Skip to main content

NDA Reforms Journey is WELL

Two years of the NDA government have instituted significant reforms including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank. Noting that India has managed to combat inflation, the Hudson Institute said the country has the potential to hit double-digit growth rates if it focuses on modernising infrastructure, improving basic amenities and reducing red-tapism. In its recent report 'Modi Two years On', the think-tank has analysed two years of the government led by Prime Minister Narendra Modi and said it has instituted significant reforms, with the most significant of them being passing of the Goods and Services Tax (GST) bill. It said the bill, passed by the Rajya Sabha last month, will over time create a much needed pan-Indian market. "India's economy can grow at double-digit rates if it can repair and rebuild its British era rail, road and air transport and port infrastructure, improve accessibility to basic amenities like electricity and water and untangle the Gordian knot of its complicated bureaucratic rules and regulations," it said yesterday. The report, however, added that two years of the NDA government has not yet fulfilled the expectation of moving expeditiously to create a new India. "India needs to become an open, non-paternalistic society focused primarily on economic issues but over the last two years, cultural issues and saffronisation have resulted in slow incremental change instead of big bang reforms," it said. "India is currently the world's fastest growing economy and is expected to continue to grow at least at seven per cent per year for the next few years," said Dr Aparna Pande, Director of Hudson Institute's India initiative. "India has managed to combat inflation and the fall in global oil prices has reduced its subsidy burden on account of petroleum products," she said. It has become easier to start a business in India under the NDA government though access to credit has become tougher and paying taxes has become less easy, the report said. The one area where the Indian government has not resembled its predecessors is the "passion" with which Modi has taken to foreign policy, the report said. He has visited 42 countries on six continents, including four trips to the US. He has travelled to countries where his predecessors have not travelled to in decades, including countries in the Middle East, Central Asia and Africa, it said. The objective of these visits has been to boost economic relationships by seeking foreign investment or access to energy sources and markets for Indian products and to improve security relationships, the report added.

Comments

Popular posts from this blog

DHIRUBHAI ENJOYED IN WEALTH CREATION

Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) id…

BEAR GRIP ON INDIAN STOCK MARKET

RECORDS 1 WEEKLY FALL IN 6 WEEKS
Gripped by fear psychosis due to geo-political aftershocks, key stock market indices were on a sticky wicket for the fifth day today as both Sensex and Nifty fell over 1 per cent to hit their one-month lows. The sharp plunge left investors poorer by over Rs 95,000 crore as the market cap stood at Rs 1,27,08,846 crore. Risk appetite took a hit after the Economic Survey said achieving the high end of the 6.75-7.5 per cent growth projected previously will be difficult. This is markets' first weekly fall in six.
Weakness in the rupee against the American currency and lacklustre global shares dragged down the indices, too. The BSE 30-share Sensex remained in the negative zone and settled down 317.74 points, or 1.01 per cent, at 31,213.59, its weakest closing since July 4. The index had tumbled 794.08 points in the last four sessions. The NSE Nifty after cracking the 9,700-mark to hit a low of 9,685.55, finally settled lower 109.45 points, or 1.11 per cent…

ASTRO TECHNICAL GUIDE FOR NIFTY

 for 11, April 2017
Opening Session  Subdued
Tithi ::Chaitra Bahula  Padyami
Nakshatra:Chitta
Persons born in Pushyami, Anuradha and Uttarabhadra constellations and those born in Libra and Aquarius are advised to be alert in their dealings.
Sensitive / Trend change Timings : 10.05 AM; 11.40 AM; 2.30 PM
Likely Intraday Trend...
On the basis of planetary position and aspects amongst planets, Market is expected to open  Subdued  and remain so  till about 11.20AM and could remain  better from  about 11.30 AM till about 1.30 pm and could remain subdued thereafter till  about end of the day.
Astro Technical Trading Strategy...
If Nifty Fut. Trades below  ATP/ Open level by about 9.30 AM , Short   Positions can be taken with suitable   SL, and such positions can be closed by about 11.30 AM. If Nifty Fut trades above  ATP by about 11.45 AM, Long Positions can be taken with suitable SL,and such positions can be closed by about 1.30 PM / 1.45 PM.
Technical Levels... Resistance : 9220, 9255 Sup…