Both man mohan and PC are incomepetent and psuedo experts.Merely working or studying in USA does not make one superior or more capable.They have misplaced notions of development and economics.Both of them are miserable failures.They jhave made copmmon man's life hell and living difficult with average price rise 15-20% per annum since last few years.open loot an dplunder is going on in economy.Huge taxes have been levied in various forms.propeety prices have sky rocketed besides prices of vegetables and commidities. The brainless and fraudulent expert that MM is,he fails to understand that India does not need schemes like SEZs.The earlier ones too are failures.Same way big retail chains, home grown or foreign are detrimental to property prices and also to small retailers across the country.It is going to cause a havoc in society in few years from now. Mr Manmohan and PC both should be removed immediately. Goverenment should focus imediately on arresting price rise of real estate and its roll back, reducing retail level infaltion to 4-5 % maximum,moderating taxes imposed on people and generate employment. The common man's life till then will turn for worse
RE:Economic reforms and Manmohan Singh
by Maximus Decimus Meridius on Feb 10, 2007 01:00 PM Permalink
What a load of bull this is. Just putting a Prof in front of your name doesnt make you an expert. Which brilliant university do you come from or work at? Do you even have a PhD? (I doubt, and if so, you are not supposed to use the title Prof without a PhD). Manmohan singh graduated from the London School of Economics and PC from Harvard, both #1 and #2 economic schools in the world. Manmohan Singh was the head of RBI as a bureaucrat before he joined politics. For your information PC reduced income taxes to max slab of 30% when he was the finance minister the first time. Before that it was ~40/50%. Average price increase of 15-20% per annum in the last few years? Are you high? Inflation in India hasn't crossed 5% in the last few years. In fact it's been at that level even when BJP were in power. SEZs are failures? Wow, sir, you are quite astute, I must say. China's economy runs only on SEZs and you, in all your wisdom have concluded that SEZs dont work. SEEPZ is an SEZ in Bombay, and it's been hugely successful even before economic reforms. What has failed is India's socialistic model. 50 years of socialism has been about making it hard for anyone to make money, so that economic disparities are minimized. Socialism in India was more about impoverishing the rich than enriching the poor. We took this cap off and see where Infy, TCS, Wipro, Tata have reached. And this is only the beginning...
India's tax levels are lower than they've ever been so dont make stuff up. Finally "Goverenment should focus imediately on arresting price rise of real estate and its roll back, reducing retail level infaltion to 4-5 % maximum,moderating taxes imposed on people and generate employment. ", you said. Inflation is 4-5%. Taxes are low-moderate, if you compare it to pre liberalization India. How can the government have low taxes and generate employment at the same time? Where does the capital to generate employment come from? If you run the economy on a deficit, doesnt your inflation go up, "professor"?
RE:RE:Economic reforms and Manmohan Singh
by amit singhvi on Feb 13, 2007 03:32 PM Permalink
Hi Maximus, I enkoyed your bashing :) It was good and impressed with your precise answer..
RE:Economic reforms and Manmohan Singh
by nickel biswas on Feb 12, 2007 12:21 AM Permalink
Do you know why there are price rises? Partly, it is because of the increased cost of oil, which is beyond the PMs control. But, it is also due to 2 other factors: 1) The high level of public debt in india. The banks have to put all their resources into financing the HUGE govt debt, instead of financing loans for the common man. This leads to higher interest rates for businesses, individuals and farmers; which is an extra cost that they pass on the the consumers. If you want to blame someone for this then blame the left front because they spend so much money on wastful programs like the job guarantee act, most of which goes into the pockets of politicians.
2) Lack of infrastructure. Economic growth, like the kind India is experiencing, will stimulate increased demand as people have more money to spend. But, if there is not a corresponding increase in supply to balance this demand, then the prices will naturally go up. If you want to blame someone for this then blame the left front; almost every attempt to build infrastructure and factories are met by protests by the left front.
