03 March, 2021

Red Curry Feels Good

The Congress-led coalition will realise the potential of economic reforms, precisely because of the Left

T. Narayan
Red Curry Feels Good
Talk about strange bedfellows! Over 10 years ago, when the country was witnessing its first troubled brush with reforms, the man who is now India’s 14th prime minister was the Opposition’s enemy number 1. The term that the Left used to describe him was not much better than what it had for Deng Xiao Peng, "running dog of market capitalism". Today, both have undergone a change of heart which has not only brought them together in the same government, however reluctantly, but also softened their individual economic visions to allow a comfortable jigsaw fit.

It’s a change the economy will take some time to absorb but even the worst fears indicate that this uneasy combination will not break the Budget. The stockmarket’s irrational panic as last week unfolded and a similar exuberance the next day reflected this. While it was clear the previous week that some people had ended up backing the wrong party and like the BJP, were acting as poor losers, the two-day drama last week also mirrored the palpable uncertainty about the future of the reforms on the part of investors,...

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