GDP back at 5%, dalmiya back in BCCI, Murthy back in infosys, Nawaz back in pakistan , madhuri back in bollywood & sanjay back to jail
yeah, the clock seems to have moved back, this is what the 90's scenario was while the latter part of the meme cannot be blamed upon manmohans economic policies but the first part is a definitely a black spot on mr. economists policies, since the economy is in dooldrums with the rupee plunging to new low's & forex reserves in serious state of vulnerability our economy is in severe crisis.
In 90's when nation was confronted with similar crisis, narsimha rao took remedial step by appointing professional economist manmohan singh as finance minister
Rao is no longer around congress seems hellbent on obliterating his memory, singh has become PM albeit a nominated one. Ironically what he managed to achieve in Rao's stewardship has failed to achieve fraction of that success under the aegis of his boss Sonia gandhi, for which he is been criticised by international community too remember the TIME magazine carrying cover story of manmohans policy failure & terming him UNDERACHIEVER.
This economic mess is largely of UPA's own making, they could not even retain 8% GDP rate inherited by ATAL bihari vajpayees govt in 2004, i would like to quote some facts here, rupee was 45 to a dollar in 2004 this week touched 60 to a dollar trade deficit has reached a staggering 5.1% of the GDP largely to be blamed upon the wrong headedness on the export front.
UPA's lame foreign trade policies has earned this nation a huge misfortune while Salman khurshid( Foreign affairs minister) being unable to negotiate clauses in FTA (foreign trade agreement) with Europe & making it difficult for indian IT services & other major bussinesses to enter scandavanian markets & thus depriving india of huge earning capabilities on the contrary European firms enjoy royal perks in indian markets with most of european auto majors ( BMW, MERCEDES, VOLKS WAGON) earning billions on indian soil.
On the currency front UPA's mismanagement & neglect of economy has triggered steep decline in rupee value. Some economic experts argue rupee is set to decline even more & in future would rally down to about 65 to a dollar which would even worsen the situation & this fall out would fix the "AAM ADMI" into a scary situation . Petrol, Diesel & vegetables et all will become costlier.
Despite the horryfying crisis india has landed into Government is busy fielding its policy wonks before media to deny the seriousness of the crisis
