Sir,
This is with reference to the article “Economic reform policy” by Nantoo Banerjee, DE March 25.
I had been hoping that India would develop on all fronts under the leadership of an economist non-political Prime Minister who was not only highly educated, experienced but also having a reputation of being absolutely honest. But he has failed on all fronts.
In order to fulfill the ambition of ensuring continuity of the Congress regime at the Centre and retaining and attaining power in the States. UPA Govt has ruined everything necessary for development of a country on economic front.
Huge funds are earmarked for subsidising everything in the name of poverty allevation. Very very little funds are earmarked for real economic development. Corruption, pilferage and wastage of funds have not only prevented the economic development but also resulted in inflation, price rise and weakness of Indian currency. Congress led UPA Govt is using the money collected from taxes, in this election year on financial packages for winning 2014-elections, as if the money was from the earnings of Congress leaders.
I agree with the author of article under reference that Foreign Institutional Investors have taken up large companies through investment in their stocks. Presently, Indian economy is in the control of the FII, upto the extent of forty percent. UPA Govt has virtually invited the foreigners to buy the Indian economy on easy terms. We are losing economic independence.
Yours etc….
Autar Singh
Simbal Camp Teh. R.S. Pura
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