Quick notes: 180 IQ budget, Role model's role...

• Clever camouflage artiste: Chidambaram has screwed the next govt even before it takes over



• Chidu’s growth assumptions are built on sand: What is the basis on which P Chidambaram assumes a 13.4 percent nominal GDP growth in 2014-15?



• Bizarre growth forecast:  PC's GDP growth assumptions are, yes, bizarre!



• P Gopichand on his refusal to endorse Coke: "If their role models appear often on TV with these bottles, how can we blame children if they pester parents for buying those products? Besides health hazards, penetration of these products in rural areas also affects the income of poor families".



• Ruskin Bond to children: "Get out and play. Spend leisure time in parks and other outdoor spaces, not in malls or playing video games."



• Another Copenhagen wheel:  An electrified rear wheel that can retrofit onto almost any bike.

Tackling fiscal mess with 180 IQ

Bankrupting the nation so Kaangress can return to power

India's finance minister is finding it harder and harder to meet the government's budget promises and may sweep as much as $15 billion in subsidy costs into next year's accounts to ensure he hits fiscal targets ahead of national elections, ministry officials say.

By rolling over some costs, Chidambaram can tell voters in the run up to the elections, which must be held by May, that the government met its deficit target. But equally, he will be shackling the next government with costs that could blunt its ability to stimulate an economic recovery.

Meeting the target is important also to stave off the ire of ratings agencies as India's credit status sits just one notch above junk. A loss of its investment grade rating would probably increase the government's borrowing costs.

But Prime Minister Manmohan Singh has shied away from raising fuel prices for fear it could upset voters and cost his Congress party the elections.

A new law to provide cheap grains to millions of people has increased procurement and storage costs, inflating food subsidies by around 10 percent. "The budget will simply collapse, if we continue to provide subsidies on this scale," said a finance ministry official.

Subsidy spending has massively overshot budgeted estimates for the last three fiscal years forcing up the amount of cost that the government rolls over.

Reuters: India eyes $15 billion rollover of subsidy costs into next budget

Quick notes: Policy paralysis, 180 IQ not helping..

• India has lost confidence of the world: Ratan Tata
  "The government has "swayed" under the influence of vested interests in private sector and policies have been "changed, delayed and manipulated".



• Robbery is not right: Nitin Pai
  Because it violates (someone else’s) rights, the rights-based approach is universally immoral. The cost of providing an ever-growing list of entitlements is prohibitively large, and will severely undermine India’s future. 



• Blow to his 180 IQ:
  Rupee beats Chidambaram to touch 68 first. The FM has to wait another 20 days exactly to turn 68. 



• NaMo working on bringing Raj and Uddhav closer:
  Wish him luck. With a drubbing in Maharashtra, Kaangress should sink to its lowest ever Lok Sabha tally.



• Invading the Sacred: An Analysis of Hinduism Studies in America
  
  

UPA hard at work

Debt rises faster than reserves. Short-term debt rising even faster. UPA, the one-trick-pony, wants more hot money flows.

Business Standard: External debt rises to 20% of GDP

Business Standard: Current account deficit zooms

kps gill: chidambaram is trying to become a field marshal

http://www.tehelka.com/story_main43.asp?filename=Ne241009coverstory.asp

there is a reason that the ELM dislikes gill so much – he combines learning with action. this means he can do ELM’s job of writing better than they can, and also fight sundry terrorists. the ELM can manifestly not fight even a fruit-fly. hence it takes recourse to easy slogans like “genuine grievances’, ‘political process’, ‘packages’ etc.

notice how he deals with each conflict (Naxalism, Kashmir and Punjab) in separate terms. this is self-evident – the nature of each problem is different, hence the solution has to be different.

Nice swipe at that Manchurian Obama and his Nobel too.


This guy has intelligence ..........and true grit

Chidambaram Offers Indian Citizenship to Eelam Refugees

Now Kaangress wants to import the Eelam problem, by granting blanket citizenship to refugees from the Eelam war in Sri Lanka next door.

I guess Chidambaram's still smarting from his bare squeaker re-election, which was only possible due to "recount".

Kaangress always tries to give themselves a bailout by mortgaging the country's future.

india's fisc deficit highest in the world: thank you UPA "dream team"

http://www.rediff.com/money/2009/feb/20bcrisis-india-fiscal-deficit-to-be-highest.htm

the reason Chidambaram and Manmohan are called a dream team is that they do little else but dream. or wet dreams in their case; future generations will pay for this through their nose.

Philosophically speaking - deficit spending in India is not the paap-karm it is in the west. this is because the domestic savings rate, at mid thirties percent is high enough to sustain government overspending. the problem is what you get (or do not get) in return. no assets, no employement and income generation, no long term economic velocity - no nothing.

chidambaram ran a deficit simply to get 50k crores for recapitalising swiss banks

P.S - do not get me wrong guys. I think everyone including Indian government should balance their budget. but it makes me weep to see hard won indian savings been thrown away by these economic assassins