Budget 2015 and unanswered questions.

Budget 2015 misses the important questions:

Budget of India for 2015 passed by Parliament of India with usual rhetoric and careful negligence to important aspects. Opposition which was in power till yesterday is as bereft of constructive criticism as it was out of ideas when in power.

Recovering economy:

Finance Minister called the economy as recovering economy in his budget 2015 speech. That sums up. Like recovering patient, the economy is in hospital and can not do much for others. Therefore it has to be nursed before it can do anything for others. So what the finance minister did? Raise the tax rate for all citizens and reduce the corporate taxes. His logic is that corporations are needed to invest and to revive economy.
Thus except for small matters, this budget is a status quo.

Economic problem of India:

The worst problem for economy is the Government Expenses and Interest payout on borrowings. 98% of revenue goes into these two heads. Continue reading

Celebrating inflation under economist Prime Minister Man Mohan Singh

These are days of celebration in India. We are celebrating inflation. High prices of food products. Instead of importing the expensive food stuff, the Govt. has decided that it will bring in Multi Brand Retailers like WalMart into India to share the loot. At what price this decision was taken will remain unknown till the Auditors will assess it. Considerations will be known when some journalist will investigate in genealogy of all concerned. Why such a sudden rush? It has no clue what to do with inflation. Does government knows what to do? RBI has decreased Cash Reserve Ratio. Last time it had reduced repo rate. So how bad is the situation? What is the worth of one rupee? This:

GarlicRs. 0.89 buys this one small Garlic.

And if we can afford to spend slightly more than a buck, we can buy this vegetable:

Bitter Gourd or Karela

It costs Rs. 1.08 only. Just the above one small piece. No More.

While Government is digging new holes to fill old ones, the Stock Markets are rejoicing over the decision of permitting foreign retailers to do business in India. However the past track record of Multi National Corporations indicate that they are the worst exploiters of the system. When a system with extremely weak/corrupt law enforcement, like that in India, exists, Corporations have treated consumers like fodder.

Any way I had one question: How the Prime Minister sleeps at night?

Does it not bother him that Millions of poor household in India has very meager fixed income and any increase in prices of food stuff is a punishment to go hungry at least once?

Or as every one says; He does not care at all?

Or he really has no clue? Like every one else.

Does a person holding highest position in the country for 8 years owes it to nation to explain what is wrong? Even if he was not elected directly by people but is in Office by being member of Upper House.

Can such questions be asked under Right to Information Act?

Several years ago, I saw a very meaningful painting and I shot a clipping which is now my desktop picture. The painter has illustrated the scenario very well. Here is a screenshot:

King and his courtiersThanks to the imagination of painter.

© Sandeep Bhalla

Inflation and Pranab da

A short story of Indian Economy

Two persons were digging hole. A passerby asked them what they were doing. Both replied together: ‘There is too much dirt, we shall bury all the dirt in this hole.
But what you will do with the rubbish you have dug out?; the Passerby asked.
One of the diggers looked hard into the eyes of passerby and took out a smoking pipe and a lighter from his pocket and after lighting, took a deep drag on the smoke then turned towards the passerby and said ‘Look we have done so much for the people, now they must also do something.’
When the passerby asked ‘who gave you this idea?
They pointed their finger towards a Sardar wearing blue turban, dozing on a cot nearby and snoring heavily.
You must have guessed by now that two persons digging hole were Pranab Mukherjee, the Finance Minister of India and D. Subbarao, the Governor of Reserve Bank of India. They were trying to bury the inflation in a hole made from higher taxes and higher loan rates.
Wise and noble fellows!
Who else cared so much for this country?
Tell me!

© Sandeep Bhalla