Reforms go into deep freeze as UP elections loom large

Having put off FDI in retail, the UPA government is likely to postpone some more reform steps until the Uttar Pradesh Assembly elections are over in April. The crucial elections have become the new alibi for deferring a host of reform measures including disinvesting public sector units (PSUs) and letting foreign airlines buy stakes in domestic carriers. This virtual freeze on reforms is akin to the one that preceded the West Bengal elections, which saw the land acquisition policy in cold storage for fear of a backlash from the Trinamool Congress.

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