Truth and nothing else - Rajendra Pratap Gupta

Worst for the economy is over – Senior Congress Minister – Fooling Indians to vote ???

On 28^th December 2008, I had written on this blog, that the GDP growth will be less than 6 % , I had also given the reasons as to why it would fall below 6 % for sure, when the government was firm that GDP growth would be 7.1 %. The fact is out now , and our GDP has grown as low as 5.3 % in the Q3, 2008.

We will have lacs of suicides from job losers ! Earlier it was the farmers , now it will corporate people and workers who will commit suicides or commit crimes or suffer a nervous break-down. Why are we sleeping now . We just have 45 days – Please check the congress score card on my blog , They are a bunch of inefficient & dishonest people ! Can we entrust them our nation ?

As per the latest data ,

· India had an external debt of $221.3 Bn at the end of June 2008, 20 % of it is the short term debt, this will be hurt badly due to weak rupee .

· NRI deposits declined by as much as 1.1 Bn USD at the end of June 2008 compared to end – March 08 level.

· India’s foreign exchange reserves declined by 62.35 Billion dollars to 249.53 Bn USD as on Feb 20, 2008 from 311.88 Billion as on April 4, 2008.

· Agriculture is reporting negative growth at -2.2 % in Q3 , 2008,

· Exports have plummeted and people in export oriented companies are being fired every minute

· Industrial production is at a record low

· Fiscal deficit is highest since independence

· Sensex is at a record low in the last 40 months , Investors have lost more than 2/3^rd of their investments

· Real estate sector is facing worst crisis ever

· GDP fell to 5.3 % in Q3 , 2008

· Rupee is weakest at about Rs.52 to a dollar

· Tax collections and revenue earners for government are dipping every day due to the above mentioned factors

Is what we call an economy of strong fundamentals ? When US , Europe and Japan sank into recession, immediately our growth story withered away, and we had been fooled to believe that India had strong fundamentals and we will not be affected . Is this not severe recession ?

At the top of all this , our learned writer of the book ‘India’s Century’ & also our Union trade and commerce Minister , Kamalnath had said just 3 days ago, that the ‘Worst time for the economy is over’. And just three days after the rupee is about 52 to the dollar and the sensex is on its 40 months low !! How clueless is our Union Minister ? Do we give such people to run our trade and commerce for the next five years ? If his words cannot last even a week , how come he writes a book on India’s century ?

We are into an unprecedented crisis , if we let congress win , I am sure that some of us will not even survive to vote !!

Here is the Congress Scorecard . This has the verbatim statements of what Congress wrote in its last manifesto and next to it is what it did for its promises .

Congress Scorecard 2004-2009

No.	Key Result areas	What Congress promised in the last Manifesto	What it did
1	Agriculture	Annual growth of less than 4-4.5 % is unacceptable	Agriculture Growth in Q3 2008-09 is Negative -2.2 %
2		Intensive agricultural development program will be started in 100 districts	???
3	Farmers insurance	Farm insurance schemes for both crops and cattle will be implemented	???
4	Employment	Accelerate employment Generation	More than 2 crores jobs lost till March 2009
5	Fiscal Policy	Committed to eliminating the revenue deficit of central govt. By 2009	In Feb 09, the revenue deficit reached at 11.4 % , highest ever since Independence
6	Growth	Growth of below 10 % in industry is simply unacceptable	Growth figures in Q3 2008-09 was around 5.3 %
7	Education	To spend 6 % of GDP and set up Education Development Finance Corporation	???
8	Khadi & Village Industries	to be modernised	???
9	Block level	Establish at least one industrial training institute in each development block of the country	???
10	Annual Rozgar report	To be released every 1st May	???
11	A great thrust on Exports of textiles , handicrafts , Gems & Jewelry , leather , software & engineering		Painful slowdown in all this sectors and the government is clueless on what to do ? Units are shutting down and much more than one crore people are expected to be out of Job by March end in these sectors
12	Farm labour	Ensure the fullest implementation of wage laws for farm labour	???
13	Landless	Congress to Redouble its efforts to distribute surplus productive land to the landless	???
14	Women	Congress pledges to press for the constitutional amendment to reserve one third of seats in Lok Sabhi and in Vidhan Sabha’s for Women	???
15	Healthcare	Congress will raise public spending on healthcare to at least 2-3 % of GDP	???
16	Reservation	Congress pledges to extend reservations for the economically deprived persons belonging to communities that are at present not entitled to such reservations	???
17	Weavers & artisans	New middle level technical institutions will be started in places where for example weavers and artisans are concentrated	???
18	Food scarce areas	Grain Banks in chronically food scarce areas will be started	???
19	Girl Child	Nutrition program for the girl child particularly will be expanded on a significant scale	???
20	Organised , Informal & Unorganised sector Urban Poor	Every initiative will must and will be taken to expand the proportion of employment in the organised sector, congress will ensure the well being and welfare of all workers in unorganized sector	Only job losses have been reported in the last few years in all these sectors and Congress has remained a silent spectator
21		Congress to establish a National Commission to examine problems facing enterprises operating in the unorganised sector	???
22		A national fund will be created	???
23		A single , simplified law will be enacted to set out the obligations of these enterprises to labour and for safety	???
24		Congress will create legal space in towns and cities for hawkers , vendors , food sellers etc......so that they are spared the risk of extortion , eviction, confiscation and harassment	???
25		Social housing schemes will be launched to meet the needs of the urban poor	???
26	Security of the nation	Congress will strengthen the intelligence network	Most gruesome 19 attacks . A records of 63 blasts in 35 days . Assam, Oct 30, 2008 – 63 people killed, Imphal , Oct 21, 2008 – 17 people killed , New Delhi, Sept 13 , 2008- 26 people killed, New Delhi, Sept 27, 2008 – Three people Killed , Ahmedabad , July 26, 2008 – 57 people killed after 20 bombs went off in two hours, Bangalore , July 25, 2008 – One person killed, Jaipur, May 13, 2008 – 68 people killed in serial bombings, Faizabad , November 23, 2007- 15 people killed in Court bombings, Hyderabad , August 25,2007- 42 people killed in two blasts, Samjhauta Express , Feb 19, 2007- 66 people killed , Malegaon , Sept 8, 2006- 40 people killed in two blasts, Mumbai , July 11, 2006 – 209 people killed in seven blasts on sub-urban trains – the lifeline of Mumbai , Varanasi , March 7, 2006- 21 people killed in three blasts including one at the temple and another at the crowded railway station, New Delhi, Oct 29, 2005- 61 people killed in three blasts on the eve of Diwali
27	Judiciary	Immediate measures will be taken to drastically cut delays in courts , particularly in the high court’s and in lower levels of judiciary	On Feb 6, 2009, the Supreme court said that , the Criminal justice system has collapsed .. A Bench comprising Justices B N Agrawal, G S Singhvi and Aftab Alam also said that the lower judiciary had decayed. "The courts of magistrate and munsif have ceased to be an option for the common man," the Bench said and compared the lower courts to ill-equipped and ill-staffed public health centres (PHCs) in rural areas
28	Manufacturing Sector	Congress will establish a National Manufacturing Competitiveness Council	???
29	Yearly report card – Jan Dastavejh	Every year on October 2nd , the congress pledges to present to the people of India a Jan Dastavejh on the progress of the implementation of the manifesto	???
		All Words	No Substance