The Fall of the Holy Trinity
UPA govt's economic team had raised the hope that it will go ahead with economic reforms. But it failed to live up to expectations.
Future historians will, no doubt, applaud Dr Manmohan Singh for his contributions to building a modern economy as finance minister and to freeing India of nuclear apartheid as prime minister. But they will also record the setback to reforms during his tenure as prime minister.
The National Democratic Alliance (NDA) had contested the general election in May 2004 on a pro-reform platform. Therefore, many in the Congress interpreted its defeat as the rejection of reforms by voters. Prospects for reforms under the incoming Congress-led United Progressive Alliance (UPA) looked bleak.
The National Democratic Alliance (NDA) had contested the general election in May 2004 on a pro-reform platform. Therefore, many in the Congress interpreted its defeat as the rejection of reforms by voters. Prospects for reforms under the incoming Congress-led United Progressive Alliance (UPA) looked bleak.