By Krittivas Mukherjee

NEW DELHI, May 23 (Reuters) – To its admirers, India’s ruling coalition has had a good year — sound fiscal policy to stave off a ruinous global credit crisis, fast growth and some tentative steps toward reforms.

Those are likely to be stressed by Prime Minister Manmohan Singh when he gives a news conference on Monday to mark the coalition’s first year in office.

But to its critics, his government has floundered on inflation, struggled ineffectively against a Maoist insurgency, and managed its political allies so badly its substantial parliamentary majority dwindled, hurting its ability to pass pro-market legislation needed to sustain robust growth.

A sense of bullish self-confidence marked the Congress party-led coalition’s handsome re-election victory last May, spurring hopes of firm governance and quick policy changes.

A slew of crises then undercut that electoral momentum, emboldened the opposition and weakened Congress’s hold on allies.