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: Consider the problem differently. With new inflation figures, speculation about early elections because of the nuclear deal should be dispelled.

However, there will be elections in 2009. UPA’s sacred book for all policy is National Common Minimum Programme (NCMP). This is a vague mishmash. It is clear about what the government cannot do, but is sketchy about what the government should do, and how. Consequently, it is a confused motherhood pronouncement. Despite it being a political, rather than economic, document, it can be precise. And in 2009, the incoming government should do better. If you ask external agencies about what should be included in the laundry-list of the new NCMP, you will get items like Industrial Disputes Act, FDI in retail, privatisation of PSUs (also banks), liberalisation of insurance and pensions, lower tariffs, corporate farming, exchange rate convertibility. Without denigrating their importance, my list is completely different. (1) Be clear about what is a public good, warranting government-provisioning. My list is water (irrigation and drinking), power (generation and transmission), rural schools, primary health centres, rural roads, law and order and security. Given scarce government resources and possibilities of private-sector provisioning, nothing else needs inclusion. If transport connectivity improves, I am not even sure that rural schools and primary health centres belong. (2) Identify and subsidise the poor. This isn’t that difficult.