UPA is its own enemy

As confidence in the economy plunges to new lows, Prime Minister Manmohan Singh took the unusual initiative of addressing Parliament. The point of note was not what he said, but the fact that he spoke at all. Singh sketched a picture of a common crisis facing all emerging economies as capital flows reversed direction after the US Fed's indication that it would taper quantitative easing, and also of tensions and uncertainties on Syria spilling into domestic oil prices. 

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