Finance Minister Pranab Mukherjee yesterday said that India may provide extra financing for the euro zone. He said this when RBI keeps on hiking rates again and again, petrolium companies keeps on hiking petrol price again and again, inflation increase again and again and hundreds of children die every day.
Does people in Western countries suffer more than Indians? Basic needs of human beings are food, clothing and shelter. People of Europe and US have excess of food, clothing and shelter. The main problem in western contries is lack of buyers for properties and shelters. People who have more than 1 house may find it difficult to sell their excess houses. But this is good for homeless people. They can buy at cheaper rates. In India many people don't have enough food, clothing and shelter. Govt. should think about this before helping developed countries.
How can we reduce deficit If we finance euro zone? If Govt. use money from disinvestment for helping euro zone then that will be a big blunder.
But there is a solution. Govt. can consider providing cheaper financing to euro zone from black money recovered from Europe. This will force European Governments to speed-up action against black money.
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