EconoMonitor

Burying India

Author: Anantha Nageswaran  ·   ·   › Share This Print

I have disagreed and continue to disagree with Surjit Bhalla on his monetary policy prescriptions for India. But, this piece of his in IE recently is a gem. It is a MUST-READ.

There are three big corruption scams in India; well, there are several, but these three are likely the biggest. And coincidentally, all three big-time scams have occurred under the watchful eye of India’s oldest political party, the Congress.

The real lie, and the real tragedy, is that state-administered, state-directed, in-the-name-of-the-poor programmes are the croniest of all. Not surprising, because the best way to sell corruption is if it is disguised with a human face. This administration, this government, and the ruling party, yes the Congress, have been involved in spreading the anti-market lie disguised as gospel.

He echoes clearly what Mr. Sharad Pawar had said in his ‘Idea Exchange’ Interview with ‘Indian Express’.

Sharad Pawar: The Food Security Act is being prepared. The BPL debate is underway and the final decision will be taken by the Planning Commission. According to me, the government is taking on a massive burden. My estimate after handling the ministry for seven years is that the food subsidy will be around Rs 1.15-1.20 lakh crore and this will affect the overall economy. I am worried that the subsidy will almost be the same for fuel, around Rs 80,000 crore for fertilisers, and NREGA is another Rs 40,000 crore. If so much is spent on subsidies, what is left for development?

While a new thing is opposed in Bihar, that is not done by Modi. Modi always asks for things to be explained, to be evaluated for its benefits for society, for Gujarat, the country. So, I think his model is about going forward with eyes open. I am only speaking about development here. [The full interview here]

Tavleen Singh completes the trilogy with her column on the unceasing efforts of Mr. Jairam Ramesh in halting all development projects in India, in the name of protecting the environment.

In the spirit of ‘Breaking India’ written by Rajiv Malhotra on the work of Christian Missionaries operating in India with their conversion agenda, it is time for some one to chronicle the efforts of the Indian National Congress at burying India.

This post originally appeared at The Gold Standard and is reproduced with permission.

Filed under: Asia

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Thomas Grennes is a professor of economics at the North Carolina State University and a former visiting faculty member at the Stockholm School of Economics in Riga. His research has dealt with various aspects of international economics, including open economy macroeconomics, international finance, and international trade in agricultural products. Recent research topics have included macroeconomic aspects of the Great Moderation, offshore outsourcing, sovereign wealth funds, and the relationship between government debt and economic growth. Earlier work dealt with emerging market issues in the Baltic countries and Russia and trade and macro policies in Sub-Saharan Africa. Economic history topics include the Columbian Exchange of plants and animals, the effects on food markets of introducing mechanical refrigeration, and the integration of Tsarist Russia into the world grain market. When he is not involved in economics, he enjoys mountain hiking.

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