There may be all sorts of subtle issues at work here that are impossible to understand at a distance, but this NYT story suggests that the stock market collapse is the reason that Sonia Gandhi has decided not to claim the position of prime minister of India.
“Today’s development came after the country’s stock market recorded a huge single-day fall on Monday, amid concerns over the new government’s approach to economic reforms. Investors feared that economic reforms could be slowed or halted because of pressure from the left.”
