Monday, April 14, 2008

we were expecting it and it has come. with inflation shooting up beyond 7%, a looming elections and a coalition government whose last five years was full turbo charge on fake development and its policies is now starting to complain and blame.

as expected our honorable finance minister, whose one sided policies has led to almost total negligence on agricultural sector with zero focus on land, soil, water, rivers and forests along with massive subsidies to fuel fake growth is taking a toll. a toll in which the abused agricultural sector has lost its wherewithal to feed india on sustainable terms.

sunita narain points out beautifully in her editorial.

let's see what PC has to say with our observations below each one.

Mr. Chidambaram said the issue of inflation raised by the Fund as it pertained to India was indeed a “very serious” concern.
there was absolutely no concern from the government when budget was announced couple of months back on inflation. how come it is so serious now? is this pointing to a huge policy and oversight gap. or is it the usual election rhetoric without even understanding about inflation and how it is going to play in coming days.

Describing inflation as “the current biggest worry,” he said: “There could be unexpected political developments and there could be natural calamities. All other factors today, I think, are positive.”
current biggest worry?? that summarizes how PC and his team has been blind to concerns of balanced economic growth. balanced in terms of sustainability, in terms of quality of life, in terms of preserving and benefiting from our ecosystem and in terms of inflation moderation. a failure on all fronts except the front of fake development is the last 5 years of the present government.

The Finance Minister said: “We can take satisfaction in the fact that our inflation is lower than the inflation in many countries. But that is of little comfort to those who suffer as a result of inflation.”
that we expected. look china is at 8 to 9% inflation and we are just 7%. so we are good to go. never mind that this 7% inflation is a killer for many hundreds of millions of indians who live a day to day hand to mouth life.

“India’s inflation is high today because of food prices, crude oil and commodity prices,” he said. If India wished to avoid the volatility in food prices, the only option was to become self-sufficient in all food items.
and dear sir, can you please explain what your economic policies has done to make sure india's agricultural sector has been energized and hence india can be self sufficient. or maybe you want to read sunita narain's editorial.

in the budget 2008 and in other budget's all we have seen is a throw-the-dog-a-meat approach for issues and problems and when it boomerangs on us then it is the usual blame game. the only grand logic, to answer sunita narain's question, is that the only grand thing is fake development and fake unsustainable policies that has become hall mark in last five years.


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