Indian Economy- any light at the end of the tinnel?

Utopian Indian Economy? Indian economy is in the doldrums. The caretakers of the Governments (Ruling coalition) and the watchdogs (Opposition parties) have been creating a near riot, and the economy, if it is not contained will hit gloom. The tsunami has already been formed, and to liberate the economy from its low would be an impossible and Utopian task. Companies are not performing to their capacity. There is a big gap between the installed capacity and working capacity due to idle capacity. Government has made RBI to commit all the economic flaws, impersonating the very same mistakes other nations in similar circumstances adumbrated. Our economy is slowly entering into a ‘debt trap’. Handsome foreign trade achievement. Between April- August 2011, despite the continuing meltdown and slakness of the markets, Indian exports generated Foreign Exchange to the tune of US $ 134502 million (Rs 602031.90 cr). A growth of 54.21% in dollar terms and 50%in Rupee terms. The export sector delivered a growth of 50% in Dollar, Rupee terms. Imports, necessary and unnecessary devoured US $ 1, 89,393.77 million (Rs 8, 47,987.07Cr) notching up a BoP position of the trade balance standing at (negative) $ 54891.23 million. The Rupee is fast depreciating against the Dollar (which continues to be weak). Corporate have borrowed in debt instruments more than US $ 50 billion but due to over heated Rupee, their gains have turned losses. Rupee is at its highest depreciation. The Commerce Ministry has been expressing hope that all is not lost, there would be no “w” growth, but momentum will see a gradual change by March 2012. Our Oil companies continue to bleed the consumer. Having monopoly status, every market affliction will be faithfully passed on to the consumer. There is a week Oil and Natural Gas Ministry at present, which cannot diagnosis the symptom with the result turning to be incorrect. Inflation has been mounting. Food prices are rising with alacrity. Oil prices are unbearable. It is very difficult for a middle class man to make both ends meet. Indian economy has become a candle, and due to the worst reign ever, since independence, the candle has burnt more than 70%. Fiscal deficit continues to haunt the government. Yet, the Finance Ministry is persisting with it, so that the continuum has made a spin off to the vulnerable sectors. Bank Credit rates increased 13 times in the last 18 months, has put India’s liberalization twenty year backwards. That too, when the architect of Indian reform, who’s Economic Revolution, made India one of the faster growing economies? Why is the economic clock turning anti clockwise? Why? Dismal financial conditions? Low down Economy? Depressed economic scenario? Our ineptitude handling? Prices skyrocketing, economy is struggling dragging its feet, industrial production has gone awry, industrial clusters wear deserted look as production has slipped to 50% with the growing of idle capacity, common man continues to be burdened and over burdened without any relief, expenses are mounting like Tendulkar’s batting, fiscal deficit is growing momentously, FII, FDI has come to a near halt, and the stock markets continues to fickle instead of dazzling. Our debt burden is likely to reach Himalayan proportions if we do not rein in the negative out flows. But we cannot stop imports. In spite of all these negative signs on the economic landscape, the mandarins in the Government profess to cough off all these happenings as a mild headache which can be corrected. Priorities are distorted, no course correction to direct the economy towards positive direction. There requires an attitudinal change on the part of the ruling Party especially the men who control the nation. The opposition also have a moral duty to prevent an economic collapse. Balance the economy is the imperative need, and any dithering will be catastrophic to the economy as well as the Nation. Better late than never.