WHAT HAPPENS TO INDIA AND ITS ECONOMY?

WHAT HAPPENED TO INDIA AND ITS ECONOMY?

·        What happend to Indian economy suddenly? The Prime Minister, Finance Minister and Reserve Bank Governor telling that there would be no worry whatever the length the Rupee gets  down. They may have got no worry because they are experts in economy and enough money to live, but common man of the country is in distress and much worried. Is it a matter to take easy? We have been liberalising more to more foreign investors to attract FDIs. But of no use. No one has been turned to our side instead they are taking away their investments and recently many big industrialists including Indian born Laxmi Mittal and rich person like Buffet. 

·        Even in the recession and slowdown of American economy the Indian economy is not tumbled, but the situation now is reverse. The Rupee against Dollar is being pathetic day by day. Already it has been touched 63 Rupees and it is further down on Monday i.e:20th august 2013.

·        The Prime Minister, Finance Minister and planning commission vice chairman all are world class economists and they can predict any economical crisis before it comes.Besides them newly appointed RBI governor Rajan who is said to be very shrewd in predicting crisis and who predicted the global recession but now he is also not telling any ideas to get out.  And also Rangarajan who also worked as RBI Governor is constantly keeping a watch on Indian economy.  But it has been collapsing .  Where the wrong has been done? All the above economists did not sleep till the implementation of Vijay kelkar committee recommendations. Cooking gas price and other fuel prices to make up the subsidy loss.

       Day before yesterday there was big market crash and investors have lost not less than two lakh cores of rupees. We called it as black Friday. Again on Monday there was a little crash. Even Then our economists say that there was no danger. But the economist Kaushik who works as Chief advisor to world bank  has cautioned that the coming 18 months are crucial for India.

·        Prime Minister has assured the people during the release of fourth volume of Reserve Bank history that there would be no situation like 1991 as of now and it would not be repeated as the country has foreign reserves which will be enough for six and seven months.

·        As our economists used to say that India was going to be a strongest economic country in the world by 2025 or 2030. But it doesn't appear like that now. Everybody fears of 1991 situation. Already there was a big unemployment and all soft ware companies are stopped to recruit from the last two to three years. If the economy of India weakens like this the fate of youth will become a hell.

·        The UPA-2 is full of big scams like 2G and coal gate. Though the Prime Minister Manmohan Singh is honest but nobody accept if the coal-gate scam was taken place when the ministry was under him. If it not be the Manmohan Singh CBI would have arrested the coal Minister.

·        If we put the all scams set aside, what is the wrong with the Indain economic policy. When will be the economy of India recovers and investments pour into the Indian market? When the FDI are liberally allowed all expect investments pour in but nothing happened. We are liberalizing them day by day; even then nobody comes to India. I hope the foreign investors do not believe in Indian leaders and their policies. As the period of the Government ends in a few months they may not hope the UPA Government will come again. If the BJP lead Government comes they may change the economy polices some of them what will have now.

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