Most Scathing Criticism of UPA /Congress Party

by rawemotions Sun Jul 21, 2013 6:02 am

http://www.indianexpress.com/news/while-we-were-silent/1140199/0

It is ironic that using the mask of (pseudo) secularism, that this incompetent government who's chief achievement has been to destroy the value of Rupee, could possibly come back to power.

In the months to come before elections, expect the UPA to unleash sudden initatives
a) Food security bill. No media outlet would ask, why after Congress ruling most of the 60 years Indians do not have food security
b) Sudden Black money finds, to claim that they got back Black money (Whatever happened to their declaration in 2009 that they will get it back in 100 days) and use it to justify their irrational social schemes (nobody discusses how in the future years India is going to find revenues for these schemes). They do not learn from the travails of Europe in mindless social security and from the US in the difficulties it has in funding Social security schemes.
c) Anti-constitutional reservation announcement for Muslims as a religion (despite the fact that backward Muslims along with Hindus and others have reservations in MBC quota), their chief votebank (Who cares about other minorities) by hook or crook & Special Sops for Muslims alone (after all as per Congress Muslims are entitled to first claim on India's resources)
d) A half-baked minimum wage law (without regulation) that can cause more inflation than the one already caused by MNREGA.
e) Introduce Communal Violence Bill in some other form to Polarize the population where Majority is targetted and use Caste to divide Hindus.
f) Claim credit for Cash Transfers saying that they are protecting the vulnerable against Inflation they caused by their half baked policies

No wonder analysts are saying that the real Rupee value to a Dollar is close to Rs70, while the common man sees the buying power of his/her savings dwindle in the face of real inflation.

by truthbetold Sun Jul 21, 2013 6:16 am

Raw,
you say rupee's real value is 70 per dollar but west accuses India of undervaluing its currency. What is the basis for your 70?
At present brick countries are struggling to stem ffi outflow . The economic slowdown is also sapping confidence. Gas and petroleum subsidies, current account deficit and upcoming food security bill make rupee more vulnerable.
You know that bjp supports all these subsidies.
Indian rupee could down for a while as in months.

by rawemotions Sun Jul 21, 2013 9:33 am

truthbetold wrote:Raw,
you say rupee's real value is 70 per dollar but west accuses India of undervaluing its currency. What is the basis for your 70?
At present brick countries are struggling to stem ffi outflow . The economic slowdown is also sapping confidence. Gas and petroleum subsidies, current account deficit and upcoming food security bill make rupee more vulnerable.
You know that bjp supports all these subsidies.
Indian rupee could down for a while as in months.

There are quite a few structural issues in Indian economy, but the profligacy of Congress / Sonia headed (NAG) has contributed quite a bit to it. After the unprecedented Farm Loan waiver and election win, she is behaving like a Mosquito that has tasted blood and going in for Social schemes for which no analysis has been conducted on our ability to pay.

While the Cash Transfer is a positive move to plug leaks, she is looking at it purely as a vote catching tool, instead of working with opposition to make it better.

She and MMS (despite being an economist) have wrecked the rupee and there are reams of articles written. But the highlights are frightening

100 Billion$ Debt has ballooned to 374 Billion$ in 10 years.
About 174 Billion $ expiring in 2014.
CAD is at Unmanageable proportions.
Very Whimsical policies. Imports are increasing but there has been no focus on concomitant exports. Nothing has been done to reduce Oil and Import dependence.
Just read the following for a quick review.
http://www.firstpost.com/economy/when-it-comes-to-the-rupee-you-aint-seen-nothin-yet-918317.html

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