Monday, November 29, 1999

Global uncertainties to impact Indian equity market:Fin expert

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Mumbai, June 18 (PTI) International uncertainties would have an impact on equity markets globally, including India, a top financial sector expert said. "The uncertainty in Europe will have an impact on the emerging markets, including India," Royal bank of Scotland''s Country Executive (India) Meera Sanyal told reporters here today on the sidelines of an event. European crisis is a cause for caution and concern and this is a lesson for India as well. In my opinion, fiscal deficit should be controlled to control this situation, Sanyal said. Commenting on Indian economy Sanyal said, India would not be affected by the crisis in a major way. In India, the growth story is intact and the government policies are positive for growth. Moreover, there is optimism of a good monsoon this time, she said, adding this will help in easing high inflation rates and good credit take off. Commenting on deposit rates she said, an increase is unavoidable. "Liquidity is quit tight at this moment. After advance tax, broadband and 3G auction, deposit rates start going up," Sanyal said.

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