Friday, October 21, 2011

Another example of criminal waste of taxpayer money. Seems that the government is determined to pour a further Rs 260 billion into Air India to pay its debts. This is a bankrupt company with poor management and too many overpaid corrupt workers with salaries and perks that Bill Gates would be proud to receive. Seems the the CEO gets club membership worth Rs 7 million. When fiscal deficit is set to be above 6%, inflation fixed stubbornly above 10% and the rupee is dropping like a stone what is the reason for this generosity? Perhaps because politicians are allowed to travel free with family, friends and other dubious companions by this state controlled airlines causing massive losses to the public. There are only 3 Public Sector Companies which provide valuable service to the people - the railways, the postal service and the State Bank of India. While the SBI is hugely profitable the other 2 are in desperate need for investment. The railways need money for laying more tracks, new more fuel efficient engines and new passenger friendly bogeys. The postal service is becoming irrelevant as private couriers eat into its business. Post offices should be allowed to sell stamp papers, which are controlled by lawyers at present giving them undeserved earnings, accept passport forms and renew driving licenses. This will greatly enhance earnings as well as offer great public convenience because post offices are easily accessible. Money can easily be found by allowing Air India and BSNL to fail and scrapping the Nazi inspired compulsory numbering of every citizen called Aadhar. Indian citizens have less power than in China. Criminals rule.

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