Deep Point

It's clear that people have given a mandate against the neo-capitalistic economic reforms carried out by the various governments for the last 14 years. The new breed of Indian bourgeoisie who run 'yatras' on the infromation superhighway(that includes me to an extent), have convinced themselves that they are the voice of India. Wrong. The rest of the people in India just spoke otherwise. From the posts I read, this still has not been a sufficient jolt to shake the netizens out of their deep somnambulism. The media, was elated about the economic prosperity which was very much like the emperor's new clothes for the common man. The commentary in the Telegraph(UK) about the Indian elections was poignant.
""India Shining" shed its rays only on that sector of the population that was epitomised for the West by software outsourcing and call centres in states such as Karnataka and Andra Pradesh. For the nearly two thirds of Indians who live off the land, among whom Mrs Gandhi campaigned vigorously, little had changed under BJP rule. Their prime requirements are running water, electricity and jobs. Lacking those, they used their votes to remind New Delhi and the wider world that development in their country is very uneven."

The show of the left has been impressive, though it can attributed to regional issues and disillussionment with their rivals. Even the most optimist among the leftists would have not expected such an outcome. They are all set to share power with the Congress. What does this situation mean to India and its future? One fact is certain - economic reforms over the last 14 years cannot be reversed. They could be slowed down though and that's what the left would like to do. More spending would mean more taxes and the less fiscal discipline. More taxes aren't totally a bad thing in my opinion. Higher income tax on the salaried class was Yashwant Sinha's approach. That is still the sane thing to do.

Another ministry the left would be looking at would be HRD. Murali Manaohar Joshi had started the process of saffronizing NCERT and all the educational institutions in the name of national pride. That will be reveresed. I even expect Romila Thapar, the historian Sangh loves to hate will be given the protfolio. And with scant presence of the Sangh ideologues in the parliament, this will not atract attention. This will piss NRI's off because they are the most in need of this 'national pride' thing.