Indian Economy in Mess: Thanks to Pranab-da!

Bangalore: “You don’t need the weatherman to know which way wind blow.” This phrase fits very well in context of the recent survey by rating agency Standard & Poor that primed the position for a downgrade of India’s rating. S&P weatherman surely knows which way the economic wind is blowing.

When the country is undergoing a panicking situation its only one person, Pranab Mukherjee, who still feels something will turn up as a miracle and it will unbelievably fix the economy. Indian economy has been grinding down for quite a while now and the deficiencies are rather piling up than decreasing. The government seems clueless how to get out of this soup and fix the broken economy.

The government is not very pleased with the report and Mukherjee is said to have rejected the report stating that the agencies ratings are understating the Indian politics. But there are rumors which say that the S&P report is nothing but a political hit job. It is seen as a conspiracy as the report has been prepared by Joydeep Mukherji, who is a BJP leader from Paschim Banga. The report is also said to have some comments regarding the flawed nature of relationship between Congress President Sonia Gandhi and Prime Minister, Manmohan Singh.

It cannot be denied that robust spending has been done on whackiest projects. Government’s failure to fix the deformities in the system was well accompanied by Pranab’s havoc fiscal numbers. Under Sonia Gandhi’s command lot of spending has been done on ill-conceived and under-funded schemes. This as a resulted ahs bloated deficits and added fuel to inflation.