One wonders why ministers prefer to react to all important economic developments these days. It is because last year Sonia Gandhi has slapped Chidu for sudden rise in inflation and that Chidu disperately wants to avoid a repeat of it!
RE:TN Ministers are a shameful lot
by Raman Iyengar on May 27, 2008 02:02 PM Permalink
There is nothing like Tamilian. I am ashamed as Indian, who has got freedom but does not deserve it. It is the congress and its leaders who has to take the blame. Do not talk of one individual. Each and every, Panchayat Member, Councillors of Municpal Councils, MLA, MPs, all government staff has different set of rules agenda than a common man. There is no uniform law in the country. It is different for moneyed and down trodden. No accountability at any place. Everyone is greedy and selfish. God save the country and its people.
If the govt over-reacted, I am happy it did! Inflation of 7-8 % is high enough for the common man.. But the cascading effect of this inflation by banks and other monetary organisations make the real effects of inflation to go about 4 percentage points higher than indicated..
The govt. reacted in the best possible way. It should have acted before a stimulus was needed, for it to react..
RE:Over react!??
by Sreekanth Nemani on May 27, 2008 02:36 PM Permalink
Actually, food prices have gone up by 20-30%. So, if you are actually looking at things relevant to common man, then that is a true index.
And how can you say what is important and what is not? Everything has an indirect effect! (and don't worry things like IPL are not considered)...
when the things have gone beyond their control in controlling the inflation and not worried about the price hike but just worried at the inflation figures, really shameful about the fm.
Inflation Rate @ 7.82% is a manipulated figure.some arithmetic jugglery and incorrect data collection is showing inflation at 7.82% whereas in reality it is more than 10-11%.We need not be a shrewd economist to understand the basics. Food prices have gone up by 25-35 % and average increase in non-food items is about 20% . How can inflation increases at 7.82% ? Mr MC and Mr MMS are fooling the entire population of this nation.death knell of this govt is being heard in elections after elections.Sooner this govt is thrown out of power,better for the nation.Today, it os Mrs Maino and left parties are,without having any answerability and accountability to the people of this nation,are ruling the country and our prime Minister's position is reduced to that of a boot-licker.Fractured mandate in 2004 general election is the root-cause of this problem.Mr MMS's theoritical Economics is outdated and irrelevant in today's situation.dEdyC
Thanks to Chiddu & Mansonia Singh, for making Indians to spend more, meaning we have acheived what other regimes have not done so far, our spending power has been enhanced by this govt, now with petrol price getting costlier by rs 17, you shall definetly enjoy Royal ride on your scooty,or Bike. good readers expect some more costly sops by these two so called great ECONOMIST OF INDIA, By the Bye, how much grain do we import , every year, I think it is not even 2 percent of our demostic production, but how come the prices have shot up by 75-100 percent ?? can Chiddu explain this fact ???
In a move to control inflation the congress government announced a series of measures to control the price of steel . It reduced customs duty and also removed countervailing duty on "Tor Steel". This move results into substantial savings for "Builders", who may have lobbied for the same. This move has put local manufacturer's into serious disadvantage. CAN THE GOVERNMENT NOT INITIATE SIMILAR ACTION IN THE CASE OF PETROL / DIESEL instead of raising a hue and cry about it all. It is very apparent that Congress Media Managers want to grab media eyeballs , show that their government is favouring the Indian public and get necessary sympathy, when factually ,government is laughing its way to the bank on account of increased tax collections on increased basic prices of all petroleum products. Murli Deora / Chidambaram / Manmohan / Sonia = TAKE A WALK , literally.
