Nah it doesn’t really make sense here… India shouldn’t have a deficit at a time when the economy is booming (8% growth rate).

If they want to implement Keynesian style counter cyclical fiscal policies they should be cutting government spending not increasing it.

I am not a fan of keynesian economics but the bottom line is that this doesn’t really make any economic sense no matter how you look at it.

The bill by itself isn’t a very big deal so long as they keep liberalizing other parts of the economy. Unfortunately it seems in the past year or so econmic reform in India has stalled, this bill is a sign that the government is regressing back into their socialist ways.

I was being sarcastic. I thought everyone would get that. I do apologize for the lame assumption.

A pretty lame assumption. Both of my parents are officially Jain, and in reality (like many Jains) practice a syncretic blend of Jainism and Hinduism. Ever heard of Indian immigrants giving non-Indian names to their kids?

You either convert (atleast give yourself a nice hindu name on this blog) or stay out.

Would you actually be pompous and arrogant enough to suggest that Indian Christians (and there are quite a few of them) not post here unless they use a “Hindu name”? Sorry, rhetorical question.

Yes, they do. The Finance Minister is no fool either. Too bad they wield as much political power as the national cricket team.

Eric I think you are the answer to India’s woes.

Any slack-jawed twit who stayed awake through an econ course would be better than the current set of clowns. Provided that they were actually running the country and not a hapless figurehead like Dr. Singh.

That is it … the religion/ethnicity card has been played. end of debate. vurdlife, what a magnificent victory.

Eh you win some you lose some. Sometimes you shoot bunker busters, other times you shoot duds. Main to sirf insaan hu yaar!

That is it … the religion/ethnicity card has been played. end of debate. vurdlife, what a magnificent victory.

Eric, what u christian (assumption from the name) understand about us Hindoos. You either convert (atleast give yourself a nice hindu name on this blog) or stay out.

OK back to actually debating the point on it’s merits. I thought the whole Oxford angle was good enough and you didn’t have to pull out the Hindoo card.

I have a slight problem with the Euro-trash part but everything else was on the mark. Actually the other economic policy maker went to college on the other side of the pond. What does that make him.

Gee I don’t suppose they have an educated economist amongst the lot of them, those backward Hindoos.

Eric I think you are the answer to India’s woes.

I will dispatch you with the following:

what can you expect when the country is led by a moronic Eurotrash socialist

Prime Minister “Manomar” Singh is a moronic Eurotrash socialist? Despite a doctorate in economics from Oxford?

If you meant Sonia Gandhi, she’s not PM and hence is not the leader of the country.

If you actually knew a thing or two about India’s economy instead of reflexively spouting Keynesian talking points, you’d know that the pump is already very primed. The country’s government debts amount to over 80% of its GDP, and over half of the federal government’s revenues are now allocated to servicing its debt. Yet these imbeciles still keep running annual federal deficits totaling more than 4% of GDP in the name of financing their populist boondoggles. Economically, India is another Argentina in the making.

But seriously, what can you expect when the country is led by a moronic Eurotrash socialist; run by corrupt bureaucrats left over from the license-quota days; and supported by full-blown, unrepentant Communists?

Btw, if the Indian government really wanted to “create industry”, it would make its first priorities the building of half-decent transportation and electrical infrastructures, and the repealing of its socialist labor laws. But, surprise surprise, the government’s indifferent to the first objective and downright hostile to the second.