All these years I kept thinking – since it was announced that Indian Government has returned the IMF and WB loans back – that India was not taking any more loans from the world organizations. But it seems like that it is not so.
The report is just out that India has become the largest recipient of the World Bank loans with over $9 billion worth assistance this fiscal ending June 2010, up fourfold over the previous fiscal.
With so much money coming in as assistance, can someone check where its all going?
I heard an economist say once that if indeed all the money given to Bihar for putting handpumps had indeed been used for that, every inch of Bihar’s land would have been covered by a handpump! That was in 1992!
The looting by the politicians in India is an institutionalized activity. And we all, proudly so-called secular and democratic folks abet them by not questioning. Heck, no one even knows the numbers.
No other Government announcement on this planet is so closely followed and so profusely analyzed as the Indian budget every year in February and the accompanying Economic Review. Yet, no other economy is as tardily analyzed and monitored as the Indian economy.
What is wrong with this scenario??
Either the economists and the smart-ass investment bankers have Attention Deficit Disorder (ADD) plus trouble looking at more than two pages in a coherent manner or they are just cheap bastards interested ONLY in how these documents/annoucements will affect their stocks!
There is NO attempt by anyone to monitor the Government beyond the ordinary rhetoric arguments with James Bond music in the background by pretty short skirted bimbos with no brains on TV! These presenters probably best belong in acting schools than journalism.
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