here's an interesting chart in today's mint
It shows how the the fiscal and current account deficit in the economy has reached the same level as in 1991. Prme Minister Manmohan Singh gets a lot of credit for supposedly getting the country back from the brink. However, his performance during the last eight years leaves a lot to be desired. There has been fiscal and economic mismangement of teh highest degree in the last three years. The cuurent handling of rupee depreciation is the lastest example of that. Although the first UPA term was equally bad, the slip didn't show up due to trickle down effect of NDA regimes earlier reforms and a resileint global economy.
the gains of 2003-2008 have been completely squandered with populist schemes and poor energy planning. As things take a turn for te worse in global economy, a very tough challenge lies ahead. Not sure if Mr Singh is upto it......
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