Indian politicians can get away with anything.

Has he lost all respect? Having bullied the RBI into lowering interest rates 3 times this year, in spite of soaring inflation created by him, our most revered Finance Minister is finding out that he may have to " walk alone " after all. At a meeting with chiefs of public sector banks on 3 July he told them," Someone will have to take a bold move or things will not improve. But if banks lower rates, even if it is a token rate cut, it will send a strong message." This was as shameless an effort to protect black money in properties, at the cost of savers and pensioners, as you are likely to see.  Guess what? Even before yesterday's RBI policy statement the State Bank and Andhra Bank had raised rates. Then the new Governor of the RBI announced a tiny increase in interest rate of 25 basis points, although he sweetened the pill by cutting the Marginal Standing Facility rate by 75 basis points and the daily maintenance of the Cash Reserve Ratio from 99% to 95% to increase liquidity in banks. Why such disregard for the Finance Minister? He is the man who is solely responsible for the dire condition of the economy. He created fiscal and current account deficits and double digit inflation by starting the MNREGA scheme, increasing civil servant salaries by 80% and forgiving all loans of farmers to win the general elections of 2009. When the disaster became apparent he tried to cover his culpability by forcing the RBI to keep interest rates low in the hope that growth will somehow revive and he will be able to cover the deficits through increased tax collections. Of course, you cannot treat a machete wound with a band-aid. The economy crashed. So what is our revered Finance Minister doing to repair the damage he has caused? He has asked civil servants to reduce rip-roaring meetings in 5 star hotels by 10% and asked them not to buy new cars. What sacrifice, poor fellows! So to mitigate their sufferings he has allowed useless civil servants to seek treatment abroad, with one companion, for 2 months. Not only that, he has increased Dearness Allowance of 5 million Central Government employees and 3 million pensioners by 10%, backdated to 1 July. What a nice bonanza just before the festival season. Already the DA is 80% of salary. Very soon it will more than the salary. What fun. However, the greatest irony is that we are not even sure that he won his election last time because it is languishing in a court. How can they get away with it?