2/18/14

The FMs successor is in trouble | Business Line

The FMs successor is in trouble

Ar
unJai
t
l
ey
The UPA inherited an upbeat economy from the NDA and ran it to the ground

TheVot
e
onAc
c
ounti
nPar
l
i
ame
ntwasav
al
i
ante
f
f
or
tt
os
howc
as
eade
c
adeoft
heUPA
sdi
s
as
t
r
ouspe
r
f
or
manc
eon
t
hee
c
onomyf
r
onti
nane
l
e
c
t
i
ony
e
ar
.I
twasane
l
e
c
t
or
ali
mpe
r
at
i
v
ef
ort
heFi
nanc
eMi
ni
s
t
e
rt
or
e
pac
kager
e
al
i
t
yi
n
t
e
r
msoft
r
umpe
dupnumbe
r
s
.Hec
l
ai
mst
hatt
het
r
e
ndgr
owt
hr
at
edur
i
ngt
hepe
r
i
odt
hatt
heNDAwasi
npowe
r
wasbe
l
owwhatt
heUPAhasde
l
i
v
e
r
e
di
ni
t
st
woc
ons
e
c
ut
i
v
et
e
r
ms
.
Oneunde
r
s
t
andst
heFi
nanc
eMi
ni
s
t
e
r

sc
ompul
s
i
ont
owe
av
eagl
os
s
ynar
r
at
i
v
ebutt
he
r
ei
snoge
t
t
i
ngar
oundt
hef
ac
t
t
hatMrChi
dambar
am i
nhe
r
i
t
e
dan8.
5pe
rc
e
ntGDPgr
owt
hr
at
eande
xi
t
sona4.
5pe
rc
e
ntGDPgr
owt
hr
at
e
.
Expl
anat
i
onshav
ebe
e
nof
f
e
r
e
dont
hebas
i
soft
hegl
obalf
i
nanc
i
alc
r
i
s
i
s
.Butwear
r
i
v
e
dont
hes
c
e
nei
nt
hewakeof
t
heAs
i
anf
i
nanc
i
alc
r
i
s
i
sande
xi
t
e
donaf
armor
epos
i
t
i
v
enot
et
hanwase
xpe
c
t
e
d.Thegr
owt
hr
at
ene
v
e
rf
e
l
lbe
l
ow5
pe
rc
e
nt
.
I
nc
ont
r
as
t
,f
ort
hel
as
tt
hr
e
ec
ons
e
c
ut
i
v
ey
e
ar
sofUPAr
ul
e
,t
he
r
ehasbe
e
nas
har
pf
al
li
nt
hegr
owt
hr
at
ef
r
om ane
ar
9pe
rc
e
ntt
ol
e
s
st
han5pe
rc
e
nt
.The
r
ei
snoge
t
t
i
ngawayf
r
om t
hef
ac
tt
hatChi
dambar
am i
nhe
r
i
t
e
dabuoy
ant
e
c
onomyandi
sl
e
av
i
ngi
ti
nal
e
s
st
hanhe
al
t
hys
t
at
e
.
Expenditure squeeze
Le
tusas
s
e
s
shi
spe
r
f
or
manc
ewi
t
hr
e
gar
dt
ohi
sownt
ar
ge
tt
obr
i
ngt
hef
i
s
c
alde
f
i
c
i
tdownt
o4.
8pe
rc
e
nt
.Thec
l
ai
m
t
hatt
he
r
ehasbe
e
naf
i
s
c
alc
ons
ol
i
dat
i
onwi
t
ht
hef
i
s
c
alde
f
i
c
i
tpe
gge
dat4.
6pe
rc
e
ntoft
heGDP,be
l
owt
hee
s
t
i
mat
e
d
4.
8pe
rc
e
nt
,i
sdi
s
i
nge
nuous
.
Hehasac
hi
e
v
e
dt
hi
sappar
e
nt
l
ys
pe
c
t
ac
ul
arf
e
atnott
hr
oughr
e
v
e
nuebuoy
anc
yorbyr
e
v
i
v
i
ngt
hei
nv
e
s
t
me
ntc
y
c
l
e
.
I
nde
e
d,t
hi
sr
e
duc
t
i
oni
nf
i
s
c
alde
f
i
c
i
thasbe
e
nac
hi
e
v
e
dbyas
e
v
e
r
er
e
duc
t
i
oni
ne
xpe
ndi
t
ur
e
,par
t
i
c
ul
ar
l
yc
api
t
al
e
xpe
ndi
t
ur
e
.Thi
si
spar
t
i
c
ul
ar
l
ygal
l
i
ngi
ns
oc
i
als
e
c
t
or
swhe
r
et
heCongr
e
s
sl
i
ke
st
omaket
al
lc
l
