Wednesday, 7 November 2012

Obama's win, Lessons for Manmohan

The re election of President Obama for the second term has a lot of lessons to be learnt by our Prime Minister & Finance Minister.Obama consitantly tried to reign in the Wall Street and wanted to extend concessions to the middle class by giving tax concessions and wanted to tax the rich to reduce budget deficit.
If Dr.Manmohan Singh and P.Chidambarm pursue the same policies of Barack Obama and start tax concessions & Subsidise the middle class and tax the rich to reduce the budget deficit.All the tax concessions and rebates allowed to the rich industrialists in the name of higher investments must be withdrawn forthwith to ensure victory in 2014.
If UPA continues to withdraw subsidies given to middle class families and increase LPG & Diesel prices to enable companies like Relainace & Essar to make profits at the expense of  poor famileis the chances of coming back to power is bleak.
Obama worked for the aam aadmi of US whereas Manmohan Singh & Chidambaram added extra burden to the aam aadmi to please the rich. The time is not too late to rectify the mistakes and take steps to control inflation and extend help to the middle class families by taxing the rich and withdrawing all tax incentives to the super rich industrialists