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Columns » C.P. Chandrasekhar
The neoliberal trap
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BRENDAN MCDERMID/REUTERS Standard & Poor's has, in May, chosen to stay with its lowest-investment grade (BBB-) sovereign rating for India, with a negative outloook, Here, the building in New York of the rating agency, which had earlier this year been charged with fraud by the U.S. Department of Justice.

The spending cuts the Manmohan Singh government has imposed on itself are a consequence of its neoliberal approach, in which discredited international rating agencies appear to call the shots.

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The pinch of spend-cut has triggered protests everywhere.In India
concerted moves by trade unions leading to all-India strikes is
a good beginning in right direction.Central TUs should not
leave Adivasis to the mercy of gun-totting Maoists.
Posted on: Jun 10, 2013 at 23:16 IST
"There are only three ways before us [to cover the fiscal deficit] FDI, FII ,
ECB" -
We are not looking at the deficit caused due to bad policies. I
understand that the WTO does not allow us to impose quotas but we are free
to do so in Agriculture. We can save about 1 billion USD if we were
to start supporting oil seed producers in India. This is one
commodity group where the ripple effect in the economy is far-reaching
valued at more than USD 1 Billion. This in the form of agricultural
taxes and having a more functional rural markets.
from:  Arjun Reddy
Posted on: Jun 10, 2013 at 03:11 IST
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