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thrust of the new government's thinking wasn't a secret so
there's little here that will cause shock
waves. It's an even-handed approach
- trying to encourage foreign investment and a thriving
private sector. But also promising greater investment in social
policies, particularly education and a safeguarding
of workers' rights. These are gestures of support for the millions
of rural poor who feel excluded from the economic
boom. It promises continuing high growth rates and further
reform of India's considerable red tape.
But it says it won't privatise profit making state-run
companies, like government banks and oil companies.
Congress is heading a broad coalition with disparate
views. It needed a compromise - a plan that would reassure the
business community that it certainly isn't abandoning economic
reform even if the pace is slower.
But at the same time, it's trying to please the bloc of leftist
parties, calling for much more to be done to support the poor.
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main thrust: main idea
shock waves: very strong reactions
even-handed approach: an even-handed
approach is fair to everyone
thriving: if something is thriving
it is strong and healthy
safeguarding: protecting
economic boom: dramatic growth
in the economy
red tape: unnecessary bureaucracy:
rules and procedures that slow business down
state-run companies: companies
owned by the state
disparate: very varied, very
different
pace: speed
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