Delayed reaction

Prime Minister Manmohan Singh’s address to the nation last Friday raises three important questions. One, why did the government wait so long to do what it did on September 13 and 14, since the parlous state of the economy was evident for quite some time to everyone including even Dr Singh? Two, how fair is the comparison between the current economic situation and what prevailed in 1991? And three, if this is not the time for easy options, what scope or opportunity does the government have for the hard options that Dr Singh said were necessary now?

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