![]() |
|
New Delhi's New Majority Michael Ubaldi, May 18, 2004.
In watching news of India's unexpectedly successful Congress Party progress over the past week, my attempts to discover what the party's platform actually is — and what their oft-referred-to "reforms" consist of — were unsuccessful. It turns out that on the other side of the world, "left wing" might still mean "progressive": With most of Congress's coalition partners and outside supporters coming from left-wing parties, investors are concerned that Congress might reverse some of the key economic reforms of the past decade. Some of these initiatives include lower import tariffs; tax breaks for foreign investors and Indian business houses; sell-offs of state-owned industries, hotels, and utilities; and cutbacks in bureaucratic regulations.
|
|
![]() |