UPA government in India will have lot of politicking to do in the recent future. I expect Sonia Gandhi to be on tenderhooks for sometime because of the recent bunglings in different states. Laloo is certain to give her sleepless nights. Jharkhand and Goa are gone atleast for the moment. Her plan to unseat Mulayam in UP will be all the more difficult. Trouble is brewing in Congress/UPA in Haryana, Tamilnadu and Pondicherry. Elections are due in 2006 in Kerala and West Bengal where its Congress vs Left. So one expects the Left to rock the government as much as possible. Good luck! But there are things which I wish Manmohan Singh achieves in this fiscal. Now as the Jharkhand episode shows that he is quite helpless in politics, he should atleast deliver on the economy.
1. Go ahead with banking reforms. Let there be mergers and Acquisitions.
2. Restructure PSU's by mergers. BSNL and MTNL, Indian Airlines and Air India, all oil PSU's into two oil giants etc. Pull out of Maruti.
3. Concentrate on employment generation. Textiles and tourism could be the prime areas. With Quota restrictions gone, India can make a killing in Textiles.
4. Enhance tax collection and meet the revenue and fiscal deficit targets at the end of the year.
5. Ensure smooth privitization of Pension and provident fund schemes.
6. Ensure Doha round of WTO negotiations don't go the Cancun way. i.e we achieve something instead of only shouting at the West.