Nobody really expects “collective maximum performance” from the United Progressive Alliance (UPA) but the Congress Party-led coalition government would have fulfilled more than half its promise to voters if it can implement the core elements of the Common Minimum Programme (CMP). Considering the ideological diversity of the Congress, not to mention the UPA, the fact that a CMP has been drafted within a week augurs well for the future.
The differences on issues like foreign direct investment are more rhetorical than real. It is not as if foreign investors are rushing to come in. If the Left Front will allow at the national level, a policy it is seeking for West Bengal on FDI, that in itself should help bring in more investment than has been the case so far. In any case, the core of the CMP is not about FDI and external policy. It is about domestic reform, about increasing investment at home, both private and public, and about governance reform. If the government can create an investment-friendly environment, encourage more Indians to invest in India, and sustain upwards of 7 per cent growth, foreign investment will come on its own.
Going beyond economics, the CMP has other important ideas that deserve consideration. The repeal of POTA, the constitution of a States Reorganisation Commission and a new thrust on administrative reforms. This election was about governance and that is where the electorate wants the CMP to deliver some action. There is also an urgent need to modernise education, after the damage inflicted upon higher education by Murli Manohar Joshi. If the UPA can deliver on promises on health, education, agriculture and infrastructure, few will worry if there has been or not been disinvestment! In any case, the final formulation on disinvestment and privatisation leaves enough scope for some forward movement on this front. Public policy will have to focus on the generation of jobs in a fiscally sustainable way, rather than distribution of shares alone. The CMP’s assurances on priorities in foreign policy and national security policy are also along correct lines and indicate a degree of continuity in policy that should be welcomed abroad. While a CMP gets a lot of attention at such times, in the end people will judge the government by what it does, not what it promises to do. That, anyway, was the message of Election 2004.