Monday, March 12, 2012
Leeches are impossible to dislodge.
Recent state elections have put a ferret up Congress trouser legs. Congress partners Trinamul Congress won West Bengal. AIADMK won Tamil Nadu at the cost of Congress partners, the DMK. Opposition BJP won Goa annihilating Congress. It was a tie in Uttarakhand which the Congress was meant to win comfortably. Akali Dal plus BJP won Punjab easily even though all opinion polls were predicting a Congress victory because of anti incumbency. Then SP swept UP against all predictions of a hung assembly, with a Congress supported SP government the most likely outcome. Regional parties have scented blood and would like early general elections so as to increase their numbers in parliament with, maybe, one of their leaders becoming prime minister. For Congress fellows this is akin to death. The Congress has held power in Delhi for at least 55 of 64 years since independence and, like vampires, are addicted to sucking the life blood from the country. They will do anything to hang on to power until the last of this parliament come what may. We have to wait till the budget is announced but already newspapers are predicting that financial and business reforms will be cancelled. More money will be thrown on social schemes to attract the naked poor and provide opportunities for loot to local politicians and civil servants. This will raise fiscal deficit and inflation which will reduce demand. The Reserve Bank will be unable to reduce interest rates to help investment. The Food Security bill will add Rs 1 trillion, a universal healthcare bill will add another Rs 500 billion, a few hundred billions will have to be found to keep Mamata Banerjee happy, Air India needs a mere Rs 400 billion and no doubt there will be others who will sense a kill. A rise in price of petrol is imminent and, if oil prices rise further, diesel and domestic gas prices will also rise adding more to inflation. Fortunately for the Congress its main opposition, the BJP is divided with a bunch of geriatric no-hopers refusing to allow younger and more capable people from taking over. Nothing we can do except watch the unseemly squabble. Is ther any other country with such scum in power?
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