I am having a feeling that Ponting is flustered by India's batting display in the first innings, and isnt sure of what target to set for them. Even though India are not good going for the draw or chasing in the 4th innings, to me he seems to be trying to be careful. Both these batters are not taking any urgency measures and the scoring rate is moving at regular test match pace.
I feel India are also bowling well and tight to deny easy hits. I feel India could draw it here if they are set a big target (if it comes to one!). One or two balls spite off the pitch but nothing great. May be the rain has affected the true nature of a Day 4 & Day 5 pitch.