5 Bigwigs Who Are Blamed For India's Economic Crisis

By siliconindia | Tuesday, 03 September 2013, 13:07 Hrs

4. Montek Singh Ahluwalia

Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, had made the grave mistake by offering the idea of public-private partnership that is backfiring the economy. As an obedient party man, Ahluwalia, always defend the government and try to curtain its shortcomings. But the government’s track record is becoming increasingly tainted and cannot be shielded for long.

5. Manmohan Singh

The Prime Minister of India has failed to provide leadership, are the words that Ratan Tata had to say for Manmohan Singh. His meek approach and inaction have made everyone in the economy restless. His inability to take effective decisions for the betterment of the domestic economy has come to the notice of experts and public. Also his unquestioning attitude towards decisions that actually damaged the economy will restrain economic growth for lot many years to come.

The Indian economy needs immediate attention and a failure to do that will shove India to a black-hole. Meaningless initiatives like abrupt tax changes, huge penalties on companies, poor macroeconomic management are not going to help revive the economy. The only way out is -the politicians taking the responsibility for the damage incurred by them.