In an interview to a top news channel CNN-IBN, Forbes Magazine CEO Steve Forbes has said that the United Progressive Alliance in India (UPA Government) has made series of policy errors at many levels. It may be noted that UPA completed its third year of second term and it has been facing severe criticism from many economic analysts across the globe.
Steve Forbes has said that heavy taxes that remind us of taxes in 1960’s were imposed on the public as the economy didn’t grow. Asked as to what advice he would give the UPA if the prime minister Manmohan Singh himself called Forbes Magazine, Steve Forbes has said that he would ask the United Progressive Alliance to stabilize the rupee and reduce taxes. He has also said that allies might disapprove this.
Not just Steve Forbes but many economists are reportedly shocked over the sky-rocketing prices in the country and the apparently pathetic condition of the middle-class. The government should now at least take this on positive note and look into reducing the taxes and prices of essential commodities. Otherwise, it would presumably be tough for the UPA to come to power in 2014. (Phani)