How India slid into the morass

The first wake-up call for the United Progressive Alliance (UPA), keen to shower entitlements on an India it believed was not Shining, came in early 2007. Food grain prices started shooting up. Received wisdom places the start of the food price spiral a year later, but grains went up 15 per cent and all foods by 11 per cent in 2007. I had addressed a farmers' meeting in April 2007 on ABCD (atta-besan-chawal-daal) inflation. 

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