Economist Dr.Manmohan Singh led UPA 2 had miserably failed in all front of governance including his pet job handling economy, that is the message SWAMINOMICS has also confirmed, while focusing on the basic failure of political mismanagement in decision making.
The political setup of this government has completely lost the trust of not only the investors, but much crucial the administrative central executive wing. His analysis on the mismatch on the trust and harmony between the policy maker politicians and the implementing executive, was a sad story of worst outcome as revelled here.
"Politicians make policy, bureaucrats implement them. Trust and harmony between the two can produce amazing results. If trust and harmony decline, so do decision making and economic performance.
Bureaucrats can function brilliantly if they get clear signals from their political bosses, and assurance that being decisive (which typically includes short-cuts through a jungle of rules) will further their careers. This explains success in states as varied as Bihar, Gujarat, Madhya Pradesh, and Chhattisgarh. Strong chief ministers with clear policies empower bureaucrats to implement those approaches.
But the same bureaucrats freeze into inaction when they receive mixed signals, as has been the case in New Delhi. The law today makes bureaucrats liable for corrupt outcomes even if there is no evidence of their benefiting personally. If political protection is not guaranteed, they stop moving files. Finance minister Chidambaram says, rightly, that India’s problem is implementation paralysis more than policy paralysis."
One may reasonably argue that "the bureaucracy has gone through four phases since 1991. In 1991-2004, bureaucrats got the signal “what do we liberalise next?” In 2004-08, this changed to “don’t liberalise more.” After 2009, the signal was “what do we regulate next?” After the anti-corruption anger in 2012, this changed to “run for cover; nobody can guarantee you safety.” This explains the rise and fall of the economy. A fifth phase is needed to lift the economy again ".
INDIA HONEST summarise all this above analysis and come to the conclusion that though UPA 1 was a carry forward of Vajpayee led NDA's economic upsurge, but by the time in 2009 the UPA 2 was formed, the Congress has been modified both internally and externally , having secured unprecedented seats, as it has become boastful and arrogant .
Now corruption scams were free and fluent and the opposition were hungry for the blood of Congress leadership, while neither the Sonia Gandhi nor Rahul Gandhi was willing to come forward to take charge of the sinking ship of UPA 2 and stabilise the broken moral of at least the efficient and honest bureaucracy that had become completely frustrated and effectively defunct.
Even the Congress president Sonia Gandhi could not stop her party ministers from playing black coloured "Corruption Holi", while the allies ruled the roost in open 2G , Coalgate..... scams.
IH feels that the Congress led last decade rule has been the worst economic period in last several decades, it has broken the back of India, who was once regarded as the best performing nation among the BRICS group of nations, and it will take huge efforts by the incoming government to put the economy back on rail.