A short report card

Three successes and two failures of policy in the last five years

As the National Democratic Alliance’s (NDA’s) second successive term in office comes to an end — with every expectation that re-election is on the horizon — it is worth considering how it has dealt with five relatively tumultuous years, at least in terms of economic management.
 

This column’s opinion of the first five years of the NDA government was not entirely positive. It had two major reform successes: The introduction of the Insolvency and Bankruptcy Code, and the formal institution of an inflation-targeting regime at the Reserve Bank of India. What should have been the third, the rollout of the