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India's economy in reverse mode: US daily
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India's economy in reverse mode: US daily

Sep 9 2013, 8:10am CDT | by IANS

New York, Sep 9 (IANS) India's economy is heading into a deep slump, a leading US daily says, calling Indian Prime Minister Manmohan Singh "an ineffectual leader without much authority".

New York, Sep 9 — India's economy is heading into a deep slump, a leading US daily says, calling Indian Prime Minister Manmohan Singh "an ineffectual leader without much authority". "India's once...

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1 year ago

India's economy in reverse mode: US daily

Sep 9 2013, 8:10am CDT | by IANS

New York, Sep 9 (IANS) India's economy is heading into a deep slump, a leading US daily says, calling Indian Prime Minister Manmohan Singh "an ineffectual leader without much authority".

New York, Sep 9 — India's economy is heading into a deep slump, a leading US daily says, calling Indian Prime Minister Manmohan Singh "an ineffectual leader without much authority".

"India's once booming economy is sliding into a deep slump. The country grew just 4.4 percent this summer, a far cry from the 7.7 percent average for the past decade," The New York Times said in an editorial Sunday.

The report went on to say that unlike other growing economies which are facing the economic downturn, most of India's problems have domestic causes, which need to be effectively tackled by the country's government.

"Like Indonesia, Brazil and other developing countries, India has been hurt as investors have moved money to the US to take advantage of the prospect of higher interest rates. But most of India's biggest problems - like its high inflation, which was nearly 5.8 percent in July and has been rising partly because of the falling rupee - have domestic causes.

"Until the coalition government led by Prime Minister Manmohan Singh reforms the country's economy, India will fall far short of its potential," it said.

The editorial also slammed the country's UPA coalition government for its involvement in various corruption scandals and for its mismanagement in dealing with large infrastructure projects.

"In the nine years that the coalition government has been in power, several ministers have resigned in corruption scandals; large infrastructure projects have been delayed by mismanagement; the government's budget deficit has ballooned, thanks to wasteful spending like subsidies for diesel fuel; and politics have thwarted reforms in labour and education," the daily said.

It further blamed the Congress party for showing little concern for India's ailing economy.

"Manmohan Singh has been an ineffectual leader without much authority. The real power is held by his political patron, Sonia Gandhi, who leads the Indian National Congress party, which has expressed little concern for the country's ailing economy," The New York Times said.

IANS

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11

6 days ago

Swamy asks Manmohan Singh to explain his duty as PM to India

Sep 15 2014 2:25am CDT | Source: Business Standard

Reacting to former Comptroller and Auditor General (CAG) of India Vinod Rai's allegations against former Prime Minister Manmohan Singh, Bharatiya Janata Party (BJP) leader Subramanian Swamy said here on Monday that Singh should explai ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
10

1 week ago

T N Ninan: In a troubled world

Sep 12 2014 11:20am CDT | Source: Business Standard

In contrast with Manmohan Singh, is Mr Modi proving to be a lucky p ...
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Update
9

1 week ago

Rahul Jacob: Book values

Sep 12 2014 11:19am CDT | Source: Business Standard

Why I didn't write a biography of Manmo ...
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Update
8

1 week ago

BJP questions Manmohan Singh's record as PM after Vinod Rai's revelations

Sep 12 2014 9:46am CDT | Source: Business Standard

Comments by ex-Comptroller and Auditor General (CAG) Vinod Rai that former Prime Minister Manmohan Singh cannot possibly shirk his responsibility in the 2G and coal block allocation scams gave Bharatiya Janata Party (BJP) ample opportunity today to ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
7

1 week ago

Indian PM to visit White House on Sept 29-30

Sep 8 2014 7:56pm CDT | Source: Business Insider

Washington (AFP) - Indian Prime Minister Narendra Modi, for years barred from visiting the United States, will meet President Barack Obama in two days of eagerly awaited White House talks at the end of the month.The meetings, on September 29 and 30, will take place on Modi's first visit to Washington since he led his Hindu nationalist Bharatiya Janata Party (BJP) to a crushing victory in May's elections. Modi was told in 2005 by the administration of president George W. Bush that he wo ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
5

4 weeks ago

UPA pressured me to drop names from CWG, coal reports: Vinod Rai

Aug 24 2014 8:04am CDT | Source: Business Standard

In fresh embarrassment to Congress, especially former Prime Minister Manmohan Singh, ex-CAG Vinod Rai has claimed he was pressurised by the UPA regime to drop certain names from audit reports in Coalgate and Commonwealth Games s ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

4 weeks ago

UPA pressured me to drop names from CWG, coal reports: Rai

Aug 24 2014 1:55am CDT | Source: Business Standard

In fresh embarrassment to the erstwhile UPA regime, particularly to former Prime Minister Manmohan Singh, former CAG Vinod Rai has claimed that coalition functionaries had deputed politicians to get him leave out names from the audit reports in the ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
3

4 weeks ago

Manmohan wanted to contact Pakistani militants: Yasin Malik

Aug 23 2014 5:05am CDT | Source: Business Standard

JKLF leader Yasin Malik has said then Indian prime minister Manmohan Singh wanted him to contact militants in Pakista ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
2

4 weeks ago

Father and friends

Aug 20 2014 10:55am CDT | Source: Business Standard

Thanks to the huge explosion of uninformed opinion, no other prime minister has had to bear so much hate and, worse, ridicule as Manmohan Singh. How did his family react to this tsunami of abuse, jokes and even insults?Daman Singh, ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
1

4 weeks ago

Manmohan Singh immune as PM, not as FM: US court

Aug 20 2014 12:00am CDT | Source: Business Standard

US District Judge ruled that Manmohan Singh was entitled to "residual immunity" even after he ceased to be t ...
Source: Business Standard   Full article at: Business Standard
 

 

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