Macroeconomic priorities for new govt

It will have to contend with some key challenges that do not figure in the election manifestos

With the National Democratic Alliance (NDA) government completing its five-year term and elections under way, it is a good time to outline what should be some of the macroeconomic priorities for the new government, whether NDA (as seems likely) or some Congress-centred coalition. The economic record of the last five years has been mixed, ending on a somewhat weak note and entailing substantial challenges for the incoming government, especially in the context of a weakening global economic environment.

Consider the following:

• Even the official 2011-12 base national income data (which has suffered its due share of professional questioning) show a growth slowdown