An opportunity to transform economy

The clouds hanging over the global economy due to the US-China trade war and the slowing domestic economy make it imperative for the government to consider a sizeable stimulus in its first Budget

Sumant Sinha New Delhi
Illustration by Binay Sinha

Illustration by Binay Sinha

India has resoundingly re-elected the Narendra Modi-led National Democratic Alliance (NDA) for the next five years. Given its majority in Parliament, this will be a stable government with a clear mandate, and this provides the new government a historic opportunity to transform India’s economic landscape.
Clearly, the government has to continue with all the good work it has been doing over the past five years — reforming the banking sector, sharpening the roll-out of GST and investing in building core infrastructure. In addition, the economy has run into a bit of a soft patch which needs to be addressed immediately. The automobile sector is going through a slowdown, the aviation sector is in a difficult spot, and many corporations are clearly hesitant about making further investments. This has to be dealt with expeditiously. A few key actions by the government can put us on a more sustainable economic trajectory so that more Indians are able to reap th
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: May 30 2019 | 9:39 PM IST

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