Economic mess: BJP defends govt's fall guy Pranab
NEW DELHI: With speculation rife that sections in the government might be inclined to blame the economic crisis on the decisions taken byPranab Mukherjee when he was finance minister, BJP on Friday strongly took up cudgels for the President.Reacting to the debate on Prime Minister Manmohan Singh's statement on the economic situation in Rajya Sabha, leader of oppositionArun Jaitley took exception to what he termed the government's bid to blame the rise in fiscal deficit and current account deficit (CAD) on the decisions taken between 2009 and 2011: the period when Mukherjee held charge of the finance ministry.
Jaitley said fiscal discipline was breached because of the schemes that were launched in 2007-2008 to bolster Congress's preparations for the 2009 polls: a not-so-subtle allusion to the farm loan waiver announced during P Chidambaram's previous stint in the finance ministry.
"Electoral expenditure was undertaken. As a result of which, from 2.5%, you have gone (in terms of fiscal deficit) to 6%. Your revenue deficit went up. And you merely say that the periods of 2009 and 2011 were responsible because those in-charge at the time are not here to defend themselves," the BJP leader said.
rahul singh
Although fall in rupee was expected but not such a steep one. Maybe it has to do something with bringing back black money since elections are coming near.
Foreign tourists bring $$ This industry is a massive employer across multiple
salary ranges. India has recently tripled the cost of a tourist visa in UK to £120. EU
has also increased air taxes making a trip to India £750 before leaving UK.
Casual tourists looking for value will not choose India, as visa takes
10 working days, and many seeking an overseas holiday use the net for late
bargains, excluding India.
The visa service has been outsourced, and huge fees are charged.
The old system took one day at the consulate, afternoon collection.
If India wants tourists, don't gouge them before
they leave home, or they won't come.
As far as positive measures are concerned I trust IMF more than Indian government. It is because of IMF that we are forced to do the liberalization of 1991. And nobody cares about this central Asian pipeline.
Rupee lost its value to this extent only because of irresponsible
persons in responsible positions. Black money is the root cause for
all this deficit. Rich people(who are all in responsible positions)
stack money for their generation forgetting they are serving for their
country not for them. of course, all other means made rupee to its
lowest but incapability and irresponsibility of eminent persons made
the rupee value to down. Definitely, if Necessary actions are not
taken immediately, then the fate of the Indians will be worst more
than ever. until 1947, we had been slaves and now it emerges again.
Maybe its a little tough for laymen like me to understand all the
economy related terms and assess what exactly is the cause behind this
free fall of Rupee. But its not that simple that government just use
their magic wand and stop this slaughter. What lacking here is
government is failing to make the people understand that the policies
can only work up to a certain limit. The people of India should also
take active responsibility instead of blatantly accusing the
government. Just stop being accusing hypocrites for once and do your
part. Government should suggest what is required from the people to
help the country out of the situation (limiting the purchase of gold,
buying international goods being a few of the examples).