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By conventional wisdom, the two persons who deserve dollops of sympathy today are Prime Minister Manmohan Singh and Congress President Sonia Gandhi. Both are not getting any sympathy. In fact, economic pundits are hauling them over coals as the rupee is in a free fall vis-a-vis the American dollar and the middle class dreams of sending the son to the land of El Dorado for higher studies and fetching from the land of the Big Apple the husband for the daughter have suddenly become pipe dreams.
By conventional wisdom, the two persons who deserve dollops of sympathy today are Prime Minister Manmohan Singh and Congress President Sonia Gandhi. Both are not getting any sympathy. In fact, economic pundits are hauling them over coals as the rupee is in a free fall vis-a-vis the American dollar and the middle class dreams of sending the son to the land of El Dorado for higher studies and fetching from the land of the Big Apple the husband for the daughter have suddenly become pipe dreams.
What has gone wrong, how and why? These are questions that have made every one of us overnight experts in Current Account Deficit, fiscal deficit, monetary policy and related matters like we love to declare who should make it to the Indian Cricket team. Neither the finance minister, who speaks like a lawyer, which he is by practice, nor the Prime Minister, who speaks like a politician, which he has become after two decades in public life, has helped matters.
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