To win elections any which way.

One reason for the soaring Sensex is that a large portion of revenues of our large companies come from abroad and the fall in the value of the rupee increases their profits when repatriated from abroad. One measure is the Transnationality Index which shows how much of a company's revenues come from abroad. The Tata group leads in this but most of our largest companies earn more from abroad than from India. Now Kiran Mazumdar Shaw, Chief of Biocon Ltd has revealed that she is going to invest $200 million in setting up a plant in Malaysia. ET, 9 September. " If India had better infrastructure and more availability of power I may not have gone abroad," she said." We don't have enough power, we don't have enough water. So some of these projects where we need water and power, I will do it in Malaysia because that is where it is abundant." While the Congress is desperate to increase Foreign Direct Investment to attract precious foreign currency Indian businesses have invested, including bank guarantees issued to overseas units, $21 billion in the first 7 months of this year. In June Apollo Tyres agreed to pay $2.5 billion for US based Cooper Tire and Rubber Co, Chief of Cipla Ltd, Yusuf Hamied paid $460 million for Cipla Medpro of South Africa in July and the $40 billion Aditya Birla Group is to spend $1 billion to set up a chemical plant in the US. The reason is that the Congress has spent trillions of rupees on social schemes, in a cynical ploy to buy votes, instead of on infrastructure. Infrastructure takes years to build and the benefits may come when the Congress is not in power whereas giving alms to beggars is quick, creates instant gratitude and keeps them poor so that they remain vulnerable to bribes in the future. In the absence of power and roads companies diversified overseas and fiscal deficit ballooned bringing a threat of credit rating downgrade. In panic the Congress has cut capital expenditure further and increased taxes, further increasing inflation and reducing demand. The Airport Authority is clamping down on foreign trips by officers to cut expenses because travel numbers are down by 2.5%. Airlines are Rs 950 billion in debt and looking to cut jobs. TOI, 2 September. The Aviation Ministry is begging states to cut VAT, which ranges from 22 to 30%, on jet fuel. HT, 10 September. This is economic treason and we lose. The Congress does not care.