Modi’s Reformed Momentum Has Finally Reached a Wall in India

Meanwhile, reforms to improve capital allocation in the economy are a mixed bag. Despite objections from bankers unions, a bill – to be introduced in the upcoming winter session of parliament – would pave the way for the privatization of two state-run lenders. onion. Investors will pay attention to the fate of this law. They should also keep a close eye on the government’s 6 trillion rupee ($80 billion) asset recycling scheme. This could also become a political minefield. For example, while New Delhi has aggressive plans to privatize the management of its train stations, the amount of money residents may have to spend to improve rail service can become a sensitive issue. sensitive, especially to less affluent voters, who may soon be saddled with a higher consumption tax burden. If business groups deemed close to the Modi government charge that extra user, the opposition parties will get a new source of ammunition to attack the prime minister. about the shadow of big business, and more and more of his competitors will try to keep it there. In the process, important parts of Modi’s economic agenda may be delayed or eliminated. The agricultural law reversal and possible stagnation of new labor laws could be the start of two years of sluggishness. Modi’s Reformed Momentum Has Finally Reached a Wall in India


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