Everything they do is without any honor.

The Congress has vowed to crackdown on inflation and corruption. But why now? The Congress grabbed power in 2004 by promising free handouts on taxpayer money and even increased its seats in the parliament in 2009 by more bribery. Common sense told us that you cannot go on spending more than you earn, therefore fiscal deficit and inflation will rise while the rupee will plummet. Even as the Consumer Price Index was inching above double digits our most revered Finance Minister was forcing the Reserve Bank not to increase interest rates so as to somehow maintain growth rates. The motive was entirely dishonorable. High inflation reduces the effective debt of the government, low interest rates help it to borrow vast sums for more bribery and growth, even if hollow, increases tax collections and helps useless expenditure. Knowing that it will lose next year's general elections it is rolling over Rs 850 billion of debt to next year.  Artificially low rates encouraged companies to go on a borrowing binge. According to a report by Credit Suisse 3700 listed companies have a combined debt of Rs 24 trillion which is one quarter of the GDP. Rs 8 trillion of this debt was on the books of companies whose interest payments exceeded their operating profits. Scary. Naturally banks are sitting on gigantic Non Performing Assets. " 30 year assets were built with 10 year money and we were expecting repayment from the eighth year," said the Chairperson of State Bank of India, Arundhati Bhattacharya. This meant that when the growth rate dropped and inflation shot up, reducing demand, companies were suddenly faced with lower sales and revenues. By encouraging borrowing low interest rates resulted in a massive increase in property prices, resulting a humongous bubble. In turn, this increased black money to astronomical levels, fueling inflation. To cling on to power the Congress allowed its members and coalition partners to go on a rampage of corruption by reining in the CBI where its criminal friends were involved but bringing false accusations against opposition politicians. Having received a drubbing in 4 state elections and with general elections in 5 months it is talking about inflation and corruption. But this is not because of moral values or love for the country. It is an entirely dishonorable attempt to fool the people yet again. Perhaps this time even fools are not buying it.