Sunday, May 20, 2012

Rupee Looking Droopee

The comical sight of hapless Congressmen begging ratings agencies for a better verdict on the govt's lackluster economic program should evoke laughter. Unfortunately, the joke is on the rest of the country. With the INR trading at ~55 to the US dollar, India is about to suffer an inflationary shock. Perhaps our "economic miracle man" Manmohan Singh can demonstrate his talents by calling up Indian Oil and scolding them for raising prices.

The economic reforms were the result of efforts by Narasimha Rao and the BJP. The Congress has managed to steal credit for the acts of others and has ridden their horse until it died from exhaustion. Now they're standing by the roadside looking forlorn and confused on what to do.

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