For example, both parties have talked about the need for a Fiscal Responsibility Act to contain fiscal deficit. Subsidies will be implemented in a manner so as to maximise benefits to all section of agricultural population.

Similarly, the NDA manifesto has fixed an FDI target of $10 billion per annum while the Congress manifesto put the figure at $8-10 billion. On GDP, both parties have promised a 7-8 per cent growth per year. And, both parties agree on the need for spending 6 per cent of the country's GDP on education will achieve this.

The NDA manifesto which was released by Prime Minister Atal Bihari Vajpayee on Monday has also pledged to reappraise and revitalise the economic reforms process, and work towards controlling fiscal and revenue deficits. The Congressmanifesto also basically talks on the same lines.

The NDA also promises to give a Swadeshi thrust to the national economy, calibrate the globalisation process and discourage FDI in non-priority areas.

The manifesto is, however, significantly silent on the crucial question of opening of insurance sector to either foreign or Indian private sector companies.

As far as industry is concerned, the manifesto promises to review all laws and regulations to free the former from bureaucratic control; institute a system of voluntary compliance with laws, including tax laws; ensure speedy redressal of industrial sickness; arrange for meaningful interaction between industry and government; and revive the capital market as a viable and transparent mechanism for raising capital. The manifesto also talks about expediting comprehensive reform of the PSUs, including restructuring, rehabilitation and divestment.

The alliance promises to carefully analyse the effects of globalisation, calibrate its process by devising atimetable to suit the national conditions and requirements "so as not to undermine but strengthen the national economy, the indigenous industrial base and the financial and services sectors."

The manifesto says that efforts would be made to increase national savings to 30 per cent of the GDP in the next five years through appropriate incentives. FDI will be encouraged in core areas so as to supplement the national efforts. The government will also strive for accelerated development of infrastructure, particularly energy and power production.

On the populist front, the manifesto promises to remove unemployment, eradicate poverty within the first decade of 21st century, create a hunger-free country in the next five years, ensure potable drinking water to all villages and facilitate construction of 20 lakh additional housing units every year. Also, a National Housing and Habitat Policy will be evolved to provide housing for all.

For the development of the rural sector, the manifesto pledges to earmark 60per cent of the Plan funds towards agriculture, rural development and irrigation. It also promises diverse incentives, including tax shelters to achieve a quantum leap in agricultural production as also in horticulture, forestry, food processing and fisheries sectors. Effective crop insurance scheme will be introduced and special efforts would be made in animal husbandry and the dairy sectors.