Thursday, June 08, 2006

A rabid dog chasing its own tail


Former external affairs minister Natwar Singh has alleged that the UPA Government and some Congress leaders are trying to fix him and his son Jagat Singh in the Iraqi oil-for-food scam. Natwar made this allegation, which could greatly embarrass the UPA Government.

Under severe attack from various quarters, including the Congress party, the government said the new form introduced for filing Income Tax returns would be dropped from next year.

The Government today denied that it would reduce the revised fuel prices and began an exercise to "hardsell" the hike to protesting parties and states. But the option of a rollback remains open given pressure from the Left allies and even from within the Congress.

Sounds like a serious case of schizophrenia. There is no leadership, the facetime awarded to the PM and Cong leadership has been miniscule compared to what was awarded to virtual non-entities like Arjun Singh.

Meanwhile SENSEX appears to be all set for a bungee jump. Exchange rates are shooting through the roof. Hot money is disappearing. Who knows that the deficit is like? There is evidence of central bank interventions of the kind that collapsed Argentina recently.

Here, you wanna help dada tie a rope around this rock?
We'll tie it to her footsie then we'll roll her off the dock
Ready now, here we go, on the count of free..
One.. two.. free.. WHEEEEEE!

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