The Key Areas
- Investors want clarity on tax issues, clearances. Manufacturing share must go up to create jobs, promote exports.
- He’s promised better infrastructure in neglected regions, so will have to ensure speedy implementation of good projects
- Many financial sector reforms need urgent focus to streamline revenue stream, improve ease of doing business
- Social development for inclusive growth needs resources, better governance to ensure services reach underprivileged
Don’t expect any miracles in the first 100 days of the new government. That may be a bit of a letdown to the millions who voted in the Narendra Modi-led government but his advisors stress that people will have to be realistic, consider at least a time horizon of two years for any reforms to deliver—there are simply too many governance issues that need to be tackled first.
This underplaying of matters is natural, given the extent of the expectations....