Fis­cal Flot­sam

India Today - - MAIL -

The big­gest rea­sons for dol­lar out­flow from the coun­try are crude oil and gold im­port (“Emer­gency”, Septem­ber 2). But that has been the case since ages. What is wor­ri­some is the fact that this Govern­ment did not do enough to cre­ate a con­ducive at­mos­phere for dol­lar in­vest­ment in the coun­try. There has been huge pol­icy paral­y­sis which not only de­terred for­eign in­vestors but do­mes­tic in­vestors as well. And by mix­ing pol­i­tics with economics by way of sub­si­dis­ing sev­eral items in or­der to get votes, the Govern­ment has di­rectly en­cour­aged a growth in cor­rup­tion that has forced us back sev­eral years. Our econ­omy is in dire straits and noth­ing but strong mea­sures can help sal­vage the sit­u­a­tion. BAL GOVIND, Noida

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