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Pranab Mukherjee has been left scrambling for solutions after rupee dropped to all-time low. (Reuters)

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FM TALKS ON AUSTERITY ON RUPEE DEPRECIATION by JAGDIP H VAISHNAV on 17 May 2012

HONOURABLE FINANCE MINISTER WAS WELL AWARE, EVEN BEIING CAUTIONED ABOUT RISING FISCAL, CURRENT ACCOUNT DEFICIT .STANGNANT EXPORT, INCREASING CRUDE OIL BILL ,FACTORS ARE ALSO PREVALENT SINCE QUIET A TIME. GOVT IS LATE IN ANNOUNCING AUSTERITY MEASURES,WHICH MAY REDUCE DEFICIT, HOWEVER SUBSIDIES, BAIL OUT PACKAGES EVEN NO VIABILITY, UNNECESSARY EXPENDITURE ETC SHALL HAVE TO BE LOOKED IN TO IF INDIA GROWTH STORY TO KEEP INTACT. CONCENTRATE ON RECOVERIES FROM NABBED CORRUPTS.STOP SALE OF GOVT OF GOVT PLOTS AT THROW AWAY PRICE WHEN DEFICIT EXISTS

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