A good thing about the stock exchange is that it has virtually insulated itself from the central bank’s monetary policy. Whether the PLR is raised higher or cut lower, the Sensex keeps marching on its own trajectory. Marketmen are busy playing the market, such is the robustness of faith in the future of the economy. We might feel bold enough to assert that given a modicum of professional management of the Finance Ministry the inherent growth potential of the Indian economy is bound to be realised — sooner than most people may believe. Despite often a broken polity, a highly confrontationist Opposition and the usual complement of nature shocks such as floods and droughts, etc., in recent years economic growth has come to easily surpass the early decades of the Hindu rate of growth. Now, a 6-plus percentage growth seems to........

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