Fancy names for robbery.

The most revered Dear Leaders of India have been banging on about how central banks of other countries have stopped concentrating solely on monetary policy to control inflation and have taken on responsibility to stimulate growth and increase employment. They have the US Federal Reserve and the European Union in mind where interest rates are close to zero. They want the Reserve Bank to lower interest rates which, in their opinion, will encourage borrowing for the buying of properties and cars and thus stimulate growth in the economy. This is not only false but a cowardly denial of responsibility. The RBI does not formulate policy nor does it waste vast quantities of public money in dishonest social schemes to bribe the " vote bank " to win elections. Politicians do. The NREGA scheme, which pays Rs 215 to the rural poor for 100 days a year for fictitious work, forgiving all loans to farmers and increasing salaries of useless civil servants by 80% was used to win elections in 2009. For the elections in 2014 the Congress has already started the Backward Areas scheme at a cost of Rs 750 billion, the Food Security Bill at a cost of Rs 2.5 trillion was passed by ordinance and is now being debated in parliament and now the Congress has announced a new wheeze to rob taxpayer money. It has the very dubious moniker of National Skill Certification and Monetary Reward Scheme. HT, 17 August. The length of the name is probably to give it some sort of respectability and hide the intention behind it. But it is a good old fashioned subsidy designed to bribe young people who have been ditching the Congress in droves. It promises to pay a reward to anyone who undergoes a training program for 30 days or more. For training in manufacturing courses the reward will be Rs 10,000 to Rs 15,000. For shop floor job training it will range from Rs 1,000 to Rs 1,500 and for other courses it will be Rs 7,500 to Rs 10,000. " It is a sort of subsidy for people who are able to get proper skills," said Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission. The cost Rs 10 billion. " I want to assure that there will be no shortage of funds if more youth gets skills for employment in the industry," said the Finance Minister. This is the man who promises to reduce fiscal deficit. Pray what skills can you learn in 30 days. Why not give tax relief to industries who give job training? But then the money cannot be robbed.