The way Prime Minister and later Finance Minister Pranab Mukherjee cautioned the industrialists in the meeting of PHD Chamber of Commerce and Industry about their views on the Central government for not being forthcoming in developmental activities. Although Prime Minister and Finance Minister may not have liked the observations of India Inc and their organizations on the functioning of the government from time to time but they are not in a situation to claim that judicious steps are being taken in the economic affairs. In the given situation, any such claim would not only be against the facts but also be farcical, because it is believed in the national and international industrial forum the pace of Indian economic reforms has been slowed down. A segment of International media appears to be more confused. This is unexpected because the UPA government seems to be directionless in its second tenure. Whatever claim is being made for the commitment towards economic reforms, the reality is that significant economic decisions are still pending. The winter session of the Parliament is to end but the long list of pending bills is yet to stop. This is also a fact that negative attitude of the UPA allies and the opposition is also against the pace of economic decisions, however the Centre’s sluggishness is equally responsible for it. If the government backtracked on the FDI in multi-brand retail, it is also answerable shameful to the ruling party and its allies as well. Why did it fail to take its own allies into confidence prior to taking such a significant step.

The government can blame the opposition parties for hampering economic reforms only when its own alliance partners would have stood by it. While the fact is that the Pension Fund Regulatory and Development Authority Bill, 2011 are being withdrawn only because of the Trinamool Congress which had earlier foiled the decision on FDI in multi-brand retail. The government is directly responsible for delay on the amendment bill of land acquisition law, similarly the bill on Judicial Accountability is yet to progress? It is strange that the government has shied away from introducing a few bills in the current session of the Parliament. The problem is related to only pending bills on economic issues but also the lack of coordination between the different ministries. The pertinent issue over the decision on Ministries of Mines and Environment is yet to take shape. The GoM constituted on this matter is yet to resolve the issue which has not only affected coal supply but also checked electricity production. The sluggishness on part of the government has also affected the mining industries. If the government is not inert in the policy matters, why it has to assure the industrialists that pace of economic reforms would be accomplished by March next year?