India is going through a rough patch. The common man knows it, foreign investors know it and so does our government.
Finance Minister Pranab Mukherjee, who is also one of the contenders for the post of president, has been trying his best to clear the air and restore the confidence to get the economy back on track.
In his recent Parliament speech, after he delayed the controversial GAAR norms, Mukherjee said new ‘austerity measures’ will be announced to aid the fiscal consolidation process.
The government, however, still doesn’t seem to be frugal when it comes to spending.
On Monday, newspapers in New Delhi were flooded with ads, some of them full page, on the 21st death anniversary of India’s former Prime Minister Rajiv Gandhi. Hindustan Times alone had 11 of them. The Times of India had nine while The Indian Express had eight, all paying tribute to Gandhi.