In New Delhi they say the stock market is booming because there is no government to drag it down. There is some truth behind the facetiousness. The Vajpayee administration's failure to carry through any meaningful reform and its hamhanded bailouts of badly-run industries and the US-64 fund of the UTI have made investors jittery. That is why recovery will wait for good government - and why elections which give us a chance to vote in a better regime are a good idea after all.