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New tack on economic policy: Why's Modi govt going against its natural instinct?

The promise of a less suspicious govt is surprising. What about the disconnect between the new business stance and earlier push to dictate the narrative in politics and public life, wonders T N Ninan

Indian Economy | Weekend Ruminations | Narendra Modi

T N Ninan 

T N Ninan

The new tack that the government has spelt out on needs proper understanding, to figure out whether it will work. For it includes not just the of government-owned companies but also of more sectors — like power distribution, where consumers are now promised choice of supplier. There is the promise of a change in attitude. For, while praising wealth creators, the government has also talked of de-criminalising company and tax laws, and further de-personalising tax assessments. This promise of a friendlier business environment and a less suspicious government has taken most people by surprise. But the ground was prepared with the new labour codes, the proposed opening up of agricultural marketing, private sector entry into mining and rail transport, and an incentive-driven push to promote manufacturing. Seven years after Mr Modi said the government had no business being in business, the business community senses real change.



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First Published: Fri, February 19 2021. 22:21 IST