Sunday, June 1

Shekhar Gupta, as usual

bang on target. On why the Italian National Congress lost in Karnataka. He makes some excellent observations and lashes out at the usual Rajya Sabha coterie around Sonia.

"This has subsequently reflected in its actions as well, and in its desperation to find favour for its rural schemes it has strangled the urban voter with a panoply of new taxes and cesses on goods, services, and most importantly salaries. Then to squeeze out liquidity to contain headline inflation, it has brutally increased interest rates. Most ordinary folks in cities, most of them not at all rich but low/lower middle class, are now paying up to 500 basis points more even on small loans for two-wheelers and essential white goods and for their children’s education. They curse the UPA every month as they pay their increased EMI. It’s only a party that refuses to understand this new sociology of Indian politics that overlooks the killer impact of EMI inflation on its voters. It is these follies that have lost it so many elections since 2004."

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