India needs Young leaders. That never seems to happen in the country and somehow the ‘Left’ leaders not aging fast enough and retiring from active politics.

Also, you have spoken of the headstart the congress government had in terms of a comfortable forex reserve, a blazing GDP growth and FI interest that it could have capitalised on to push India ahead of China. Consider this: From an average of 6.9 pct growth (the time the congress took over from the BJP) to a 12-13 pct growth that is needed to overtake China would mean huge inflation pressures on the economy and infinite fiscal problems. Aren’t we already seeing the effects of an over-heated economy?

But then again I am not trying to completely absolve the prime minister. He has made mistakes. The government should have abandoned the outdated idea of controlling and subsidising fuel prices long ago. After a populist budget and fuel tax cuts, the fiscal outlook is also deteriorating and of increasing concern to investors.

The problem is this: hard decisions are tough in a country ruled by disparate coalitions. The government should have taken tough decisions last year to raise fuel prices and tighten monetary policy before things span out of control.

Instead, the need for some decisive policies
is obscured by an often inflated sense of well-being.

The resignation of Manmohan Singh may only help him salvage some of his personal dignity but not pull India back from the financial quagmire we are headed towards.

Again, Manmohan Singh is showing timidity and weakness in dealing with the left on the nuclear issue. Manmohan Singh, stop giving into the left’s blackmail. Resign and leave with a bit of dignity from high office. Otherwise, your tenure will barely be a footnote in history.