Besides, BJP has little stake in the agriculturally prosperous states which, bar Uttar Pradesh (West), are chiefly under non-BJP rule (Punjab, Haryana and Andhra Pradesh). In any case, the seminar was all about scoring talking points. It perhaps made industrialists happy that any effort to raise the tax-GDP ratio would be directed at agriculture and not industry.

Likewise land reforms being a state subject, Sinha had no difficulty in falling in line with the Communist demand in this regard. Curiously, no one asked if land reforms could meaningfully satisfy the land hunger of thevast number of landless. In the event, the issues of tenurial security, rising use of labour-displacing technology in rich agricultural regions and enforcement of minimum rural wages did not figure at the seminar.

Industrialists must have wondered why the role of corporates in commercial farming in support of a nascent and vibrant agro-processing industry did not find a place in the discussion. The Left espoused cliches which the Right cleverly echoed, and that was that.

Sinha also agreed with CPM's Yechury on the role of the domestic market in fuelling industrial demand. This should have pleased domestic business. The political parties seemed to have forgotten that the liberalisation's key thrust is to make the economy competitive and export-oriented. Indeed, unless annual export-growth exceeds 14 per cent in US dollar terms, GDP growth cannot rise above six per cent. Hard issues were thus evaded. Much hot air was expended on "fiscal fundamentalism" (Yechury) with the finance minister talking aboutneed to eliminate revenue deficit (how?).

The sobering comment came surprisingly from Pranab Mukherjee (Congress) who pointed to a gap between rhetoric and implementation of economic targets, adding that perhaps it was not desirable to have "too much uniformity among parties on economic matters". Judging by seminar, a national economic agenda before the coming general polls (or even after) is out. Even agendas of BJP and Congress groupings are unlikely simply because political alignments have yet to gel. It is difficult to say where a third front (should one emerge) would stand. Business must draw solace from the fact that reforms have reached a point where only forward movement, however slow, is possible.