Time for elections

A dismal year has ended appropriately — with a fiasco in Parliament; the only reform measure of the year stuck in limbo; the stock market down 24 per cent; the business mood at its lowest ebb in years; the weak rupee signalling the gathering storm clouds of external vulnerability; and key economic indicators spelling Trouble with a capital T. If 2010 was the year of scams (or the unearthing of scams), the compensation was that the economic news was better than in the two previous years. Now you can scan the horizon and spot just one piece of good news — food prices.

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