MONETARY POLICY- Window-Dressing

Congress to win probably explain its loss of votes.
All eyes are on Pondicherry now. Alter the usual waiting game, the ornin- out reports of the Governor awaiting the Centre's reaction and the sabre-rattling of the CPI, the ADMK has been allowed to form a government which the CPI has joined. It is, however a moot point as how stable this government is going to be, for things could not be more evenly balanced in the Pondicherry Assembly. The ADMK- CPI alliance holds only 14 seats in the 30 member Assembly; with the conditional and critical support announced by the CPI(M) member this still forms only 50 per cent and makes crucial the role of the DM -supported independent who announced the other day: "I am an independent candidate. What I should do has not yet been decided." The ruling combine has, in addition, to face the 'loss' of one member to occupy the Speaker's chair.