Another disaster in making in form of clearing of food security bill by UPA. Now on top of NAREGA largess which anyway is being siphoned more than 50 % ,waiving of 60000 crore of farm loans,this 1 lac crore of gift is a desperate attempt by a bribe taking govt to give bribe & remain elected.
Sometimes I think that how could we select these UPA people.We need to teach immly our Muslim,SC,OBC brethren about the daylight robbery being done in their name by Congress.So UPA will remain in power in times to come as well.The latest election survey in UP indicate the if Congress n SP join hand they will easily form the Govt.BJP is a distant 4th.

Nicely summed up. The least we can do after this is be a bit more frustrated!! We have failed to act in the future...may be before the elections we will have a raise of income tax slabs, a few more minority 'helping' hand!!

Originally posted by manishdave Govt. should give Rs. 25,000 to every citizen over 18(whoever can vote) per month to ensure everybody has food, nice home, a TV, a car etc. Then plant trees where money grows. We all can sit back watch TV and become happiest country in the world. Socialism so far was not enough. Then we got NREGA which was not enough either. So we will have FSB which I doubt will be enough. So lets invent a tree where money grows and then throw money from helocopter.

I was looking at govt budget data. 20% goes towards interest payments. We spend 10% of GDP on subsidies which are effective only by 10%...I am not misquoting here.
And we manage to spend less than 3% of GDP on education.

May be the only way out is to let inflation go even higher, which I am confident as Mr. Montek is confident of controlling it, like Ben Bernanke he has been consistently wrong.

The damage with inflation more than 10% is ridiculously high.

I disagree with Basantji on RBI hiking interest rate. Infact I am furious at RBI for doing too slowly and causing long term damage. Had they been more aggressive the pain would have been short lived. Its the job of RBI to protect the saving of savers. There is a moral hazard here otherwise. The blame is squarely on the govt. for spending instead of investing.

Other day I was reading about effectiveness of NREGA. I says the agricultural productivity would have been higher and sustainable had the money spent on NREGA be used to build irrigation projects. Big irrigation projects were not required smaller ones like check dams. They are the assets which keep on giving.