Indian inflation to be revised to 10% but in reality common people face inflation well above 30% - the dark tale of ruining Indian economy
Rita Nair
May 26, 2008

According to respected publication The Economist , "Delays in data collection in India can mean big revisions to inflation... The latest wholesale price rate inflation rate might therefore be pushed up to 9-10 per cent,"

If you talk to common people in India, you hear the real story – the inflation rate is at more than 30% and the Government is lying totally.

A young IT professional in Bangalore, put it the best way. An Olympic level 100-meter sprint in lying is taking place between Sonia-Manmohan and Bush-Cheney. Indian inflation rate much higher that 7.82 per cent as depicted by the falsifying Government.

The rising international crude oil and food prices will take Indian hyperinflation to 50% per cent level. Government will fall – it is just a matter of time.

India tried to move away from free market economy by putting a ban on futures trading in agricultural commodities. In the short run such measures may help cap inflation and avoid social unrest, but in the long run they do more harm than good. Preventing rising prices reduces the incentive for farmers to increase supply and for consumers to curb demand thus prolonging the very imbalance that has stoked prices.

It is a dark tale of ruining Indian economy. Some incompetent theoretical economists took India from prosperity to hopelessness. It is mind boggling how Manmohan Singh and Chidambaram failed as economic leaders with their PhDs in economics and finance from world’s leading institutions like Cambridge and Harvard. It shows how these schools generate graduates that lose their common sense in pursuit of classical economic theories.

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