Mr. Chidambaram, Former FM,
This Nation would like to remind you few things if you have forgotten due to your sickness in Tihar, or head-weight of articulating skill, or to proof Congressmen that you are the ultimate intelligent person in Congress to lead the party.
It is in record that, in May 2013, 1 US$ was = 54 Rupees. By August 2013, 1 US$ = 68 Rupees. In just 2.5 months, Indian currency crashed 27% ! Do you remember Mr. PC?
RBI to Planning Commission of India knew, virtually India was in a serious financial crisis. You know better than anyone. So, you must have remembered Nation was under an Economist as the PM and you as a lawyer or economist, whatever….., but global rating agencies categorised India as a member of ‘Fragile Five’. Do you remember it?
It means India could collapse at any time. I’ll remind and refresh your memories as follows.
At that time, you the great FM, popularly called PC(of C Company fame) additionally borrowed US$ 400 billions exclusively from NRIs at an exorbitant interest rate(no tax on interest benefits) and postponed(not solved) the inevitable crisis by 3 years. Do you remember it? You can’t forget it Mr. PC! Yes, you remember it, as because of that you are in Tihar, under trial and in bail.
Then what happened is more important. NRIs borrowed money from there and invested here – making millions of Dollars in arbitrage alone in cool, you and your family know it better than anyone. Yes, of course Dr. Swamy knows it.
Tow years later, in 2015, when Modi Govt had to honour the repayment, global analysts (incl. Indian economists) thought that the Rupee will hit ₹80/or 100/ against 1US$.
Nothing like that happened. Instead our foreign exchange Reserves shot up to an all time record level – a phenomenal to US$ 400 billions! Wow! Otherwise, if Govt of India likes to reduce the reserves, bringing down the exchange rate between 55~60 was possible artificially. Govt didn’t bang on populist model for better future of Nation building. But, currency got stabilised and India got upgraded by global rating agencies – “first large country to come out of recession and upgraded since the global financial crisis of 2007-08”.
You must be silent that time or may be busy to manage your ill gotten US$ as wealth and family assets globally.
Mr. PC, Congi stooges and Modi haters, what I want to highlight is something different. As follows:
In August 2013, along with the Indian Rupee, Venezuela’s currency BOLIVAR was exchanged at 68 Bolivar against 1 US$. Today in just 4 years, the exchange rate is unimaginable, 70000 Bolivar = 1 US$! Inflation has shot up from 20% to 4,000%. In fact, this undersigned is given to understand, the money they were paying 15 years back to buy a flat is being paid to buy a cup of coffee today. Alas! Could be exaggerated too to articulate it better. Still just try to understand the Indian Economy as a comparative study.
My real intention of explanation and worst part of the irony is, Venezuela has the highest global oil reserves, unlike India depends upon middle east Asia etc. Then, why the inflammation shut up so high? Who knows better about it than you Mr. PC. Come on Mr. Tihari Bail, tell the truth. I know, you will never confess. Let me say it. Let India know it.
The main reason for their crisis is – ‘most corrupt and poor Governance’ under the guise of socialism. Black money is their order of the day. Yes, US sanctions have aggravated their situation. But, the primary reason is subsidy regime, very poor tax payment, more than 45% of Venezuela’s private business are done in unofficial mode, like as good as PC models of companies, or so called Gandhi family models of money laundering. The Congress model of development and Indian bureaucracy to judiciary was made so to make India a bigger Venezuela.
My Dear Fellow Citizens,
Believe me or not (it’s your choice), but had not Modi led the BJP Govt and come to power in 2014 – believe me – India would have been the biggest Venezuela within 10 years. Yes Modi haters will keep instigating you by onion video or jokes and will keep articulating with their best skills of Oxford or Cambridge English, in social media and mainstream, against Demonetisation, flawed GST etc in the terms of “Tax terrorism”, “Saffron Terror”, “15 lakhs in account”, “Gubber Singh Tax” etc etc, and now “Stubborn and mulish in defending catastrophic mistake”….. “Does she eat avocado?”, so on, so forth……. Coining terminology for media is his and their ultimate politics in collaboration with paid or unpaid media.
My dear fellow sisters and brothers, by bringing the Modi Govt to power, we have not only helped ourselves, but we are helping our next generation too, let’s keep it in mind. I don’t appeal to stop criticism against Modi wherever necessary, like Dr. Swamy does. But understand the sad story, that most English articulating people are busy to time pass in sm with asking question to Modi Govt on “why FM Nirmala Sitharaman is not eating onion”… “Where are Acche Din?”….. Never be influenced by their narratives.
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