How ‘Houdini’ Chidambaram can fix the economy

.....To make Subbarao’s job that bit easier, or perhaps to provide him an incentive to loosen up, Chidambaram has made some feel-good noises to suggest that he will keep up his end of the bargain by reining in the twin deficits and simultaneously provide the triggers for investment-led growth. But how can Chidambaram go about achieving this in a drought year, when spending will have to be stepped up, and with less than two years to go for the general election, in the run-up to which too spending on programmes calculated to keep rural voters in good humour will be stepped up?........

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