Finally, fallout from the East Asian economic crisis is increasingly impacting on India. Earlier this week, India's Finance Minister Yashwant Sinha felt it necessary to publicly rebuke critics who have suggested that a shortfall in government revenue will force India to turn, as in 1991, to the IMF for emergency assistance. The Congress leadership calculates that it is to its advantage to keep the BJP in office until the economic situation becomes acute, so that its rivals reap the public blame for the crisis. On the part of the union bureaucracy, the strike is a political stunt aimed at covering up its complicity and that of its political allies in carrying out the restructuring demanded by international capital. The privatisation program was initiated by the Rao Congress government and was continued by the Stalinist-backed United Front coalition.
Fascistic movement plays critical role in India's ruling coalition.
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