Budget 2013: To prosperity or perdition?
The self-appointed protectors of the poor (who have made it clear in election after election that they don’t want their protection) should understand that instinctively, if they knew how market economies functioned (and accepted that non-market economies don’t function at all) instead of marinating in their confused Utopian longing for illusion. It is mind-bending that the most erudite, interesting, and civilised people in the Indian political space can be so irrevocably committed to such bankrupt ideas/ideologies, proven by experience to be false, and to keep pursuing the unpursuable in the ostensible interests of caring for the poor and the common man, while achieving precisely the opposite with their policies.
In this Budget, will the FM educate his political peers about the direct, strong connection between the current account deficit (CAD), which is out of control (because price subsidies are causing demand for energy to spiral and encouraging egregious waste), and the central fiscal deficit, which now is at the tipping point of going out of control as well? Will he use this Budget to
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