The pressure is rising on Chidambaram to resign – hyperinflation could have been avoided with prudent fiscal policies
Balaji Reddy
Jul. 5, 2008

Indian Finance Ministry has failed miserably from aspects. What is more bothersome is that the PM and the Finance Minister are both trained economists and finance gurus from well-respected universities of UK and America. Americans and Europeans in recent days have proved that they are the biggest clowns in the world of finance creating current global financial meltdown through unrestricted debt. The Federal Reserve Chairman Greenspan and Bernanke have also proved how inefficient they are. No wonder UK and US trained economists Manmohan and Chidambaram has brought Indian people extreme misery from hyperinflation.

Chidambarm says its global inflation. But his and his Government’s senseless policies of subsidizing petroleum products to one billion native Indians cause that global inflation in energy and food. He has cause problem not only for Indians but for the rest of the world.

That is exactly what happens when you follow the footsteps of failed US president George Bush. Manmohan Singh now plans to make sure he looks good in the G8 meeting when he meets George Bush in Japan.

Samajwadi Party today blamed Indian Finance Minister Chidambaram for hyperinflation that has wrecked the lives of common Indians. Harvard and Cambridge economics failed to provide anything for India. It is time for them to go back to Harvard and Cambridge.

The Left parties are planning to start agitations all over the country to oust Chidambaram from the Finance Ministry as soon as possible calling him ‘lacking commonsense of Finance’.

BJP and the NDA coalition all along said Chidambram like US Fed’s Bernanke is a theoretical economist who lacks knowledge of the practical economics and common sense. Chidambram should become a finance professor in Indian Institute of management (IIM) instead ruining Indian economy. Well, no IIM in sane mindset will take him in the faculty list after what he has done to Indian economy.

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