The weather changed on Friday and it started raining reforms! A few from bygone decades saw it as a sequel of 1991 block buster. Plot was well set; monsoon session of parliament washed out, hero was marred with scams and corruption and it was a do or die situation. And, we saw a comeback of a macho; he walked in the frame and played his master strokes – back to back! Hike in diesel price and subsidy cut on LPG, both may be a tough but necessary step to stabilize falling economy. Next day saw more affirmative and for lack of words I would say mesmerizing calls, FDI in Multi – brand retail and aviation industry, and disinvestments. What was even more beautifully done was provision inclusion in single brand retail. Market agreed to the move vehemently with stock soaring high and rupee strengthening. It was a day which went like a dream and left us with a good weekend to celebrate the shower of a Good Friday.
He definitely has had a couple of sleepless night before taking that call. After all, it does look more like a march to martyrdom at first, but did we forget we were dealing with a smart man here. He might have been silent but definitely not moot. He got his formulae correct and words precise. A smart move to leave it on the states to make a localize call when they know that change is inevitable. Now, it is garibup to them whether to give in to the change or sit back and see other states going up, and eventually their own voters asking them why they were kept down.
Oppositions are up but it doesn’t look they will pull the trigger on government this time, after all plot was well set. Bengal is waiting for its own placating package from centre, didi can’t buzz much. Opposition which was crying loud on coalgate till yesterday is not sure which way to go now – stick with their old agenda or bring new one; they will oppose FDI now but finally government will succeed in diluting opposition on both fronts.
Though it was a great Friday, I hope party in not over yet! Tomorrow RBI can top it up with rate cuts and Manmohan government while at it can just add a little more flair by bringing in agricultural reforms and food security bill. Subsidy cut needs to follow up with farmer remuneration rise in some way. With twenty months left for coming election, the government would want to move fast so that these seeds which they are sowing can give benefits at the right time.
So buckle up to fly Air Asia or who knows may be Emirates on domestic routes and to shop at a Wallmart or Tesco which will be playing “Son of Sardar…” !