Modi probably made the mistake that all politicians make – of waiting too long to get the difficult things done. Long before he got elected, I had suggested that he should get the most difficult parts of his legislative agenda passed in the first 90 days – but the only thing he got done was the National Judicial Appointments Commission bill – which still has to get the approval of 15 states that are needed for a constitution amendment bill. However, all is not lost, for the basic goodwill for Modi remains. He probably has time till around June 2015 to get his legislation passed, and this means he has no time to waste. The last budget by Arun Jaitley was lacklustre, but the next one needs to be truly path-breaking. The next budget is key to reviving animal spirits in the economy, but budgets cannot ensure legislation beyond money bills.
Posted on: Mon, 29 Dec 2014 14:05:58 +0000
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