Despite being less than 9 months away from the general elections, Central government in India has not resorted to the much anticipated populist decision of reducing taxes on petroleum products. This might not be the best political move, but it is definitely a matured policy stand in terms of handling of economy.

In the summer of 1998, India conducted its second nuclear test, nationalist sentiments were running high all over the country. BJP led government at the center was hailed for the bold step, it was natural to assume that the party’s popularity was at all-time high. However, within 6…