Indian government has lost lacs of crores of rupees due to ill-motivated decisions taken by minister of Manmohan Singh’s cabinet and due to faulty actions of UPA government. If one takes into account of all CAG reports of last two three years and make a total of all losses caused by wrong policies of the government, loss caused due to fraudulent acts of Ministers, loss caused due to tax defaults and tax evasion, loss due to bad assets in banks, loss due to write off of bank loans, loss due to tax concessions given to business houses in the name of stimulus package during last three to five years, and unethical rise in black money and exodus of Indian money into foreign banks.
It will come to billion of billion rupees.
Now government has announced some austerity measures to curtail expenses. It is nothing but a drop in ocean.
Billions and billions of rupees have been lost or sacrificed to please a few thousand of business houses and now the corrupt government is pondering over saving a few lacs of rupees on foreign trips and conferences or a few crores of rupees by stopping employment. Pain of poor men will become more painful whereas a few lacs of rich and elite class families will continue to live lavishly.
India’s economic growth has been consistently falling from quarter to quarter, rupee is weakening, fiscal deficit is continuously increasing, inflation is going up and up, price rise is beyond control and so on. Current Financial data indicates that cloud of crisis is looming large on Indian economy. Crisis of economy is worse than that of 1991 when the then government led by learned Chandra Sekhar had to sell gold. Foreign currency reserve can postpone the crisis for a few months but cannot solve the crisis permanently.
Now the question is whether such petty savings earned on account by forcing austerity measures will be able to cope with the critical position of economy of the country.
The answer is simply NO.
There is proverb in Hindi "Gau Mar ke Juta Dan" ( donating shoes after killing cows). Corrupt ministers and politicians in general have caused unprecedented loss to the exchequer and have themselves become billionaire during last five to ten years. On the contrary pain of common men has reached and crosses the level of tolerance.
Government has advised all departments to stop fresh recruitment. It means problem of unemployment will be aggravated and crime will rise day by day.
Can government stop price rise or inflation or fiscal deficit by merely stopping foreign trip of ministers or by curtailing expenses on conferences or by reduction in oil subsidy?
No,
Of course such steps should have rather been the part of permanent policy, but these policies cannot cure the cancer of corruption and cannot mitigate the pain of common men already caused by faulty policies of Manmohan Singh during last two decades.
It is pity that bad policies which have resulted in alarming sickness of economy are still considered by veteran economists as best diagnosis to cure the sickness of economy. Government should at least learn lesson from leaders of sixties and seventies when government used to create job opportunities by adding more and more projects, more and more industries, by adding educational institutes, by helping farmers to increase agriculture output etc.
On the contrary present government always talks of disinvestment and running their current expenses by selling assets created by governments of sixties and seventies.
Policies of liberalization , privatization and globalization has simply and undoubtedly helped only a few lacs of elite class families who have become billionaire and who figure in list of top 500 richest families of the world.
Politicians invariably use to commit blunder and people of India always have to suffer the pain .It is bad luck for Indians and that in India ,politicians change the policies frequently to suit their whims and fancies but do not change their attitude and do not change their culture and intention. Common men are always punished for the fault of politicians.
Lastly even if it is assumed that policy of reformation and that of LPG may help in curing the disease of the country , I hope government failed to ensure that proper and adequate dose of anti-biotic medicines are injected into the blood of sick economy .
Obviously reputed economists like Manmohan Singh, Pranab Mukherjee , Montek Singh Ahuliwalia will do nothing but fuel to fire by their austerity steps taken at a time when common men is already frustrated with current government. Austerity steps announced by the government has now made it clear that the policies announced in 1991 in the name of reformations were not either properly executed or policies were not fit for Indian economy .
Now at least people of India will understand whether they committed a blinder by electing Congress Party to power and by giving unregulated power to person like Manmohan Singh and his cabinet.
The million dollar question is why the great economist failed to visualize the consequences of their so-called good policies ,why did they fail to achieve their goal , why did they failed to predict correct GDP growth, why did they fail to decouple the Indian economy from the pain of global recession and so on.
Will they accept their moral responsibility on growing economic sickness?
Are they not punishable for poor performance and for cheating the common men in the name of reformation?
Top business houses or ministers or corrupt officers will face no trouble even if their expenses are curtailed or reduced to zero. It is only common men who will suffer by so-called harsh measures undertaken by government in the name of curing the economy.
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