Friday, May 31, 2013
Assurance without action
Assurance without action makes no meaning. Prime Minister Dr. Manmohan Singh has said that the inflation will come under greater control in coming months. When the UPA-II under him got back to power in 2009, PM had assured the nation that he would check price rise in the first hundred 100 days. But the result before us is that since he came back to power, disarray, disorder, chaos, economic mismanagement and corruption prevailed everywhere. The nation is passing through precarious economic situation under the world-renowned economist prime minister. Manmohan Singh govt.’s chief characteristic has been that during his regime, the rich have become richer and the poor have become poorer. Economic growth has fallen to a decade low of 5% in 2012-13 fiscal and is estimated to improve to 6.1-6.7% in the current year. The RBI is scheduled to announce its mid-quarter policy review on June 17.In its last review, the RBI had cut the key interest rates by 0.25%. While the wholesale price (WPI) based inflation fell to over three-year low of 4.89% in April, retail inflation was still high at 9.39% during the month.Despite demands from the industry to cut rates, the RBI has been moving cautiously to lower rates in view on inflationary pressure. The Congress Party, which has been ruling for the last nine years on the slogan of Aam Aadmi, is proving to be the worst enemy of the poor common people of the nation. Unchecked price rise has broken the back of the common people. The economy of the nation is the worst victim of UPA-II. On the one hand the price of all essential commodities, including food is going higher and higher and the Manmohan Singh government is carrying out corrupt practices on the other without any remorse. So, the Prime Minister's assurance that the inflation will come under greater control does not hold any water. Lok Sabha elections are scheduled to be held next year. Only a year is left with the Manmohan Singh-led UPA-II government to refurbish its badly bruised and disfigured image. The sorriest thing for the nation is that if the ruling combination of UPA is corrupt, inefficient and callous, the main opposition BJP-led NDA is shy, disunited without any plan, policy and programme. BJP-led NDA has failed to emerge before the nation as an alternative to this corrupt, inefficient, callous and directionless regime. The time is running out for the UPA very fast. PM must know that his personal unquestioned integrity and honesty are of no use for the people because of his inaction that has caused huge loss to the nation.