Saturday, June 21, 2008

Nuke-Deal

On one hand, the ManMohan Singh Government could not push forward the nuke-deal. On the other hand, finance ministry is unable to find a way to maintain the promised growth rate. More than 85% of the Indian market is in an overdraft mode. That's why Congress is looking forward to an escape route through early elections. Things will NOT change even if BJP comes to power. There is not much scope for creating credit via religious extremism route. Under these conditions, BJP is simply exhibiting lack of patience. It is unnecessarily taking inflation-burden on its shoulders. Prudence suggests that even if Marxists withdraw support, BJP should ensure the survival for the Congress-led government. Then only the finance ministry can implement fiscal discipline in Marxist dominated constituencies !

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