The aura surrounding , Mr.Palaniappan Chidambaram, the most idealised Finance Ministerof India ,has waned.
The radiance of his spectacular oration, the nimbus of his over bearing presence,and the sparkle of his policies have lost their lustre.
Economy of India ,is now in shambles.
Generally this may be attributed to Global meltdown. But specifically ,the weakening of India’s financial spectrum is due to the policies of the much talked about and most garrulous minister, Mr. Chidambaram.
His philosophy of business ,is completely an anachronism, in the Indian application.
Indian economy was making a slow and a steady progress, The advent of Mr. Chidambaram with his rapid dash in globalising, has mesmerised the country’s vulnerable financials.
He threw open the much guarded doors of the stock markets ,thus paving the way to the entry of overseas investments.
The sen sex rose exorbitantly high, reached the summit of about 21,000.
He invited sophisticated foreign business houses to participate in India’s roaring growth.
He gave a stimulus to companies which tagged with competitors of the world.
The scenario was one of plenitude, one of perfect amalgamation of export and import culture, one of appalling growth and one of unforeseen impetus and unrivalled enthusiasm.
The brand motto “India is shining” , made us gape. propelled us to adore the shimmer,and forced us to look aghast
Is India really strolling , nay racing ahead of all powerful nations?
The throbbing mind was put to rest by the quick successive crashes in the stock market, fast deterioration in industrial output, speedy rise in prices of commodities like rice, vegetables, dhals and fruits.
The stock trader lost his investments, the industrialist was ebbed by negative results, the common man was thrown out by the steep escalation in groceries.
Mr. Chidambaram has dissatisfied all cross links of society.
A week back, he was summoned by the Prime Minister, Manmohan Singh ,while he was participating in a function in his native place Kandanoor, a remote hamlet in Southern Tamilnadu.
He was asked to take up the Home Minister Portfolio, which became vacant due to the resignation of Mr Shivaraj Patil.
The latter behaved most clumsily during the terrorist attack in Mumbai.
We expect Mr.Chidambaram to perform creditably in the new innings as Home Minister, since the country’s security consideration is alarmingly low.
He should make the best of it and amend for the mess he created as Finance Minister.