Can Manmohan get Economy Back in Groove?

The most primary quandary was the Congress’ own lack of conviction about any of the reform proposals. For instance, manmohan Singh has been persuasive in showing that the ID project will revolutionise service delivery in India, but still it remained a mere showpiece as he wasn’t able to ensure the proper implementation of it. In between the fight of Nadan Nilekani and P Chidambaram, he accepted to just compromise which wouldn’t solve any issues that it was supposed to tackle.

So all the good projects that were bcaked by the Prime Minister or the India’s finest technocrat-CEOs were unable to prove succesful. The question that arises in our minds is that, whether there is any chance that the other proposals made by the others will make much of a difference or will it work? In the recent G20 summit held in Mexico, Prime Minister Manmohan Singh made several promises of reviving the growth and said that his government was determined to take ‘tough’ decisions, including on controlling subsidies, to reverse the expansion of the fiscal deficit, even as he expressed confidence in bringing back the rhythm of high growth of 8-9 per cent annually.

He said at the meet, “Investment has been affected by the adverse global climate which impacts both foreign and domestic investors. We are taking steps to revive investor sentiment.” He also added, “We are determined to create an environment that would boost investor sentiment and promote an atmosphere conducive to enterprise and creativity. Our policies will be transparent, stable and designed to provide a level playing field to both domestic and foreign investors.”