The rupee has taken a bettering. So has the capital market investment has dropped by 4% of GDP. Even if one accepts the questionable proportion that these segment need not be catered to with the lens of inclusive growth, the growth affects all India citizens. We have had an 80-page 3-year report card on UPA-II’s performance its brags about India’s growth of about 7% is for the full year quarter-wise trend is more like 6% now a far cry from 9% and aspiration for double digit levels. Instead of 9% growth and 6% inflation we have settled down at 6% growth and 9% inflation and Greeks are to blame.

Why does report have 80-pages? No, is not because there are 79 ministers and each deserved a page with an extra page for PM/PMO since we now PM is not be confused with PMO. It is probably because 080 universally identified as an emergency number there is an emergency. This does not concern fiscal and current account deficits that rating agencies talk about though they are important. It is more about governance trust deficits now given the euphemism of an implementation deficit.

Nor is it only about pursuit of an inclusive agenda. Had that been the case governance under UPA-II would not have been wore the under UPA-I. Allies are not the problem either in coalition politics. Managing allies in part of the government task Consider the following all of the malaise. At stroke of the mid-night hour on 9^th December 2009 telengana was announced with consequent aftermath. Yet again at midnight in June 2011, there was an ill-advised swoop on Baba Ramdev.2G,CWG and other assorted scams notwithstanding the country was told all those were notional and “zero” was reinvented. Planning commission unnecessarily because party to a suit before Supreme Court and ridicule about the poverty line. Censorship struck with a vengeance and not just social networking sites. A minister challenged a constitutional organ to hang him. Another minister threatened President rule in UP if congress was not voted to power bureaucrats take decisions for better or worse and part of ministerial is to insulate bureaucrats from after shocks. That insulation broke down and no bureaucrat take a decision any longer Cabinet do not functions and do not solve problem. There is an attempt to ram NCTC down of states governments the country is told about sam pitroda caste. We have not exactly covered overself with glory in dealing with immediate neighbours.I fall to see what allies or Greece have to do with any of this  in remarks on the report card Pm said there is a element of life and economies. While that true cycles are often superimposed on a secular trend. As these example downward spiral under UPA-II is incontestable no one seems to know who represents the government any more and what the government does. The government has not with heard away it is dithering away and moving from one crisis to another often of its own making. Now that short term myopia over some sate election are over short term myopia over president and vice president have taken over. We will then move on to another round of election assuming continued uncertainty and speculation over a Cabinet and PM out of the way in such dire straits humor is often balm. That too is now under government scrutiny.

Perception about time is relative three years of UPA-II have passed but they have seemed to be inordinately long. This is not about congress or who form the government in Delhi. It is more about there being some government in Delhi and the sooner elections are held the better it will be for the country. Chief Economic Adviser implicitly suggested this in the US.In the Indian political system electoral cycles are apart of life. But between elections one expects a government governs. The fact that we have accomplished 6.9% despite a missing government in Delhi is testimony to how focus has shifted to state and to India entrepreneurial talent if there was actually a government in Delhi despite global downturn and Greece we would have done much better And so that we have the counter factual right this is not about the filthy rich 6% means 9 million new jobs a year. 9% means 12 million. The 3 million who missed jobs and India deserve better.