In view of analysts at ANZ, for the Indian economy, after an emphatic election victory last week, the success of Prime Minister Modi’s second term in office will be contingent on the pace and effectiveness of reforms.
Key Quotes
“A unanimous mandate has paved the way for the ruling coalition to push ahead with more contentious reforms, some of which have remained elusive.”
“We look at the broad thrust of reforms that the new Indian government can focus on in its second term. These have become particularly crucial in the present context of a broad-based slowdown in growth.”
“Although some reforms are already underway and need to be followed through (like direct income benefits, streamlining the goods and services tax and further FDI liberalisation), others require more solid intent, including on land ownership, labour reforms, and consolidation of public sector banks.”
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