India Policy: Time to Act is Now

I have always been most impressed with Arun Shourie and in the midst of this crisis he has spoken...the government should forget politics and take heed...create a bi-partisan effort to deal with this crisis...BJP says crisis needs bigger response. Some excerpts:

India needs to restore economic confidence hit by the global credit crisis by helping struggling industries, boosting infrastructure spending and dramatically improving governance, a senior opposition politician said.

He criticised the current Congress party-led coalition for irresponsible off-budget spending, populist schemes that did not boost productive capacity and heavy-handedness in tackling supply-side inflation by simply raising interest rates.

"Money will come forward, the Indian investor will come back. He will certainly come back in government-guaranteed debt... provided he is confident that the government will go ahead with the project and execute it efficiently."

I agree.