Why Manu and Chiddu should go …
“Unless the developed world puts together a well-regulated financial system and revives its financial institutions, the shadow of failure of the western world’s financial system will fall upon all developing countries,” Chidambaram said.
The economic crisis in the developed world had affected India with a flight of nearly $70 billion in capital last year. The various factors that strained the economy were appreciation of the dollar against the Indian rupee, mass return of Indian workers from west Asia, lower tourist arrivals and slowdown in exports. The fiscal deficit is expected to cross the 6%-mark while revenue deficit would be around 4% during 2008-09. (via ‘Economy to grow 7% in 2nd half of 2009’-India Business-Business-The Times of India).
Sometime back Chiddu came back saying that he wanted to end 5000 years of poverty! Supposedly India’s star finance minister, and a Government headed by an ex-RBI governor, says this!
And now this!!
Why will the developed world do anything that will benefit India! It is not their duty, their job – and they are not even capable.
It is your job, Manu and Chiddu! Get up and get going!