Image Courtesy :www.newindianexpress.com
PB’s twisty take on the top five headlines of the day.
1. Fiscal deficit reaches nearly 43% of budgeted target in May
Every time we start spending more than we are earning is a sign of serious trouble.
SBI alone got refund of 12,000 crores. Jugglery of accounts may not affect common man directly but indirectly impact is massive because investors shy away and interest rates are being kept artificially low.
2. World Bank President’s opinion of the effect of Rajan and Brexit on Inida
A growth rate of 7.5% is pretty good by world standard and thus anybody outside India will call it India doing well, particularly when developed economies find it hard to grow faster than 2.5 – 3%. That is the nature of the beast, their economy is so large it simply can’t add up more than 2 to 3% per year. Reality is Indian economy is still stuck in the same kind of doldrums it was during the last years of Congress rule. The 7.5% growth is only due to revision of the ways of calculating the GDP. Rajan has done the right things first he stabilised the rupee ,next he tamed inflation ,next he targeted false growth figures of banks , a very organized way of work indeed.
3. Babulal Gaur, Madhya Pradesh Minister, Out. BJP Uses No-Over-75 Rule.
We must appreciate the discipline that is being injected into the discipline. Otherwise we will continue to have 86 year old idiots who can’t stand on their own but want to run the country.
4. Dhingra Commission seeks more time to give report on Vadra’s land deals
Nothing new, commissions have asked for extension of time. A report is a considered report based on facts n evidence, if more evidence is needed, extension is necessary in the interest of justice.
5. Another leader leaves BSP. Is Mayawati facing a full scale rebellion
Chaudhary, after his return to BSP, started feeling sidelined, which the loss in 2014 (Lok Sabha) reinforced. Just as he had feared, Mayawati did not give him any prominent post in the party. Attacking Mayawati, Chaudhary said that after the death of Kanshi Ram veteran leaders who had worked tirelessly for the party were not given their due importance.