Tuesday, 10 July 2012

Manmohan Singh not an underperformer

This week TIMES magazine in an article calls PM Manmohansingh as an under performer. Times memory is short lived and so it generates heat in Indian politics. The average GDP growth for the last eight Years is 8.25%which no Prime Minister of INDIA had acheved. The current turmoil is due to global factors. For the last one year OIL prices have sharply increased. only now it has come down due to global recession. European banking crisis, Spains Problem Italys economic conditions Greeces financial burdens naturally affected Global Economy.India is not an exemption to this crisis.Even in this crisis India had achieved 6.3 growth rate. India is next only to China in GDP growth. Some internal problems such as coalition compulsions doesnt allow to carry more reforms. Some conventional parties for their political survival are rigid in not allowing the FDI RETAIL.Other opposition parties taking advantage of the situation doesnt cooperate with the ruling coalition.In this situation how can Manmohan the modern Indias Economic architect give more reforms? Inspite of all the odds he tried his best to push reforms and make sincere efforts to get FIIs in development.If coalition is Peoples choice the same to all fiture governments.

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