Economic policymakers in the Union government appear to be on a high. The recent notification of the four Labour Codes, passed by Parliament more than five years ago, is perhaps the most immediate reason for coming to such a conclusion. Of course, the gazetting of the much-awaited Labour Codes, subsuming 29 existing labour laws after their simplification and rationalisation, is a reasonable justification for believing that the Narendra Modi government has become a little more reform-friendly than in the past.
But the change in the government’s engagement with the economy’s need for reforms is more nuanced than how analysts have
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