A view from the Mint Street (Ashok V. Desai, South Asia Monitor)

The budget was nothing to write home about. The ritual debate on it has died out. While the chief economic adviser wrote an inspired first volume of the Economic Survey brimming with bright ideas for new reforms, it was all Greek and Latin to the finance minister, who ignored it in his budget. From his high-altitude throne in Mumbai, the Delhi scene must look pretty flat to the governor of the Reserve Bank of India. If he had been his own master, he would have gone off to Lofoten in Norway and dived into the Arctic ocean. The air temperature there is freezing, but the sea temperature is five degrees centigrade because of the Gulf Stream. So divers there prefer to stay underwater.

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