The good news is that Congress has found it easy to form a coalition with what looks like a stable parliamentary majority. It will thus spare the country a repeat of the past five years, in which the party squandered its energies appeasing its allies in an unwieldy coalition. The election was also heartening because it revealed the limits of divisive politics. India’s second party, the Bharatiya Janata Party (BJP), remains rooted in the Hindutva (Hindu-ness) movement, which seems to believe that India’s 160m Muslims live there on sufferance. The BJP lost ground this time, showing yet again that Hindu nationalism is enough to underpin a party, but not a government.
Still, Congress must not now fall prey to complacency. The party is a big, shapeless tent, tethered to the Nehru-Gandhi dynasty, which has provided three of the country’s prime ministers. The courtiers have now turned their attention to the next in line, Rahul Gandhi, the son of Sonia Gandhi, the party’s leader. But, following the example of his mother, he is in no hurry to become prime minister. That is commendable. Manmohan Singh, the Oxford-educated economist who has been prime minister since 2004, has business to finish.
In spite of the rapid growth in the Indian economy, the rate of job creation is still abysmally low. The bulk of the growth has come about from the services sector which can employ a few million while the manufacturing sector provides employment to another 7 to 8 million. This pales in comparison with China which has created over 100 million jobs in the manufacturing sector.The Indian economy is an anomaly compared to most of its fast-growing Asian neighbours. Unlike the fast growing East Asian economies, India has not created job opportunities for those working in agriculture to move into jobs in manufacturing at a rapid pace. Some of the industries in India may need bailout for recovery. Read more click http://personalmoneystore.com/moneyblog/2009/05/07/taxpayers-payday-loans-personal-bailout/
The results indicate that the Left was voted out and the people preferred the country to be on a pro-growth progressive track.
#1. You may want to check your figures again – 7 to 8 million is too low for the registered manufacturing sector, especially with the last census. Services account for about 53% not a small number, agriculture was the least – 9%. What “bailout” are you referring to?
RobertoS kind of looks like a payday loan scammer to me, JGeorge.