Thursday, March 28, 2024
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Britain feels the heat of Brexit

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In unity lies strength and Britain is already feeling the heat of the Brexit vote. The European Parliament urged them to immediately trigger the divorce process to show solidarity among its other members who feel Britain’s exit from EU may not be their win but definitely the loss for its citizens. Britain’s currency has been pounded out of shape and recession looming large as experts feel that the exit decision was taken in haste.

Brexit saw carnage on the world stock markets but sanity finally prevailed and Indices on India’s stock exchanges have almost regained lost ground in a matter of few trading sessions which shows the inherent strength in our markets. Pay commission recommendations too have been passed in Parliament with January 1, 2016 as the record date which means increased money in the hands of government employees and that should fuel our economy in a big way. With GST bill almost certain to be passed in the coming monsoon session, there is no dearth of positive news which is good news for our economy. Brexit is a boon in disguise for India which in the coming days would be a hot destination for investment for people from abroad as they queue up to invest on our shores to participate in our country’s development and progress as India offers record returns when compared to other global economies!

S.N. Kabra

(The views expressed by the author in the article are his/her own.)

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