Saturn entered the sign of Capricorn on December 19th, 2017.
Saturn will occupy the sign of Capricorn from December 19, 2017, to March 21, 2020; and then finishes up its transit from July 1 to December 17, 2020.
Saturn brings famines, failure of crops, disasters of various sorts and national depression due to political reverses and general want or popular discontent. Its effect on the market is to produce a marked depression or deflation of security values.
The Capricorn is the ruling sign of India, New Zealand, Mexico.
Now let us study the effects of Saturn in Capricorn in previous Saturn transits
Saturn previous transit to Capricorn was between November 11, 1988 to February 6, 1991.Before that Saturn transited to Capricorn between January 5, 1959 to January 3, 1962.
During Saturn transit to Capricorn between January 5, 1959 to January 3, 1962 if look at the political and business condition we can clearly see the effect of Saturn.
The major effect was felt after Saturn left the sign. We had a war with China and caused crisis.
1. Food shortage after 1962 war and India had to avail US food assistance under PL 480,
2. Forex crisis after 1962 war and India had to issue GOLD BONDS,
As India continued to experience deficits in trade and the government budget, the country was
aided significantly by the international community. In the period of 1950 through 1966, foreign
aid was never greater than the total trade deficit of India except for 1958. Nevertheless,
foreign aid was substantial and helped to postpone the rupee’s final reckoning until 1966. In
1966, foreign aid was finally cut off and India was told it had to liberalise its restrictions on
trade before foreign aid would again materialise. The response was the politically unpopular
step of devaluation accompanied by liberalisation. When India still did not receive foreign aid,
the government backed off its commitment to liberalisation. According to T N Srinivasan,
“devaluation was seen as capitulation to external pressure which made liberalisation politically
suspect… (Srinivasan, pp 139).”
Saturn previous transit to Capricorn was between November 11, 1988 to February 6, 1991. We faced economic crisis by the end of the transit. Main article: 1991 India economic crisis
By 1991, India still had a fixed exchange rate system, where the rupee was pegged to the value of a basket of currencies of major trading partners. India started having balance of payments problems since 1985, and by the end of 1990, the state of India was in a serious economic crisis. The government was close to default,its central bank had refused new credit and foreign exchange reserves had reduced to the point that India could barely finance three weeks’ worth of imports. It had to pledge 20 tonnes of gold to Union Bank of Switzerland and 47 tonnes to Bank of England as part of a bailout deal with the International Monetary Fund (IMF). Most of the economic reforms were forced upon India as a part of the IMF bailout.
From the previous transits of Saturn we can clearly say that when ever the Saturn transits Capricorn, we face fiscal deficits. The current government should act prudently to deal the fiscal deficits ,political reverses and general want or popular discontent