Indian Govt may offer mega booster to realty |
India`s Finance Minister Nirmala Sitharaman on Tuesday said the government will soon use its strong electoral mandate to usher in the next wave of reforms. Without naming the reform measures unsuccessfully attempted by the Modi government in its first term, she said the government`s efforts last time were thwarted by the poor numbers in the Upper House. Many analysts have been calling for urgent reforms in the factor markets, especially regarding land and labour, to get the economy out of the trough, citing the strong political mandate the government enjoys. While speaking at an event, Sitharaman said, "I am sure we will now show the commitment for reforms happens fast. That is where the mandate given to Modi 2.0 will help. We will push forward with those reforms which have missed the bus last time, but won`t miss the bus now." Many pollsters have opined that hard economic realities such as the deepening agrarian crisis and rising joblessness have trumped the nationalism card of the ruling BJP in Maharashtra and Haryana states where the assembly polls have just concluded. She also pointed out to the huge domestic market of that India`s 1.34 billion population offers.
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