Are the bandits falling out?

Our most revered Finance Minister is not happy. The rupee is falling like a stone. Inflation, already near 10%, will soar. The stock market dives down like a swallow and then jerks upwards as though pulled up by its hair by the LIC. Credit rating agencies are maintaining the BBB- rating for now which means that their jaundiced eyes are fixed on India. Even the pet journalists on the most servile newspapers are beginning to criticise. It was not meant to be like that. He was the Finance Minister during the first term of the Congress led government which distributed money like confetti. That enabled the second term in 2009. The Congress should have been coasting towards another victory in 2014 in 12 luxury helicopters from Augusta-Westland, instead it is being blamed for the collapse of the economy. The country does not matter but the chief will blame him if the Congress is wiped out next year. So, being a good lawyer that he is, he has begun to muddy the waters. " There are not just external factors, there are also domestic factors," he said." One of the domestic factors is that we allowed fiscal deficit to be breached and we allowed current account deficit to swell because of certain decisions we took during the period 2009 to 2011." ET, 28 August. Not so. You did the damage by wasting vast sums of money with the NREGA program, by forgiving all loans taken by farmers and by increasing salaries of useless civil servants by 80%, instead of spending money on building infrastructure. In 2007 the rupee was 39.33 to the dollar, oil $64 a barrel and inflation was at 4.74%. That was the time when the interest rate should have been raised to bring inflation down to 2% and stop the property price bubble from expanding, buy dollars to bring down the rupee to 45 to the dollar and build up large foreign exchange reserves and adjust taxes to equalise the prices of diesel and petrol. Instead trillions of rupees were looted in the 2G scam, the CWG scam, the coal mines allocation scam and others. Former Telecom Minister, Arun Shourie said," I personally took all the relevant papers and showed them to the PM in the Rajya Sabha gallery after journalists working to unearth the scam sought my opinion." HT, 27 August.
Taking orders from a foreigner to ruin the country is shameful. No point blaming others.