During last few years, particularly during last few months there has been constant and continuous decline in the popularity of Sonia Gandhi and Man Mohan Singh government. They are seldom together in public and speak to public. During last few days their popularity has further declined as never before as there has no economic reforms worth the name or could be mentioned particularity in the field of economics which is only important sphere which can improve the condition of poor, now more than 40 percent of the population . Since 2000 India has been facing decline in economic development as well as world-wide reputation. The decline in proportion and popularity commended with few years of BJP rule. But there after it has been further Deterioration. Worst was congress rule, more particularly during the last few years. Worst crisis came to be witnessed as never before in India’s history when there was no work in Parliament in 2011 but even throughout 2012 as the economic condition of the world and India, too, is continuously going from bad to worse and there appears to be no chance of recovery. Already 40 percent people have come below poverty line. If conditions do not improve, as is feared, soon there will be 50 percent people of India below poverty line as never before.
It is shocking to note that Industrial output in India has fallen during 2011, particularly lowest in October 2011 since 2009. In October 2011 it fell by 7%, i.e. worst performance. What are its repercussion on Indian workers, particularly now more than 40% poor Indian’s their family’s livelihood as it has led to high inflation particularly in food articles of daily use like rice, wheat and pulses and also vegetables. Manufacturing sector was also hit by rising interest rates and decline in mining output. Foreign Direct Investment (FDI) which is being set aside because of opposition by the BJP and other opposition parties like CPI will further lead decline.
There has been deadline for 9 days till government bowed and Pranab Mukherjee announced in Parliament on Wednesday the 7th November 2011 that government has decided to hold back “Implementation” of its policy of foreign direct investment. Though it is temporary but it pacified the opposition parties like BJP. Pranab’s announcement in Parliament though half hearted said “The decision in permitting FDI in multi – brand retail in suspended in developed among various stock brokers.