Oil Price hike, does not, by itself surprise anyone. What is all wrong, is the timing. The backdrop of all round soaring inflation and high food prices is hardly the perfect setting. But that is not my immediate worry. The next thing that might hit us soon, unrelenting and unmanageable, is a case of severe food shortage. We are staring into the face of a modern day drought.
It takes a few years for wrong macroeconomics to make its presence felt. A few decades at the most. Likewise, a wrong like this cannot be corrected through short term first aid measures. It takes a few years of great economic planning and execution to correct a situation as mammoth as this. In short, we need tree planters and not manicure shrub gardeners.
Therein, ladies and gentlemen, lies the problem. Our 5 year term democracy has many benefits. But there is one shortcoming. It does not encourage people to be tree planters. Everyone wants to make their 5 years look good. That creates manicure shrubbery that looks good on paper and in photographs. Even good minds that are a part of the current government have not been able to give serious thought where it is due(which is what heightens the frustration. One does not expect good macro economics from Advani. But a Montek Singh Ahluwalia or a Manmohan Singh not doing what they do best, is unforgivable)
Unfortunately, one only has the problem. No solutions.