Fiddling while the economy burns

We’ve had some rather unnerving economic data out in the last few days. The Index of Industrial Production for March showed an unexpected contraction of 3.5%. The rupee has been steadily falling against the dollar and is on course for making new lows. Worse, the inflation numbers refuse to go down and food inflation is once again rampant. And what has the government been doing in the last few days? It has, of course, been busy celebrating Parliament’s 60th birthday. That’s reason for rejoicing and we should all be proud that India has been a democracy all these years, in spite of all the stresses and strains it has gone through.

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