kasmenon

On the eve of the Budget,  the futility is depressing but the ignorance is becoming a tragedy.   We boast, or at least the lords who govern us asks us to digest, that we are the 4th largest economy !   Fact:  #  Nominal per capita income stands at roughly USD 2,818  per annum. In  *nominal per capita terms, India is ranked around 144th globally*..   For whom are we 4th largest , exactly? Yes, India has overtaken Japan in total GDP . But when that wealth is divided among 1.4 billion people, reality looks very different.  Even on purchasing power parity , we are still only around 125th. These rankings are not academic. They define how people live. Net FDI is now negative Wealth continues to concentrate at the top, with * one percent of the population controlling nearly half the country’s wealth *. Consumption keeps struttering. Lending or credit off-take is  a laggard. Sluggish  deposts. Unemployment consistantly at al...

Traditional and, in particular, post ww2 processes and routes towards dealing with natiinal interests ( in this case US) was based on slow diplomatic talks and pressures , leverage  international bodies like UN , world Bank , IMF etc  to advantage.  Even though the US and other developed nations manipulated the process through back door efforts, it still meant slow progress and often a stalemate. So, as a conseqence, the US often tried to use  force to get what it wants ( Middle east , Afghanistan for US . Falkland,  Argentina in case of UK, Ukraine for US and Russia) with doubtful results. Still, the balance of power , economic development of China , weakness of UK and EU, conservative US leadership etc  made US efforts less effective. Then comes Trump's second term.  He had no faith in the slow uncertain process. He is a impatient deal maker used to taking huge risks. He saw through the system in his first term. So he starts by shaking up the slee...