Economic Blunders of UPA Regime

by RK Misra

Some of us always knew and said this in various forums. But excessive focus of our finance minister on keeping stock markets high and intoxication of masses with imaginary wealth kept the lid tightly closed on the can of worms of economic mess which UPS government has led us into.

I am no economist and no businessman either, at least no more. But I can feel the state of despair and hopelessness among masses, educated elite and business community. We all are worried about our future, if we have one.

Recently I came across several articles by eminent economists, industrialists and opinion makers and it will be worthwhile for us to analyze the current situation and evaluate UPA’s performance.

This will be crucial as we head to the polls in the coming months . We hope you read these articles and give your view.

February 24, 2009 | Filed Under RK Misra 

Comments

7 Responses to “Economic Blunders of UPA Regime”

  1. Brijesh verma on February 24th, 2009 9:48 am

    Very true Mr. Misra I missed an appurtunity at press club Chandigarh to ask Dr.manmohan Singh few years back. I wanted to ask every time there is a scam when Indians stocks are high and now which kind of scam is going to come when index is at all time highest level. You will be surprised to know even my friends laughed at me and suggest me that this time everything is fine, so I had to withdraw.

  2. Suresh Gupta on February 27th, 2009 3:41 pm

    The aam aadmi does not understand financial language. For them it should be translated in to easy to understand language. Many blunders have happened, many are being uncovered, but aam aadmi has still not grasped the impact of these blunders. Let Friends of BJP explain it to aam aadmi.

  3. kiran on March 1st, 2009 12:35 pm

    While criticising the Government , we often forget the good deeds it is doing …

    THE UNITED PROGRESSIVE ALLIANCE GOVERNMENT CAME INTO BEING IN MAY,2004. SINCE THEN IT HAS SEVERAL ACHIEVEMENTS.

    1)National Rural Employment Guarantee Bill
    2) National Rural Health Mission
    3) Prarambhik Shiksha Kosh/ Sarva shiksha Abhiyan
    4) Domestic Violence Act, 2005
    5) National Tribal Policy
    6) National Environment Policy,
    7) Bharat Nirman
    8)National Urban Renewal Mission
    9) Right To Informantion Act
    10) Initiatives in Panchayati Raj
    11) Maintaining Communal Harmony
    12) Transformation of the RAILWAYS
    13) Indo- US Nuclear Deal
    14)Major Administrative Reforms
    15) National Project for Repair, Renovation and Restoration of Water Bodies
    16)Special Economic Zones
    17)Aam Aadmi Bima Yojna

  4. Parth on March 2nd, 2009 8:27 pm

    @Kiran,

    Almost all the programs you have mentioned above are basically previously existing schemes with new names, a lot of them were actually started by the NDA. And no one really knows how they are implemented and how the money is spent.

    The CAG slammed the government report on all these programs. Rest of these policies are mere hogwash and talk with no substance. Besides the fact that some are directionally flawed policies.

    As for the nuclear deal, it is a small issue blown out of proportion, the manner in which it was signed is a disgrace. It was initiated by NDA.

    Maintaining communal harmony? Yea right. Appeasing the minorities for votes to extent previously non witnessed. Pseudo secularism is a better word.

    Administrative reforms? FAIL!!

    All the ‘initiatives’ and ‘missions’ and ’schemes’
    are utter disappointments hardly ever implemented. Even a law like RTI is not implemented. RTI was passed with the support of NDA.

    Most their missions and initiatives are just that, initiatives and missions. They spend billions of our money to no avail.

    CAG reported in some cases that the UPA simply gave money to NGOs and had no knowledge of how it was spent.

    Transformation of the railways is the biggest scam spun in Indian history. Travelled in a train recently?

    SEZ? It is the most flawed policy in the universe. They shy away from crucial labour and economic reform and try to take shortcuts for FDI. It’s turned into a land sweepstakes.

    In the end, I guess the voters who these ’schemes’
    were meant to help will ultimately decide the fate of the UPA. So hold your breath.

    Since I have not seen any tangible change to myself or my surroundings, UPA = FAIL.

  5. White American Hindu Supporter on March 2nd, 2009 9:33 pm

    UPA = Underworld Politicians Association

  6. Rational Indian on March 22nd, 2009 2:25 pm

    Indian finance ministers do seem to worry more about stock markets than other indicators of the economy. This was true of the BJP and NDA too.

    And are you saying the downturn is all the responsibility of the UPA government?

    You might have come across analysis that said India has been well-managed during this global downturn? That regulators across the world have started studying the Indian model for some areas.

    Let us be balanced in our analysis, and not present one side of the story.

  7. Raghu on April 7th, 2009 3:09 am

    Swapan,
    I greatly appreciate your intellect. I saw on the Pioneer website an article by Malik about Mitrokin files. Superimpose the details available on google and it appears the following
    1. Whenever anybody from the Nehru/Gandhi rules India, we always go backward.
    2. When true Indians(even from the congress) rule without the interference from the nehru/gandhi dynasty, we do really good(remember Shastri, Narasimha Rao(he was the one who got us out of the idiotic communism/socialism…see how he was treated by the gandhis when he died), and of course Vajpayee).
    3. In 2004 when our current remote controlled PM took over, he has suddenly stopped performing. (we need to remember that he was one of the main architects of liberalization). All our wealth is disappearing..is it going to Russia????
    4. So this allows us to reasonably conclude that sonia is what she is (google Subramanya swamy on Sonia Gandhi and u will know what he says about her). I read that and shudders went down my back at imagining that our secrets are an open book. That knowledge completes my understanding and its policies full circle..I am not left with any doubt who is our real enemy.
    5. Why cant the BJP raise this. There are many intelligent people who can do this carefully. Now I can understand whay a few months ago suddenly one of the missile productions was stopped. Is it to give that contract to Russia???
    Somebody needs to expose this. I can probably guess who is controlling the media now.