Reform initiatives that were pursued by previous Indian governments often failed due to inadequate attention to state capacity. This government has a once-in-a-generation opportunity to translate ideas into institutional change.
India recently witnessed watershed election result and expectations are high for the policy initiatives emerging from New Delhi.
There is no doubt that the Modi government’s first budget is pro-growth in its orientation, but it still lacks a detailed blueprint for economic renewal.
India has fallen far and fast from the runaway growth rates it enjoyed in the first decade of the twenty-first century. The recent election results have demonstrated a nationwide desire to reverse this trend.
Restoring the lost dynamism in India’s vital strategic partnerships and regaining a firm handle on some of its traditionally fraught relationships must be at the top of the diplomatic agenda.
Although the 2014 election repudiated many of the tenets of the post-1989 system, it is too soon to proclaim the death of coalition politics.
It is time to dismantle the current welfare system and adopt new approaches in order to reduce poverty and boost India’s growth rate.
If trends witnessed in India’s 2014 election persist, the country may have closed the book on twenty-five years of electoral politics and moved into a new era.
A playbook for how Indian policymakers can return the country to a path of high and sustained economic growth.
The administrative deficit may not be talked about as much as the fiscal deficit. But if it is not corrected, growth will not pick up.