War of words: The sequel

Some would like to believe that the controversial report of the Public Accounts Committee (PAC) on the 2G telecom scam is a closed chapter, but PAC chairman Murli Manohar Joshi has dug in his heels and refuses to turn the page. It is clear that Joshi would like nothing better than reopen the discussion on his report, which has already raised a lot of political ruckus.

Obviously, Joshi's second stab at pushing the report is bolstered by the support he has now mustered from unlikely new allies ufffd the Samajwadi Party and Bahujan Samaj Party.

The Congress, meanwhile, is in no mood to oblige the BJP leader. The politics on the PAC report clearly is increasingly tinged with the thought of approaching elections in Uttar Pradesh, which in Dilli is seen as the reason behind Mulayam Singh Yadav and Mayawati's turnaround on the issue. Joshi has now threatened to consult experts and will try to push it down the throat of the newly reconstituted PAC. Clearly, this is a battle of attrition, but may yet manage to spring a surprise. Dilli is watching.

Monsoon malady
Better monsoon forecasting does not necessarily bring good news. In the revised forecast issued recently, weather pundits expect the quantum of expected rainfall to be lesser than the initial prediction made in April. A less than normal monsoon and inflation poised to climb into double-digits after the hike in diesel and kerosene rates is a double whammy of sorts. Though no one's pushing the panic button yet, it should exercise the minds of policymakers and economists who hope growth to kick into the higher registers.

Clearly, therefore, the mood in Dilli is cautiously optimistic, hoping the pressures on the agricultural economy will not be as aggravated as thought.

But while scaling down the monsoon forecast to 'below normal' may be just sarkari prudence, the real challenge would be to contain food inflation to a single digit in the months ahead.u00a0