A harakiri

If UPA-I  was well ahead on every economic parameter than NDA , the credit is to be shared equally between the innate strong fundamentals of the economy based on decade  plus half of the ' 90s reforms and the refreshed vim of  a self assured government in power.But UPA-II  lost steam  and a plunging  industrial growth and.high CPI inflation , put the economy in a bind.  The turning point earlier,  had been the withdrawal of Left support in late 2008.The liberal leaning NAC then went on an overdrive of welfare schemes, since the Left was not there to claim credit for such largesse. The splurge on its employees through the VI th pay commission  without a modicum of riders on them over  efficiency and delivery of public services,  set the stage for escalating profligacy and waste. Fiscal economics was turned on its head even as adverse external and global factors induced systemic shocks.Even this  was  fairly well  managed  by its experienced ministers. 

    But the Congress had no Left , to raise Cain over corruption The inexplicable abdication of ministerial /cabinet supervision helped enlarge the space for it. It was the handling of the " scams " that really set in regression ,in the UPA-II. The Congress party distanced itself from its own government  and its low profile PM ,was not cut out for decisive surgical interventions.With parties unwilling to go for midterm elections at the height of the scams, the UPA was left to  carry the cross  al the way to 2014. "India shining " did not help a mediocre NDA but sadly " India failing " has stuck to a transfixed ,yet far better performing ,UPA.

Pub Economic Times Apr 18.