Reserve Bank Governor D Subbarao will present the review of the Annual Policy Statement (credit policy) on January 27, 2009. In the light of this, Ganesha predicts the kind of measures RBI may announce.
Transiting Planets on January 29, 2009 at 0530 hours
||Capricorn at 13 degrees
||Capricorn at 20 degrees
||Sagittarius at 29 degrees
||Sagittarius at 29 degrees (R)
||Capricorn at 11 degrees (Combust)
||Aquarius at 29 degrees
||Leo at 27 degrees (R)
||Capricorn at 15 degrees
||Cancer at 15 degrees
Mercury, the Lord of the second house of finances, of India's chart, is retrograde, at critical degrees and in conjunction with transiting Mars, an aggressive planet. Transiting Mercury and Mars are opposite to the second house.
There is a stellium of planets in the ninth house of India's chart, opposite to natal Mercury, the Lord of the second house.
Ganesha thus feels that the Policy this time will be progressive, with tight measures.
The policy will favor the purchasing power of the people, the budget and balance of trade as well as strength of the currency vis-a-vis other foreign currencies.
Unfortunately Jupiter being debilitated, combust and in conjunction with transiting Rahu, the policy may not be good for the banking sector, which can be understood from the increasing CRR and Repo rates.(Repo is the rate at which the central bank lends to banks in the short term)
To sum up, the policy will be highly targeted with no populism intended. The banking sector shares may probably take a beating on January 27, 2009.
Wishing India a good fiscal fourth quarter.
The GaneshaSpeaks Team