Has UPA 2 failed the economy?

It's been exactly a week since the Union Budget was presented. The budget that was being seen as this govt's last big opportunity to turn the economy around after a year when everything that could possibly go wrong did go wrong with high inflation and interest rates, and falling markets and the rupee. So did coalition compulsions prove too much? Even the Prime Minister admitted this week that tough decisions were hard to take in a coalition. To top it all, the rail fare hike also had to be rolled back.