I told my colleague Aditya that in reality, it was probably a chance for her to reconsider her move because there was no way that the government would bend to her desires.
That’s not the most auspicious start to an American journalist’s attempt to call outcomes in Indian politics. The government’s reform plan, from which there was to be no retreat, no surrender … is in retreat.
The plot outline is simple: India must take urgent steps to fix its tottering economy, or risk a debt rating downgrade and other economic indignities that could lead to its worst financial crisis since 1991 when it had to ship all its gold to England and Switzerland to secure a loan to stay in business.
The United Progressive Alliance, a coalition government led by Prime Minister Manmohan Singh, dropped a bunch of bombshells last week including: