Under the sham expert leadership of ManMohan and his cronies Montek and Chidambaram, the UPA government (read Congress mainly) played havoc with Indian economy and law and order situation.
Despite my trying hard to find significant contribution to Indian society and Indian economy I could not find much for congress led government.
On the other hand the Indian economy seems to have been completely screwed up by idiotic policies and turning of blind eye by top decision makers of country towards loot and plunder and shameless and naked dance of capitalist greed,profiteering and price rise all round.
Is that called liberalisation? Certainly not.Liberalisation means removing state interference and controls on business.Productivi
More than 40 lac crores of wealth or almost 60 % of Indian GDP was siphoned off by corrupt bureaucrats,
By removing so much money from Indian economy by shameless loot and plunder creating false euphoria the economy and cash availability in system had to go down.This money has found way out side the country.
The stock market scam is largest ever in India and much more than Harshad and Dalal.
In other words Manmohan government looked away while loot and plunder was going on in country by generating sham euphoria and feel good of liberalisation like India shining of NDA.If CPI/CPM were not there ,this siphoning off would have been much larger.Although left parties are equally corrupt but at least to show to vote banks they did put some stoppers.
We should seriously consider the reality and stop being brainwashed by fraudulent development and liberalisation slogans in media and advertsiement on TV by various parties to fool people.
Indian is in worst shape now then started in 2004.
Property prices went up to 400% to 500% of 2001 January prices.No one bothered to stop this.
Stock markets went crazy by rigging but we looked away causing huge losses to common investors directly and through loss of money of Mutual Funds ( means common men).
The price rise of medicines,food items, groceries and clothing increased several fold so also of steel and other raw materials.
Forwards were allowed brainlessly in India causing commodity price rise to dizzy heights.
This present government of ManMohan is now releasing figures of 0.7 % inflation rate as election date is coming near.Many other such window dressing can be seen.
We never knew how such figures are calculated.
The fact remains that Atta, garments and toiletry all are going up.fares have gone up and continue to do so.there is no significant fall in land rates anywhere.Consumer price index is increased by almost 10 by government figures alone.labor is not paid in Rojgaar gaurantee Yojana for work.
All claims of UPA government are false and fraudulent.
A digene (antacid tablet that was costing just Rs 2.80 in 2001 is costing Rs 10 .So is with all oter medicines.What happened suddenly? was Phrama sector running inlosses earlier?
Can anyone explain what happened suddenly under Man Mohan regime? Did people start taking more medicines or suddenly population growth went crazy or there was widespread natural catastrophe limiting availability of commodities.
The government recklessly started taxing in name of new found tax -service tax multiplying cost of business and consumer services.
Governments failed to release land bank in market at low rates to arrest property rates and rounding up real estate mafia.High real estate rates out of proportion of per capita income can play havoc with economy.They have.Only few lac orgnaised sector seni0r employess and governemtn babudom and politicians have benfitted skewing the economy distortion further.
Foreigners and NRIs were allowed brainlessly to invest in Indian property without monitoring price rise in various sectors.
Ministers everywhere bought new foreign car models,bought helicopters and planes and indulged in naked enjoyment of luxury at public cost. All this started in name of Liberalisation.
Truly Indian babudom and politicians got liberalised.
There is no demand recession as corrupt and boneless politicians and media makes out.There is huge demand.It is just that people are left with no money and prices are beyond their reach.Eduaction price has been allowed to be hiked to 5-20 times by stating availability of loans as if it is charity and not cost to student.
Hotel menu rates shot up from Rs 125 per dish of a curry to 480-600 Rs.Even old properties owning hotels hiked tariffs of rooms by 300 to 500%.
Is there any economic justification? None.
Simply Indian currency system and growth was ballooned artificially depreciating indian rupee sharply by 300 % at least.
Surpring rupee appreciated externally and finally falling flat a few months ago back to its real aukaat.
That is all.
Crime rates were not controlled. Surprisingly Union government alone having budget of Rs 5 lac crores did not bother to spend just 800 crores to expand judiciarty to control quality and speed of justice (or shall we say miscarriage of justice?)Why? any one can guess.In nedw congress manifesto also there is no such commitment.So be ready for next 5 years of more crimes and third rate judicial system to continue.
In India free for all is going on in name of fraudulent globalisation, liberalisation and development.
Trend continues.Lies and superficial claims continue while common man is impoverished and is being robbed of even basic things.The corrupt media is also turning blind eye and singing praise of fraudulent experts like ManMohan and Montek.
Indian politicians and businessmen never had so good time in Indian civilisation history.
People should now decide what to do with such parties and such dummy and corrupt politicians and babudom.People should sprad message around them and vote by candidate and not party.
People should boycott property market till they come to their real levels.
Despite increase of VIth pay commission salaries, corruption rates are going up and working time is reduced.Judiciary is totally unproductive and fraudulently functioning without any tinge of shame and regret.
That is what India has achieved in last 5 years. It is like smearing salt on wounds by arguing that NDA was also ineffective and corrupt.What a logic.So next governemtn will contuinue same mismanagement? The future is thus clear before us.It is frightening.
Time to throw present people in power into dust bin and hold them accountable for national treason and criminal negligence.
Indian people must come out of stupor and euphoria of development and superficial growth of only 4 % guys.
Even Obama has given call for reducing costs and expenditure in USA.But india politcians and corporate are lavishly overspending and refuse to take reforms measures even now.The directors and CEOs of privet sector are paying themselves rs 5-10 lac per mo nth wheras common man earns Rs 80 per day.What a model of development.
Prof R K Gupta
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