July 9, 2012

TIME rates Manmohan Singh as 'Underachiever'

Indian Prime Minister Manmohan Singh, who is very often lauded for his pivotal role in liberalising the Indian economy, has been termed an “underachiever” by a US magazine. 

The TIME magazine says that Dr Singh's unwillingness on reforms will put the country back and its economy will suffer again. He has been featured on the cover page of the magazine's Asia edition, which will be out next week, with a title that reads: "The Underachiever — India needs a reboot". 

A report in the magazine titled ‘A Man in Shadow’ asks, is India's PM Manmohan Singh ready to face the challenges of a slowdown in economic growth after the continuous fall in rupee? 

The UPA coalition government led by Dr Singh is involved in corruption scandals and accused of showing interest to bring economic reforms. The magazine says, "Investors at home and abroad are beginning to get cold feet. Voters too are losing confidence, as rising inflation and a litany of scandals chip away at the government’s credibility”.  

The magazine says that Dr Singh's confidence has been absent in the past three years. He seems unable to control his ministers. The leader, who is holding the temporary portfolio Finance, is unwilling to bring reforms when its domestic currency rupee is struggling to gain against US dollar. 

“Now that [Dr.] Singh is interim Finance Minister as well as PM, he has greater scope and a fresh opportunity to turn things around — but it’s by no means certain that he can,” Time says.

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