Sunday, July 01, 2012
Deficit Running High, Rhetoric Too
India's current account deficit is at a record high of 4.5%, not seen since the crisis period that prompted Narasimha Rao's economic reforms.
Meanwhile, India's steel minister is carping at Mittal for "India-bashing", after the latter complained that his projects in the country were being stalled. Note that all Congress partymen conflate/equate their party with the country itself - ie. to complain against the Congress govt misrule is called "India-bashing". Whoever said "patriotism is the last refuge of scoundrels" was referring to scoundrels like these, and not to those who rally to national defense. It's again reminiscent of "Indira is India and India is Indira", or Louis XIV's "L'etat, c'est moi."