Second, on the economic front, there are no comparable gains. P Chidambaram can draw comfort from withstanding pressures of fiscal profligacy or reversing tax reform and securing universal acceptance of VAT. But reforms of financial sector, pension and insurance, as well as liberalisation of FDI flows, remain mired in coalition politics. While he still remains the most acceptable reform face of the Government, it is not surprising that in the India Today rating, he has slightly gone down. In fact, his decline would have been faster except that expectations from his liberal pronouncements continue to remain high.

Third, the opening of Indian skies has dramatically improved air connectivity. Cut-throat competition on air fares, commencement of privatisation of Delhi and Mumbai airports, with promise to replicate this for other airports, rightly makes Praful Patel a high performer. The agenda of civil aviation reforms is however far from over. A policy has been on the anvil for over a year which will rationalise the burden sharing on non-commercial routes and a credible regulatory structure for level-playing field awaits legislative approval. Training and skill inculcation, particularly for regulators and traffic controllers in managing congested skies with high safety, remains a challenge.

Fourth, navigating an energy policy which combines long-term energy security with affordability remains elusive. Inability of states to reform their electricity sector stalls progress in reaping the benefits of the Electricity Act, 2003. The endemic problems of the coal sector dent any effort for a coherent energy policy. The flip-flop on petroleum pricing leads to confusion. The current high oil prices are not transient aberrations. While revenues from this sector have traditionally been disproportionate, in the end, its inflationary impact notwithstanding, there is no escape from passing on the burden to consumers. In the long run, this will conserve energy and incentivise investment in alternative energy forms. Murli Deora can improve his overall score in the survey if, coupled with oil diplomacy, practised with great aplomb by his predecessor, he can tackle the politics and economics of oil pricing.

... contd.