This Friday(31st August), India's GDP growth numbers for the quarter of April-June will come out. Analysts are forecasting tepid pace of growth following previous quarter's disappointing numbers. Meanwhile, investments are slowing down , infrastructure development is grinding to a halt .There is more pessimism about near term growth. RBI, worried about persistent inflation is unlikely to ease monetary policy drastically.The solution as ever, is to enact some of the long pending reform measures.
Presidential elections were seen as a hurdle the government had to get over before starting a fresh reform drive. Elections have come and gone with no major signs of policy response by the government. On cue, the new parliament is in session and a familiar script is playing out. BJP , the main opposition party wants the prime minister to resign, this time over alleged irregularities in the allocation of coal blocks to private enterprises.
Disruption of parliament proceedings is becoming a norm than an exception. To be sure, if BJP comes back to power in the next parliamentary elections who is to say their main opposition(Congress party) would not respond with the same scorched earth tactics. All they need to do is hold up evidence of malfeasance somehow connected to the ruling coalition and demand the ouster of the government. Lord knows there is enough graft and misgovernance to be found among all major parties' state and local governments. This cycle could become recursive. I wonder how long this has to go on before we have a government that is willing to govern and will be allowed to.
Presidential elections were seen as a hurdle the government had to get over before starting a fresh reform drive. Elections have come and gone with no major signs of policy response by the government. On cue, the new parliament is in session and a familiar script is playing out. BJP , the main opposition party wants the prime minister to resign, this time over alleged irregularities in the allocation of coal blocks to private enterprises.
Disruption of parliament proceedings is becoming a norm than an exception. To be sure, if BJP comes back to power in the next parliamentary elections who is to say their main opposition(Congress party) would not respond with the same scorched earth tactics. All they need to do is hold up evidence of malfeasance somehow connected to the ruling coalition and demand the ouster of the government. Lord knows there is enough graft and misgovernance to be found among all major parties' state and local governments. This cycle could become recursive. I wonder how long this has to go on before we have a government that is willing to govern and will be allowed to.
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