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No understanding

Issue Date - 24/11/2011
B&E: Headline inflation has remained considerably high in the past three years. What would you attribute this to?

RS: I think inflation is the biggest worry for India at the moment. Corruption obviously is also a big challenge, but the way the Congress government has failed to curb the effects of inflation on the common man has left him angry and helpless. I believe that only the wrong economic policies and faulty economic planning of the government are to be blamed for this scenario.

B&E: What do you think are the factors behind this failure?

RS: A complete lack of understanding of the issue has left the government confused. It just canít decide what it should do next. Corruption is also a result of wrong economic policies and planning on behalf of the government.

B&E: So what according to you is the way forward for India?

RS: Firstly, if we just look at the economic policies & trends of the developed countries and accept them and look to adopt the same, it would be a big mistake. It has to be understood that India still has a huge number of people who survive on an income of below Rs.20-25 per day. There are also 20-30 crore people who enjoy a luxurious life. The rest cannot be left at the mercy of the market. That is the key. The PM was recently speaking about deregulating the prices of more commodities. I think he has no understanding of India.



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