Darkness before dawn or night eternal?

The FDI decision was a false signal that the UPA-2 may have found its reforming zeal back. The manner of its withdrawal showed a Congress which is fearful of survival and wants to be risk-averse till May 2014. Or at least until after the UP elections. The world has read the signals and has begun to abandon India as a preferred region for investment and so have the Indians. The Sensex may have bounced back from its lowest but that is not a permanent turn around. The rupee shows what the prospect is.

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