The ruling Congress Party and its UPA coalition is about to have their reformist mettle tested in one of the least forgiving arenas in contemporary democracy: the Lok Sabha. fearful symmetry feels that the winter parliamentary session, which runs from Thursday 22nd of November to Thursday December 20th, is crucial to India’s near and medium term growth prospects. It will influence the near term through its influence on capital flows, which in turn drive the investment cycle. The medium term story is similar but projected onto a larger canvas. Without a regeneration of productivity growth hrough supply side reforms, with imported capital and technology playing a central role, India’s hopes for high single digit growth and mid single digit inflation through the middle years and latter half of this decade will not be fulfilled.
