Marc Faber on the Indian Market

Marc Faber : I do not think that the budget was particularly encouraging , I do not thing there are enough privatizations but in the other hand I do not think it's a huge disappointment , now what happened in India is we had a very powerful rally from the inter-day? low in November 2008 from less than 8000 to recently over 15000 ....and I think what we may see now is possibly a retracment of the gap we had between 12000 and 14000 when the election took place , so I won't be surprised to see the index go back to I don't know say the range of 12000 before the bull market resume but I do not think we will make new lows in the index ...etc...Marc Faber believes that the correction is only desirable and is desirable from a long term prospective , even if India does not grow at 9 percent and only grows at 5 or 6 percent it is not the end of the world says Marc Faber