can expect a tough competiton to Apple Ipad’s Market dominance
with the emergence of tablets unveiled by Tech Industry Titans (Google ‘s
Android 4.0 Tablet & Microsoft’s Windows 8 powered tablet in the last
quarters of FY12.
