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Keep up reforms

Narendra Modi and his government will have to make sure they don't slip into the 2019 election syndrome and go easy on the economic growth front

Business Standard 

With reference to the excellent editorial titled “Forgotten reforms” (December 8), we — and that includes the government — are all aware that without fundamental reforms in our land and labour laws, our dreams to achieve a double-digit growth in GDP will remain just that — dreams! Our much-touted move up to the “top 50” on the Ease of Doing Business Index will also never materialise unless these two structural reforms are undertaken. The 6.3 per cent GDP growth in the last quarter — which has pleased one and all — may just turn into a flash in the pan. Or, at best, it may move up ever so slowly for comfort. As you have mentioned, “the government cannot afford to be complacent” if it is serious about “job creation and transformation of economy”. Let’s start with the fact that if at all we inch closer to the “double digit growth scenario” only this government can take us there! It may well be the nation’s last chance to realise that dream. Prime Minister Narendra Modi and his government will have to make sure they don’t slip into the 2019 election syndrome and go easy on the economic growth front.

With what one has witnessed in Gujarat over the last few weeks, falling for that temptation is a real possibility. Then again, Modi is the only leader who can afford to forget about every next election, leave that strictly to the party machinery under the leadership of Amit Shah and ensure he and his ministers and bureaucrats focus on maintaining the tempo of economic growth. The government has, without doubt, made great progress in (i) tackling the problems of the banking sector, (ii) bringing in the Insolvency and Bankruptcy Code, (iii) checking seemingly dishonest and incompetent promoters from re-acquiring their defunct assets for a song, (iv) working proactively at easing implementation of the goods and services tax. Hopefully, the Bharatiya Janata Party and Modi will return to power in 2019, even if the PM doesn’t address any election rally. His government’s work will speak for itself. The Indian voter is mature and intelligent enough to notice the development on the ground rather than get swayed by any other factors.


Krishan Kalra Gurugram can be mailed, faxed or e-mailed to: The Editor, Business Standard Nehru House, 4 Bahadur Shah Zafar Marg New Delhi 110 002 Fax: (011) 23720201 · E-mail: letters@bsmail.in All must have a postal address and telephone number

First Published: Sun, December 10 2017. 22:32 IST
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