New Delhi: With less than 100 days to go before the general elections the UPA government still has a lot to prove on the economic front. Though the government has been able to rein in inflation, a falling rupee, credit crunch and shrinking exports have taken the sheen off the 9% growth in previous years.
Click here to watch video
/Content/Videos/2008-12-03/0212_100 Days Govt_Pkg_MINT_TV.flv
Economist Bibek Debroy adds, “If one hasn’t done anything significant in terms of reforms for close to four and a half years, you don’t expect reforms to happen in the next 100 days.”
Cutting interest rates to revive domestic demand has not yet translated into easing of liquidity — neither for consumers nor lenders. And with the Prime Minister now holding the Finance Minister’s portfolio, many think the time for forward-looking reform is long over.