Should we prepare for a 70s rerun ?

The present government has successfully moved India back to the nineties.

• The era of shortages is back ( diesel/power/LPG)
• Rupee is nosediving
• Fiscal deficit is alarming
• Inflation is back in double digits & continues to remain there
• Kashmir is back in the political centre stage

Would the next government takes us back to the seventies ? By that I mean

• Will our taxes sky rocket ?( Marginal Tax rate was as high as 97.5% in 1971 !)
  
• Will ULCA, FERA and other such acts make a comeback ?
  
• Will banks be nationalized once more ?
• Will Gold controls be reimposed ( I know it is a late 60s act rather than a 70s one )
• Will possessing 1000 rupee notes become illegal again ?

Whether we move back to the seventies or bounce back to the noughties would depend on who comes to power. My guess would be

• A Congress/Left would push us back to the seventies,
• A Congress/Riff Raff would slowly move us in the direction of the noughties
• A Congress majority would put us clearly in the noughties
• A BJP/Riff Raff combo would also move us in the noughties direction
• A BJP majority would put us clearly in the noughties
• A Riff Raff with outside support from either the Congress/BJP would leave us in status quo ( i.e stuck firmly in the nineties)
• A Riff Raff/Left combo could even take us back to the seventies in double quick time

Just my opinion. As usual feel free to disagree.