At last Manmohan Singh unashamedly warns that economic policy logjam hinders growth and states that the FDI and FII dollars are used for Debt Servicing. Is he a former Reserve Bank Governor? He fails to use his brains to invoke economist in him. Because he is not a Nationalist, I think so. He is typically a Bureaucrat.
As Gopala Krishna Gokhale said ” Bureaucracy is frankly selfish and openly hostile to National aspirations”.
Foreign debt can be better serviced by increasing production in India for export and also by reducing import Bill. After opening up of the Indian Markets to the foreign traders ( in the name of Economic reforms ) balance of trade of India has shifted in favour of the US. Manmohan is a master bluffer. Does he not know simple economics?
Debt is payed back with nominal interest, where as FDI And FII ( dollors invested by foreign traders ) are to be payed back several times say 10 or 15 times their original value by India. He is making us to pay Rs. 10/- in future for a present debt of Rs. 1/-This is frank admission of Manmohan of New Delhi’s failure to Government/ Public finance set right. And his bluffing has no limits. Petrol and Diesel prices in India are the Highest in the world.
Diesel price directly determines the prices of all commodities as it is used for transport of Goods. People will groan under the weight of increase in Prices soon. One example would reveal the truth about Economic reforms of India. We all Know that Golden Quadrilateral National High way was constructed during BJP’s Vajpayee’s term. Cost of the project was Rs. 1,80,000 Crores.
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It was finished in about 4 years. It was Financed by World Bank partly may be about Rs. 1,50,000 Crores. During this period import bill of India for Earth moving equipment and allied machinery from Europe and the US was Rs. 1,45,000 crore! The debt is now being payed by Indians in the form of Exorbitant Toll Tax on NHs.
** This comment is posted by me in Times of India in response to a news item ‘PM Manmohan Singh warns policy logjam could slow growth to 5%, defends FDI in re…‘ dt. 15.7.12.
Economist PM failed miserably
Economicst PM Manmohan failed to make India Self Reliant economically. Does any one in India know what purpose FDI serves to Indian Economy? Why India runs after FDI? The FDI, which is in the form of Dollors, is used for debt servicing by the Government. This itself shows that the Economic professor ( Manmohan ) failed to make India Self Reliant economically.
It is the total failure of the PM to manage Indian Finances. Now he has become dependent on the Foreign predators to fill coffers of the Treasury. Please note that this situation prevails in an Economist PM.
Despite the fact that Indian government collects Taxes highest in the World. And, FDI will not dole out Technology to India. India is getting Enslaved in disguise for another 2 decades under Patent Laws. And, it is true that prices will come down first with the entry of foreign traders. But, Once, the local petty traders are eliminated, commodity prices in the big retailers’ shops eventually go up.
This happened when Coca Cola reentered into India.
Hail India which is a Rudderless Boat!
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Nuclear research doomed
India’s Sovereignty is compromised for ever. Even without signing the Non Proliferation Treaty, NPT India had been pushed into quagmire of International / American control and supervision of our indigenously developed and zestfully guarded Nuclear Program for ever by the Government. As per the recent statement of Dr Manmohan Singh India would commence the drill of bifurcation of Civilian and Military reactors now itself and not by 2014.
I doubt if media is turning a #Nelson’seye to the on goings or hands in gloves with the Government . The Public are kept out of the glare of affairs of National security deliberately , not to arouse any public out cry . How can a minority Government decide the fate of 100 Crore people in the Era of Media Raj ?
Lord #SwamyVivekananda 110 years back lamented that ‘ the only hope of India is from the Masses. The Upper classes are physically and morally dead. ‘ This is true even of today.
Masses cannot be lead by Intellectuals ( Babus ) in India because Intellectuals or the Learned become alien to the people as soon as they get educated and get settled financially.
Mass man , i.e., leaders from the masses have little Nationalism ,to ponder for, as they are busy persuing their Caste / Community agendas. Whether a dozen British soldiers should be sent to Tikrik from Basra is discussed in the Parliament of the UK , why Indian Parliament shy away to debate and vote on such National security issues.
Whether a dozen British soldiers should be sent to Tikrik from Basra is discussed in the Parliament of the UK , why Indian Parliament shy away to debate and vote on such National security issues.
Gopala Krishna Gokhale on Indian Bureaucracy:Gopala Krishna Gokhale 90 years back complained , “ the Bureaucracy is frankly selfish and openly hostile to National aspirations” . In the present context , his word Bureaucracy can be read as the Establishment including – Media , Politicians , the Learned , etc., Is Indian establishment in deep slumber or acting traitors to the National interests ?
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