ai
ms
.
Thegr
ant
sf
orc
r
e
at
i
onofCapi
t
alAs
s
e
t
sandCapi
t
alExpe
ndi
t
ur
ehasbe
e
nc
utdownbyashi
ghas 91
,
000c
r
or
e
.
Thi
sal
onewoul
dhav
ei
mpac
t
e
dt
heGDPt
ot
hee
xt
e
ntof0.
8pe
rc
e
nt
.
Si
mi
l
ar
l
y
,al
l
oc
at
i
onst
ov
ar
i
ousmi
ni
s
t
r
i
e
si
nt
hec
ur
r
e
nty
e
ars
howwi
dedi
f
f
e
r
e
nc
ebe
t
we
e
nt
heBudge
tEs
t
i
mat
e
sof
201
31
4andt
heRe
v
i
s
e
dEs
t
i
mat
e
sof201
31
4.
Thegr
antt
ot
heMi
ni
s
t
r
yofDr
i
nki
ngWat
e
randSani
t
at
i
onar
ec
utdownby21
.3pe
rc
e
nt
.
Thegr
antt
ot
heMi
ni
s
t
r
yofHe
al
t
handFami
l
yWe
l
f
ar
ei
sc
utdownby20.
6pe
rc
e
nt
.Thegr
antt
ot
heHous
i
ngand
Ur
banPov
e
r
t
yAl
l
e
v
i
at
i
oni
sc
utdownby41
.
97pe
rc
e
nt
,Mi
ni
s
t
r
yofHomeAf
f
ai
r
sby31
.
3pe
rc
e
nt
,Mi
ni
s
t
r
yofHRD
bySi
xpe
rc
e
nt
,Mi
ni
s
t
r
yofRoadTr
ans
por
tandHi
ghway
sby1
8.
72pe
rc
e
ntandMi
ni
s
t
r
yofRur
alDe
v
e
l
opme
ntby
22.
92pe
rc
e
nt
.
The
s
ear
ede
par
t
me
nt
sandmi
ni
s
t
r
i
e
swhi
c
hr
e
l
at
et
ot
hes
oc
i
als
e
c
t
orandi
nf
r
as
t
r
uc
t
ur
e
.Onl
yt
heMi
ni
s
t
r
yof
Fi
nanc
egr
ant
shav
ebe
e
ni
nc
r
e
as
e
dby1
8.
3pe
rc
e
nt
.The
nt
hegr
ant
st
ot
hes
t
at
e
shav
ebe
e
nc
utdownf
r
om t
he
Budge
tEs
t
i
mat
e
sof 1
,
36,
254c
r
or
et
o 1
,
1
9,
039c
r
or
e ar
e
duc
t
i
onof1
2.
6pe
rc
e
nt
.
Thi
ss
l
owdowni
nt
hemanuf
ac
t
ur
i
ngs
e
c
t
orr
e
mai
nsahugec
onc
e
r
n.Thi
sdi
r
e
c
t
l
yr
e
f
l
e
c
t
sonj
obc
r
e
at
i
on.Thee
xc
i
s
e
dut
i
e
si
nt
hec
ur
r
e
nty
e
ar
,whi
c
hwe
r
ee
s
t
i
mat
e
dt
obe 1
,
97,
554c
r
or
ehasnowbe
e
nr
e
v
i
s
e
dt
o 1
,
79,
538c
r
or
e a
r
e
duc
t
i
onof9.
1pe
rc
e
nt
.
Papering over problems
TheFi
nanc
eMi
ni
s
t
e
rhast
ake
nc
r
e
di
tf
ort
hes
t
e
l
l
arpe
r
f
or
manc
eoft
heagr
i
c
ul
t
ur
es
e
c
t
orbutt
her
e
alc
r
e
di
tgoe
st
o
s
t
at
e
ss
uc
hasGuj
ar
at
,Madhy
aPr
ade
s
handChhat
t
i
s
gar
hwhi
c
hhav
ec
ons
i
s
t
e
nt
l
ygi
v
e
ndoubl
edi
gi
tgr
owt
hr
at
e
si
n
agr
i
c
ul
t
ur
e
.
Thes
ubs
i
dyout
goonf
ood,f
e
r
t
i
l
i
s
e
randf
ue
lhasbe
e
npr
oj
e
c
t
e
dat 2,
46,
397c
r
or
ef
or201
41
5.Outoft
hi
s
,f
ue
l
s
ubs
i
dyi
sat 65,
000c
r
or
e
,f
e
r
t
i
l
i
s
e
rat 36,
970c
r
or
eandf
oods
ubs
i
dyi
sat 1
,
1
5,
000c
r
or
e
.
Thec
ombi
ne
de
xpe
ndi
t
ur
e
sonal
lf
oods
c
he
me
shasbe
e
nr
e
duc
e
df
r
om
c
r
or
ei
n201
41
5,r
e
pr
e
s
e
nt
i
ngaf
al
l
.

