India will borrow more and pay Government employees – a bad fiscal policy that mirrors reckless Bush Administration in US
Nitin Agarwal
Mar. 2, 2008

Unfortunately Indian leaders have quickly picked up the bad practices from the inefficient reckless Bush Administration in US. The fiscal policies that is drowning the US economy into inflation and depression at the same time, is guiding Indian politicians in power.

India's $906 billion economy is expected to grow 8.7 percent in the year to March 31, the slowest pace in three years. Still, growth will have averaged 9.2 percent since April 2006, the quickest rate since independence in 1947 and behind only China among the world's major economies.

Indian budget deficit and trade deficit is worse than that of US as percentage of GDP. In spite of that Indian finance minister has decided to keep borrowing to keep Government employees more. India needs smaller and efficient Government.

Mr. Chidambaram should have taken the lesson from Governor Jeb Bush instead of US President George Bush. Jeb showed his competence as George showed his total incompetence.

The additional revenue will help meet any possible gains in salaries, Chidambaram said in an interview in New Delhi. The additional revenue is dream as world economies plunge into recession in 2008.

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