The invincibility of Narendra Modi has been shattered, as his allure in the eyes of the common man has dimmed considerably having been rebuffed in Chhattisgarh, Rajasthan and Madhya Pradesh. Rahul Gandhi has arrived on the scene, much more matured and has staked his claim to be the next Prime Minister of India with a resounding performance by beating the incumbent BJP in the three States despite the incumbency advantage and BJP having wielded money and muscle power that was rejected by the people of India. Mamata Banerjee’s address to the nation that an economic emergency should be clamped down in India is an ominous sign that the much touted economic revival of India is just a myth with the Public Sector Banks and the Public Sector Units having shown drastically downward trend in profitability. Even Urjit Patel’s submission of resignation as the Governor of the RBI, nine months before the end of his tenure is an indication of his dissatisfaction at the way the government has been forcing the RBI to play to its tunes and sends the clear message that all is not well in the financial management of India. The drastic fall of the stock market in India too has sent shivers down the spines of the Foreign Institutional Investors (FIIs) and as Christmas time approaches it seems that a net outflow of foreign investment will soon follow. Besides on the day of counting the rupee depreciated a massive 110 paise, before recovering partially, portents of bad times to come. Rahul Gandhi can calm the economic fears by announcing economic measures henceforth that will bring in much needed accountability and responsibility coupled with much needed integrity that is lacking. It seems as if Narendra Modi’s role as a good orator, short on action for the benefits of the masses is now coming to an end. India needs the steady Hand to guide it flailing fortunes.
Steady Hand needed to guide India
