Bulls, bears and the Animal Farm that is India

M.J. Akbar in Khaleej Times:

“Who says no one listens to Dr Manmohan Singh? The bears do. Ever since the Prime Minister of India ordered Indians to release their animal instincts, the bears have started a carnival on Dalal Street.

“Maybe the instructions of our first economist-PM got mislaid in translation. He surely wanted bulls to march across Mumbai, conquering every stock exchange in an exhilarating stampede. Instead, horrible little bears arose from long hibernation, and turned into a wrecking crew that has left the economy gasping and government choked.

“In the meantime, picking up on another variation of the animal theme, the Indian rupee has turned into a truant chimpanzee, sliding down with pathetic glee and jumping up with an occasional wheeze, but quite certain that its destination is downhill.

“If the great Indian animal farm of 2013 seems out of control, it is because the keepers have lost the map as well as the plot. The economy is only one casualty of self-generated mayhem. The political stability of India is equally a shambles.”

Read the full article: Indian farm