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Mihir Sharma: No, Mr Modi, you are not yet transforming India

Contrary to the bragging that marked its two-year anniversary, the government's timidity on reform is simply astounding

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Mihir Sharma

Mihir S Sharma  |  New Delhi 

Mihir S Sharma

There is little or no doubt in my mind that, since the beginning of 2016, there has been much energy, direction and purpose to this government than before. A creditable, forward-looking Union Budget was presented, with relatively sober fiscal arithmetic; a bankruptcy law has been passed; work continues on de-clogging the infrastructure sectors, with varying degrees of success but considerable effort.

The process of bank consolidation and of bringing bad debt out into the open has begun; that is a prerequisite for a lending, investment and more general recovery. Already, infrastructure ...

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First Published: Mon, May 30 2016. 21:46 IST
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