Satyam Computer case not to impact economy: Plan panel

Satyam Computer case not to impact economy: Plan panel
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First Published: Wed, Jan 07 2009. 05 04 PM IST
Updated: Wed, Jan 07 2009. 05 04 PM IST
By PTI
New Delhi: Asserting that financial bungling by Satyam Computer will have no impact on Indian economy, the Planning Commission today said the Indian capital market is fully capable of dealing with the problems emerging from this case.
“One company’s news cannot impact the economy. When market responds to (development in ) a company, people are watching regulators response and the government’s response,” a senior Planning Commission official said here today.
He said it signaled the capital markets functions well and introduced a high degree of transparency.
“This would not happen in China and people now know that you can never stop some wrongdoing but the system throws out the problem very rapidly and hopefully for the future it will discourage people from doing such things,” he said, commenting on the Satyam episode.
The official said it was a very important issue and the way it has evolved indicated that the Indian capital markets come out of it quite well.
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First Published: Wed, Jan 07 2009. 05 04 PM IST