I knew this day would come eventually, I knew that Mr. Chidambaram would lead us to this stage when he said things are fine and the government will do everything to keep the animal spirit of our economy alive even while he knew that our borrowings have increased considerably and it was in no way in accordance to our spending, when you spend more dollars than you bring in what else can you expect, our import bill is now at around half a trillion dollars, this country is now staring at a huge trade deficit, mainly owing to its allegiance to "Dollar" so much so that it chose to snub real freedom seeker's like Snowden and Julian assange.
Our imports have been hurting us for a very long time and nobody seemed to care about it for a very long time until now, because now the dollar has been gaining strength against many major currencies, A weak dollar made things really different for Indian rupee in the past, the rupee was getting pushed up for apparent very limited reasons, now all those reasons have nothing to offer to make rupee competitive against the dollar, the NDFC market (Non - deliverable forward contract) has been pushing the rupee down even further, it would help if the RBI takes appropriate measures to make dollar delivery system streamlined so that the price of the dollar doesn't get spiked up too much beyond the markets requirement, and it would also help to keep a tab on the unwanted speculation that's happening in the currency market.
Things would be far worse if our remittances were to become a little shaky over which our government has no control, The Indian manufacturing is in shambles, a country which has 800 million mobile phone users has not been able to induce an environment for Indian mobile phone manufacturing to thrive and have a hold of at least 30% of the mobile phone market, how pathetic is that. Rupee has depreciated 20 % in a year, if this government is not going to take advantage of this depreciated rupee we all can be sure of one thing that we are being led by a bunch of nitwitted prosaic seemingly learned nut heads.
If I were the finance minister of this country now the first thing that I would be doing at this stage will be to have several measure's implemented along with the Department of industrial policy and promotion, and commerce ministry mooting for a shift in the way this country views its exports industry and manufacturing. India has always been reluctant to become an export economy. It has been such a difficult question for me to answer with so much of untapped skilled and unskilled cheap manpower why hasn't India managed to become an export economy, well I know the answers for most of the questions, one of them being there has been a lack of will to do anything about it, This government headed by the Congress party for sometime now has been bending over backwards to introduce the food security bill which beyond the comprehension of my nerdy little brain.
This government is trying to hard sell an idea that is sure to backfire like all its grand overtures in the past, fuel subsidies, farmer loan wavier, MNERGA, being blind to the inefficiencies of the PSU's. This government is making a terrible mistake of confusing charity with governance, charity is for people who cannot fend for themselves, not for a group of people who form an economy, who when given the chance to uplift themselves socially and economically will do so with the kind of precision that's close to the natural order of things. This government headed by congress will fall not because of its inefficient handling of things in the recent past but because of the grand overtures it made in the distant past even before the BJP or NDA came into existence. and yes of course corruption, how can one ignore this governments enormous achievement of putting our country's name high above in the coveted list of most corrupted countries in the world, is there a person in this government who can come out and say " I am as clean as your conscience wishes me to be"?, Confucius said superior men know what is right, inferior men know what will sell and i must add that the inferior men also know how to "Hard sell" it.
If I were the finance minister of this country now the first thing that I would be doing at this stage will be to have several measure's implemented along with the Department of industrial policy and promotion, and commerce ministry mooting for a shift in the way this country views its exports industry and manufacturing. India has always been reluctant to become an export economy. It has been such a difficult question for me to answer with so much of untapped skilled and unskilled cheap manpower why hasn't India managed to become an export economy, well I know the answers for most of the questions, one of them being there has been a lack of will to do anything about it, This government headed by the Congress party for sometime now has been bending over backwards to introduce the food security bill which beyond the comprehension of my nerdy little brain.
This government is trying to hard sell an idea that is sure to backfire like all its grand overtures in the past, fuel subsidies, farmer loan wavier, MNERGA, being blind to the inefficiencies of the PSU's. This government is making a terrible mistake of confusing charity with governance, charity is for people who cannot fend for themselves, not for a group of people who form an economy, who when given the chance to uplift themselves socially and economically will do so with the kind of precision that's close to the natural order of things. This government headed by congress will fall not because of its inefficient handling of things in the recent past but because of the grand overtures it made in the distant past even before the BJP or NDA came into existence. and yes of course corruption, how can one ignore this governments enormous achievement of putting our country's name high above in the coveted list of most corrupted countries in the world, is there a person in this government who can come out and say " I am as clean as your conscience wishes me to be"?, Confucius said superior men know what is right, inferior men know what will sell and i must add that the inferior men also know how to "Hard sell" it.
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