Better late than never

Finance Minister at it again. He intimidated RBI to cut rates by telling that 'RBI should understand their mandate in the broader sense'. What a irresponsible statement this has been from the Finance Minister of a country which is struggling to avoid a financial sunami of unimaginable proportions.

Please also read this....https://www.niticentral.com/2013/07/01/manmohan-singh-is-an-economic-disaster-in-charge-of-mounting-crisis-97761.html

Shamelessly the UPA government is trying to buy time until the elections by threatening ( almost) RBI to cut the rates. RBI is obliging so far. That is altogether another issue.

I was shocked to read that we continue to pay huge to our oil imports. Even though they oil commodity prices cooled off. An article in DNA says  http://www.dnaindia.com/money/1855943/report-5-years-after-peak-145-oil-india-pays-more-today Rupee has depreciated more than 51% than the time when oil was trading at 145 per barrel. That means we may more than what we were paying to oil few years back.

But strangely we attack gold. That is soft target and inspite of clearly knowing that people buy gold to hedge against killer inflation which caused by RBI and Government, these so called intelligents blaming people.  The opposition is not raising any issue over this gross mis management of economy which baffles me.

Better late than never. A life of few real estate agents is not important than a country. We have a raise interest rates by atleast 2 percentage and depreciate Rupee atleast upto 70 per dollar. Unless we do this, we all will go to dust.

If we dont do it on our own we will be forced to take these measures anyway.

Titbits:

2500 crores recovered in mumbai most probably belongs to some powerful person and it is anybody's guess we will never come to know who is behind this? This case will be closed in due course and we mango idiots will shamelessly live in this country......