My dear friends,
The Inflation Index raising alarmingly, Crude Oil Prices also touched its record p...
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My dear friends,
The Inflation Index raising alarmingly, Crude Oil Prices also touched its record price of $ 143 per barrel, Stock Market Index shows up drastic downward results with more losses and the commoner left out to suffer more and more.
It shows clearly the inability of our Government to contain the wholesalers, retailers and hoarders.
The existing scenario of U.P.A’s Political games have no time to sort out nations issues and they have time to renegotiate, appease and compromise with their Allies.
Left parties extract their best to reap U.P.A by frequent withdrawal threats and Congress has no options to implement any decisions on its own, be it a Nuke deal or Inflation issue.
Reserve Bank of India also failed to contain inflations even after implementing certain corrective measures to financial recoveries.
If the R.B.I could have raised those interest rates on its advances, hoarders & black marketers would have found it difficult for using those borrowed money for their nefarious activities.
Whole problem for inflation is the ongoing forward trading on essential commodities and Government had no guts to ban futures for at least 6 months on trial basis.
Government could have implemented periodical small increases in fuel rates when the global markets indicated the steep rise in crude prices and avoided the losses and of those common men’s burdens.
When all other countries do faced inflations due to Global Oil Crisis and succeeded to contain its inflations to certain levels, Why not India?
In the name of free trade, the government has refused to ban forward trading on all essential commodities still.
The result is these types of steep rise in prices for all commodities and sufferings of the common people.
The major problem of this government is that it allows its narrow self-serving political agenda to ride roughshod over the needs of the economy and the people.
Unfortunately for the UPA, the government has had to perform with both its hands tied behind its back thanks to the fact that it was always forced by the Left parties, the UPA’s powerful "external supporters", to abandon all its "out of the box" economic programmers and policies.
The government remained under the Left’s sustained blackmail pressure tactics to do its bidding in order to survive in office.
Dependence on the Left, instead of being an asset, became a constraint on the government’s initiatives.
The Left’s veto extended to other fields of government activity as well, the nuclear deal with the United States providing a classic example of the success of its cussedly obstructionist strategy till now.
The UPA is bound to attribute to bad luck rather than to negligence the explosion in the inflation rate from a manageable four per cent when it assumed office to an unmanageable 11.42 per cent in four years.
Time to wake up and stand as a saviour of Nation’s welfare by some bold decision making and corrective political alignments from Congress led Government can only save common citizen’s woes or face the waterloo in the forthcoming elections.
Let the next able Government implement corrective measures and save the country.
Subbu
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My dear Chandramouliji,
Thanks for the kind visits and observations.
Good to see the elobrate comment on how we failed in our systems and the mismanagements on economical reforms.
Our FM is more bothered about investors especially MNC's and overseas customers welfare than that of common man.
The UPA knows how to hood wink the public & remain in power till the elections, they can find new partners to support them to exist.
The abnormal taxes on essential commodities is needed for their so called socio economic reforms and people knows how they cheat us.
We can teach them the lessons in the forthcoming elections.
Having cornered enough funds for the elections these political oppertunists allowed exploitations from black marketters and hoarders to swindle common men when there is no acute shortage of materials nor natural calamities faced the nation.
It is the game of forward trading for which these big wigs use the nationalized banks borrowed funds and cheat the public.
There is no justifications for such steep rise in prices in the past 4 years of UPA rule and it is a free for all oppertunity for those big business people and MNC's who went on exploiting us every day.
Subbu
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The inflation rate increase will further go up to 14 to 15 % according to recent guess. Our great FM is interested only in the revenue on commodity market exchange. Those who dont even see or heard of about rice/wheat is trading the same through stock market. Our FM's concern is that the investor's interest on commodity exchange should not get suffered. He also not interested in reducing the revenue accruing through STT (Security Transaction Tax) which is a major source of revenue. Why should he bothered about the bloody poor and MIG's . Similarly the recent refusal to reduce the Excise duty on Petroleum products. We are paying nearly Rs.32/- towards tax on petroleum products. With regard to Lefts, they threatened the UPA Govt on petroleum products but filled their pockets and just shouted slogans and kept quite. This nuclear deal drama also to divert the public from the increase in prices. Actually, the UPA Govt. is not actually interested in signing the Agreement. It is only PM's interest in doing it so. Cong is fearing to face the elections due to uncontrollable increase in prices. Left also opposing the deal not due to nation's interest, it is due to the fear that Muslims will not vote them. This is evident by their warning to Mulayam Sing Yadav that he will lose Muslim vote, if he support the UPA Govt on Nuclear deal. Hence no body is interested in finalising any deal due to their personal and self interest.
Chandramouli
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