As long as Sardar Patel lived, he did not forgive the fanatics who killed Mahatma Gandhi (as Home Minister he had banned the RSS for 17 months), but both the RSS and the BJP have found it expedient to forget that chapter of history.
The government’s initial concern was only about interest rates but, on that issue, Dr Urjit Patel was on a strong wicket — he had the support of the Monetary Policy Committee. Soon, the government realised that interest rate was not the only ‘hurdle to growth’; other fault lines had emerged
External events are impacting the Indian economy. The government is unwilling to alter or calibrate its positions on the projected growth rate, government expenditure, NPA resolution, and tax enforcement. The government seems to believe that it can tide over the crisis by further muddying the muddied waters!
The consequence is that the government revenue has become oil-dependent, government is loath to give up easy revenues, and there is mounting anger among the people as prices of petrol, diesel and LPG soar every day.
RBI had done no study or preparatory work; yet the Central Board of RBI hurriedly met on November 8, without an agenda and without a background note, and dutifully “recommended” that the notes may be declared no longer legal tender.
The reality is that a loan of Rs 47,268 is not sufficient to create a job. That amount may be enough to buy some tools or furniture or install an air conditioner or a refrigerator. It may be used as additional working capital. By no stretch of imagination will Rs 47,268 create an additional job.
The first year was promising and the second year too started well. The first major blunder was demonetisation on November 8, 2016. This was followed by other blunders — flawed and hurried implementation of GST and tax terrorism.
Mr Imran Khan has said that if India will take one step forward, he will be prepared to take two steps forward. That may simply be posturing on the eve of being sworn in as Prime Minister, but nothing will be lost if we take Mr Khan at his word and appeal to him to deliver on his words