financial mess

Post date: 31-Dec-2011 22:05:08

We have been hauled over burning embers by the surging crude. While most commodities, barring Gold were down in the year 2011,

Crude went up by 8%. A weak rupee compounded problems. Though crude came down form its peak of $114 a barrel in May to $ 99

at year end, our costs went up by 4%. Crude remains a huge stumbling block for India. This will impact our fiscal deficit.

The onset of the twin deficit problem of fiscal and current account deficit could adversely impact the outlook for our economy,

which is already under pressure and set to slow to 7.5% in this fiscal year by government estimates, from 8.6% last year.

The Government continues its muddle-headed approach to policy making. And with the announcement of the elections in 5 states,

all the pretenses of a policy initiative are dead, as the model code of conduct gets into operation.

The current state of policy inaction will now make the historians see the Late Shri P V Narasimha Rao in a better light

for his courage and conviction in the reform process for which the public face was Dr Manmohan Singh.

Hats off to your PV for your statesmanship.

You accomplished the feat with a minority Government, what the current dispensation cant despite a thumping majority in the lower house.

So is there no hope?