I think India is not likely, actually, to sustain the sorts of rates of growth it hopes for. As I'm sure you're aware, for Indians the competition with China is immensely important. There's a tremendous concern that the Indian economy should be growing at about the same sort of rate as the Chinese economy. The Chinese, of course, aren't remotely bothered about the Indian economy, but the Indians certainly are. It's really unlikely that those sorts of rates of growth are going to be sustained.
It will be interesting to see later today, when Mr. Chidambaram makes his budget speech, whether there are clear signs of the tackling of tax reform and of how he's proposing to deal with the long-running problem of the level of subsidies that are paid out by the Government of India, which mainly benefit somewhat wealthier people rather than poorer people.
He's made commitments already to cash transfer programs that should be attractive in terms of getting the Congress government re-elected in the elections next year. I don't personally think it's likely that the long-running problem of fiscal deficits in India is going to be tackled any time soon. I think that is always going to be a serious constraint upon sustaining high levels of growth.