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BJP is ruling India for 6 years now. But are you wondering why the present BJP government is still blaming the Congress/UPA rule for today's problems?
Most of the sufferings we're seeing today are in fact due to the bad UPA's policies. P.Chidambaram not only goofed up the
Most of the sufferings we're seeing today are in fact due to the bad UPA's policies. P.Chidambaram not only goofed up the
entire economy by his voodoo economics and accounting principles, but he also followed a scorched earth policy to make sure Modi is booby trapped, when they come to power in 2014. He knew the writing on the wall & did it.
Lets re-cap P.Chidambaram's voodoo/scorched earth
Lets re-cap P.Chidambaram's voodoo/scorched earth
economics from UPA2 era. This shows the extent of damage he has done to the nation:
1) He cleverly moved the fuel subsidy of 35000 Cr from Q4/2013-14 to next year.
2) He announced Food Security Bill budget of 115,000 Cr and said it will be rolled over to the next year.
1) He cleverly moved the fuel subsidy of 35000 Cr from Q4/2013-14 to next year.
2) He announced Food Security Bill budget of 115,000 Cr and said it will be rolled over to the next year.
3) He opened the Ghost of 7th Pay commission & left unlimited liability to new govt.
4) He preemptively announced 1-rank-1-Pension but made it prospective only from 01/04/2014.
5) He announced hike in MNREGA wages to 135 Rs but made no budget provision.
4) He preemptively announced 1-rank-1-Pension but made it prospective only from 01/04/2014.
5) He announced hike in MNREGA wages to 135 Rs but made no budget provision.
6) He left claims of Fertiliser subsidy of 4000 Cr unsettled with PSUs, as loan with 6% interest.
7) He milked Coal India & other PSUs to the tune of 20,000 Cr (to govt) & 3Bn (total) as interim dividend. He left them with 0 capex for expansion.
7) He milked Coal India & other PSUs to the tune of 20,000 Cr (to govt) & 3Bn (total) as interim dividend. He left them with 0 capex for expansion.
8) He made no provisions for #RTE in central budget. States were left to find money to reimburse pvt. schools for 25% quota.
9) He talked big, but GST couldn't take off bcos centre had no money to pay the 20,000 Cr demanded as bare minimum compensation by the states.
9) He talked big, but GST couldn't take off bcos centre had no money to pay the 20,000 Cr demanded as bare minimum compensation by the states.
10) LIC was made to fork out 5.6% stake in 42 loss making PSUs. Forced to invest 150 Bn in ONGC, 40,000 Cr in 2013 to buy dead PSUs.
11) Except NTPC & NMDC, all other divestment targets of UPA were achieved by making LIC buy >50% shares at premium
11) Except NTPC & NMDC, all other divestment targets of UPA were achieved by making LIC buy >50% shares at premium
12) An estimate of 50,000 Cr was spent on Aadhar while Chidambaram was backing NPR. It was a open turf-war with no clear vision on end game. Modi recovered this mess.
13) Chidambaram transferred end-use decision rights of 3.4 Lakh Cr from Centre to the states, leaving only
13) Chidambaram transferred end-use decision rights of 3.4 Lakh Cr from Centre to the states, leaving only
pittance to new govt for determining where to spend. It was a smart booby trapping of new govt to prevent them from doing anything productive.
14) UPA2 obfuscated costs of FSB in such manner that, it was totally unclear who was going to foot the bill. It promised the right to
14) UPA2 obfuscated costs of FSB in such manner that, it was totally unclear who was going to foot the bill. It promised the right to
food to citizens, but who pays? If implemented in spirit, it would cost 5% of all money supply in India then.
15)Oil subsidies were a white elephant. Complete voodoo economics.They were hidden on the books of PSUs on time. In FY14 only 20K was provisioned by Chidambaram,whereas
15)Oil subsidies were a white elephant. Complete voodoo economics.They were hidden on the books of PSUs on time. In FY14 only 20K was provisioned by Chidambaram,whereas
bonds were worth 1.44 lakh crore with interest of 70,000 crore due.Modi govt finally paid 2 lakh Cr to clear
16) MNREGA wages were already indexed for inflation & they were due to go up further with Development Commission report.But where was the provision for this Chidambaram?
16) MNREGA wages were already indexed for inflation & they were due to go up further with Development Commission report.But where was the provision for this Chidambaram?
17) Chidambaram era was famous for IT refunds never coming back. There were several thousand Crs overdue. But govt didnt have money to refund. Finally Modi Govt had to come in and clear all those dues. How can we forget this voodoo economics of PC?
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@threader_app compile
