India: Judging the new government

Overview

The new Indian National Congress-led coalition that came to power last month will aim to maintain the focus on “inclusive growth” that it believes underpinned its election victory. Economic reforms will continue, but not at the pace that markets expect. The government’s ministerial appointments reflect the desire to see progress on reforms balanced by efforts to maintain equity in implementing change. However, improvement is perceptible in the quality of ministers in charge of certain...