Wednesday, March 25, 2009

The UPA effect

A good analysis of the effect the Congress-UPA governance has had on India.

"Given the profligate spending of the United Progressive Alliance and its self-proclaimed galaxy of economic geniuses, India now sports perhaps the highest deficit of any country: about 13 per cent, a far cry from the 5 per cent that the UPA has been promising us all along.
Yet again, the Congress has successfully brought India back to the verge of the 'Nehruvian rate of growth' of 2-3 per cent, which is an economic crime against humanity, imposing abject poverty on 250 million people."

"This in the name of programmes for the 'common man': such as the NREGS (National Rural Employment Guarantee Scheme), the waiver of farm loans, and the windfall for bureaucrats.
Rs 70,000 crore (Rs 700 billion) for the NREGS, which, if we had truth-in-advertising, should be renamed 'National Employment Guarantee Scheme for Party Cadres', because 95 per cent of the funds ended up in their pockets

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