Deep post-election change unlikely

It is easy to promise removal of restrictions on export and import of agricultural products but difficult to do so

In its election manifesto, the Congress party says it will reward export-oriented industries through tax rebates and incentives. It also promises to review and replace the current Goods and Services Tax (GST) laws with a ‘GST 2.0’ regime that will truly reflect the intent and purpose of a non-cascading, value-added, indirect tax. Another pledge is to enact and enforce a comprehensive ‘Law on Doing Business in India’ that will incorporate the best business practices and rules.

Few can quarrel with its statement that export creates jobs and no country has achieved high economic growth without high growth of export. However, there