ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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NEW DELHI-Unconvincing Economic Recovery

Unconvincing Economic Recovery B M IN spite of some pick up in economic activity following a normal monsoon and a bumper kharif crop, official circles in New Delhi still display an unusual lack or boldness and assurance about prospects for the new year. This is a little out of character for the present political leadership which gained power with a sweeping electoral majority a, year earlier. What seems to be sapping the leadership's confidence is that even as economic activity has picked up and trends in production in several cirtical areas, among them power, coal and steel, are beginning at last to show some improvement since August-September, there is an eruption of mass and sectional agitations on a widespread scale. The embarrassment on thus account has only been compounded for the leadership by factional infighting within the ruling party which too has been growing in scale and intensity. The mood of nervousness in ruling party circles was perhaps best illustrated by the Finance Minister's remarks at a meeting with the Forum of Financial Writers on New Year's eve that the spreading sectional agitations may well undo whatever little has been achieved in recent months and upset all his calculations.

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