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Showing posts with the label fiscal ruin

The road to ruin

I had taken time off from blogging, half owing to preoccupation with my daughter’s marriage and half owing to the weariness of seeing all this unending demagoguery and vitriol on TV and print medium.  When I look back at my last post, I notice much water had flown under the bridge and plenty to catch up ever since. 2011 has been an eventful year.  We effectively saw the country being run not by the government but by NGOs , whether  Maoist , Gandhian or of other persuasions in between.  The Government was forced to place a Lokpal bill before parliament , sleep-walk into a Food security legislation and stop work in a nuclear plant nearing fruition much against its wishes by these NGOs.  The Lokpal and the Food security legislation could be a Frankenstein ( or if you prefer from Hindu mythology, Basmasura).   Both could blow away our  government finances  so much that fiscal consolidation as outlined in FRBM  will be a mere pie in the sky....