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The case for the defence

机译：辩护案

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The smog is so bad in Delhi right now that it seeps indoors. In one government building the far end of the corridor seems hazy. But the view of the mandarin working there is clear: India's economic miracle is not over, regardless of the chatter among investors and howls about government paralysis from industrialists. He pokes fun at the latter. A year ago they were swanning around Davos proclaiming India could grow in its sleep, he says. Now, with growth dipping to 6.9% last quarter, from a peak of 10% (see chart), they are pleading for government action. Bears in Mumbai, India's financial capital, worry that gdp growth might slip below 6% as confidence and investment slip. That partly reflects global woes, and partly too the gumming up of the bureaucracy due to a wave of graft allegations. But it is also because no big reforms have taken place for years; and such is the dire state of India's politics that it is hard to imagine any being imminent. Things reached a nadir at the end of last year when the ruling coalition announced it would allow foreign supermarkets into the country, only to do a u-turn in the face of protests from the opposition and its own coalition partners. Shortly afterwards it failed to carry a key anti-corruption bill through parliament.
机译：现在德里的烟雾非常严重，以至于它渗入室内。在一个政府大楼中，走廊的尽头似乎朦胧。但是，普通话在那工作的观点很明确：印度的经济奇迹还没有结束，无论投资者之间的chat不休和工业家对政府瘫痪的呼啸声。他嘲笑后者。他说，一年前，他们在达沃斯四处游荡，宣称印度可以在睡眠中成长。现在，随着上一季度的增长率从10％的峰值（见图表）下降至6.9％，它们正在呼吁政府采取行动。印度金融之都孟买的空头们担心，由于信心和投资下滑，国内生产总值（GDP）增速可能下滑至6％以下。这在一定程度上反映了全球的困境，在一定程度上也反映了由于一系列贪污指控而导致的官僚主义困境。但这也是因为多年来没有进行过大的改革。印度的政治形势如此严峻，很难想象会有任何迫在眉睫的事情发生。去年年底，当执政联盟宣布允许外国超级市场进入该国时，事情达到了最低点，只是在反对派及其本国盟友抗议的情况下才掉头。此后不久，它未能通过议会通过一项重要的反腐败法案。

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    《The economist》 |2012年第8766期|p.61-62|共2页
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