Well the anticipated wait is over.. RBI and its policy action.. No surprises is what the newspapers read.. But what many failed to notice is the attitude of RBI about India's domestic problems, raising fiscal, Current account deficits and inflation. The message is clear, the government is not doing justice in keeping these measures in check. And ultimately blaming UPA government, if not partially but entirely about the India's ballooning problems. The policies are reckless and corruptions are at their highs. All this makes a case for Mr. Singh to step down from or convince Sonia ji/coalition parties that the problems are serious and need some tough decisions to be made. The second option seems to be unlikely considering that Mr. Singh is soft spoken bureacrat who all his life was faithful to Congress. Hence to restore his value system, his stepping down is essential.
Now not digressing from the topic, the next most awaited event is Budget. I am not expecting that any growth centric, anti-poverty, anti-corrupt and more anti things nature policies will be laid down. The expectations would be rolling back of stimulus partially and implement policies that are election centric. Congress neither have enough coffer to spend nor risk their own private coffer to get empty. But yes, they may stretch fiscal deficit by borrowing more and put more debt to Indian Citizens. Of course that is the price we have to pay for electing this sort of coalition government who needs to satisfy every other Indian.
So what should we do in this kind of environment of short term gains and long term pains. Nothing but to keep pain killers in place. Amen.
Now not digressing from the topic, the next most awaited event is Budget. I am not expecting that any growth centric, anti-poverty, anti-corrupt and more anti things nature policies will be laid down. The expectations would be rolling back of stimulus partially and implement policies that are election centric. Congress neither have enough coffer to spend nor risk their own private coffer to get empty. But yes, they may stretch fiscal deficit by borrowing more and put more debt to Indian Citizens. Of course that is the price we have to pay for electing this sort of coalition government who needs to satisfy every other Indian.
So what should we do in this kind of environment of short term gains and long term pains. Nothing but to keep pain killers in place. Amen.
No comments:
Post a Comment