Indian Government holds the responsibility for country's current economic crisis
The rupee is spiraling down and overall sentiments towards Indian economy has turned negative. While everybody keep looking up to the Indian Govt. to take control of the situation, analysts rule out any immediate respite. Is this the end of road for India's shining economy? Who should be blamed for the current crisis? Could a timely intervention or a proper policy saved the day? Share your opinion.
"UPA policies are 100% responsible for the economic mess in
the country i.e. rupee's downfall, inflation, market crash
etc. Onion, one of the main ingredients of the food across
India, is costing Rs 80/kg. The petrol prices are nearing Rs
80/litre and a can of beer is also available at Rs 80. So, the
necessity, need and luxury all are priced at the same level.
In Hindi we have a saying, "Taka ser bhanji, taka ser khaja;
Andher nagari, chaupat raja." This is actually what is going
on (in the country). These are the policies of the Md. bin
Tughluq, that are being pursued by this government, where the
petrol, cooked food and beer can all are being sold at the
same price. You know it is like Queen Marie Antoinette who
during the revolution in France said that if there is no
bread, then go and eat cake."
Meenakshi Lekhi, National Spokesperson, BJP
"In my opinion the Indian government is NOT responsible for
either the fall in value or the perceived crisis. It has been
pushing for all reforms that analysts have asked for....FDI in
retail, pensions, removing FDI caps, Land acquisition,
Companies bill......but can't do much about the US economy
recovering, the dollar strengthening and the stock market
taking a fall."
Amir Ullah Khan, Economist and President, Glocal University