1
,
24,
844c
r
or
ei
n201
31
4t
o 1
,
1
5,
000

Thi
si
smuc
hbe
l
owt
hee
xpe
c
t
at
i
onsunde
rt
hef
oods
e
c
ur
i
t
ys
c
he
mewhi
c
hr
e
qui
r
e
samuc
hl
ar
ge
rout
l
ay
.
Thes
ubs
i
di
e
si
nf
ue
lhav
ebe
e
nunde
r
e
s
t
i
mat
e
dy
e
araf
t
e
ry
e
ar
.TheFi
nanc
eMi
ni
s
t
e
rhasonc
eagai
nr
ol
l
e
dov
e
rf
ue
l
s
ubs
i
di
e
swor
t
h 35,
000c
r
or
et
ot
hene
xtf
i
s
c
al
.
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2/18/14

The FMs successor is in trouble | Business Line

Thi
smov
ei
same
r
es
t
at
i
s
t
i
c
ali
l
l
us
i
ont
oke
e
pt
hef
i
s
c
alde
f
i
c
i
tl
ookopt
i
c
al
l
yc
or
r
e
c
twhi
l
ei
t
si
nf
l
at
i
onar
yi
mpac
ton
t
hee
c
onomyr
e
mai
nsr
e
al
.TheFi
nanc
eMi
ni
s
t
e
rhasagai
nhar
pe
dont
heOROP,name
l
yt
heoner
ankonepe
ns
i
on
s
c
he
meandt
r
ans
f
e
r
r
e
d 500c
r
or
et
ot
heDe
f
e
nc
ePe
ns
i
onAc
c
ount
.TheUPAGov
e
r
nme
nthasbe
e
npay
i
ngl
i
p
s
e
r
v
i
c
et
ot
hec
aus
eofde
f
e
nc
epe
r
s
onne
l
.
I
nt
hee
ar
l
i
e
rBudge
ti
n20091
0,ac
ommi
t
t
e
ewass
e
tupandi
t
sr
e
c
omme
ndat
i
onswe
r
epr
omi
s
e
dt
obe
i
mpl
e
me
nt
e
d.Butt
hegr
i
e
v
anc
e
sr
e
mai
ne
dast
heappr
oac
hwashal
f
bake
d.Agai
nt
heFi
nanc
eMi
ni
s
t
e
rhaspr
omi
s
e
d
t
hatt
hi
sc
aus
ehasbe
e
nc
ompl
e
t
e
l
yaddr
e
s
s
e
di
nt
hi
sBudge
t
.The
r
es
houl
dbenoat
t
e
mptt
opl
aywi
t
ht
heas
pi
r
at
i
ons
ofourAr
me
dFor
c
e
s
.
Ev
e
nt
hought
heVot
e
onAc
c
ounti
sonl
yf
orape
r
i
odoff
ourmont
hs
,t
he
r
ear
es
e
r
i
ousc
onc
e
r
nsont
hegr
owt
hr
at
e
,
r
e
alf
i
s
c
alde
f
i
c
i
t
,i
nf
l
at
i
on,i
nv
e
s
t
me
ntandt
hes
l
owdowni
nt
hemanuf
ac
t
ur
i
ngs
e
c
t
or
.
Thes
t
abi
l
i
t
yoft
her
upe
ei
samat
t
e
rofc
onc
e
r
npar
t
i
c
ul
ar
l
ybe
c
aus
et
her
upe
ei
t
s
e
l
fhasr
e
ac
he
dunac
c
e
pt
abl
yl
ow
l
e
v
e
l
s
.
Toc
ompe
ns
at
ef
oral
lt
he
s
edr
awbac
ks
,t
heFi
nanc
eMi
ni
s
t
e
rhadt
ol
e
anbac
konl
ar
ge
rs
l
oganss
uc
hashi
s
I
de
aof
I
ndi
a
.
Obv
i
ous
l
y
,i
nani
de
ol
ogi
c
al
l
ypl
ur
al
i
s
t
i
cs
oc
i
e
t
y
,t
he
r
ec
anbemor
et
hanone
I
de
aofI
ndi
a
.Noonec
anus
ur
pt
het
i
t
l
e
ofabookandc
l
ai
mi
tonl
ybe
l
ongst
ohi
m.
Theque
s
t
i
ont
obeas
ke
dt
he
ni
s wi
l
lt
heFi
nanc
eMi
ni
s
t
e
rs
e
r
i
ous
l
yi
nt
r
os
pe
c
tont
hel
e
gac
yhewi
l
ll
e
av
ebe
hi
ndf
or
t
hene
xtFi
nanc
eMi
ni
s
t
e
r
?TheFi
nanc
eMi
ni
s
t
e
rwi
l
lbear
e
l
i
e
v
e
dmant
oday
.Hi
ss
uc
c
e
s
s
orwi
l
lbei
nt
r
oubl
e
.
Thewr
i
t
e
ri
st
hel
e
ade
roft
heOppos
i
t
i
oni
nt
heRaj
y
aSabha
(This article was published on February 17, 2014)

Ke
y
wor
ds
:Vot
e
onAc
c
ount
,Chi
dambar
am,UPA,NPA,GDPgr
owt
h,f
i
s
c
alde
f
i
c
i
t
,c
api
t
ale
xpe
ndi
t
ur
e
,f
ood
s
e
c
ur
i
t
y
,

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