Time for deep economic reforms is now!

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It's now or never for Indian economy - deep, structural reforms can change the face of India.

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Time for deep economic reforms is now!


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Despite whatever the critics of DeMo said, our economy did very well as per CSO GDP estimates. ( view the CSO data here and here, and download the CSO GDP pdf here – from the CSO tab ) The Q4 can show some correction due to informal sector getting affected, as time-lag exists in collection of that data in India. It is not correct to blame the CSO as leads and lags have existed always, including past GDP numbers. Hopes now – (1) Digitisation and less cash transactions can lead to more financial inclusion, (2) Informal economy getting formalized, (3) Dark fears of big collapse are looking highly misplaced, (4) Two other global assessments are also in same direction (IMF and OECD) are positive on India.  ( Download both reports now from Bodhi Resources page – IMF, World Bank, OECD tab ) 

 We now take a look at important data from IMF / OECD / Economist reports. Key learnings – (1) India’s overall macroeconomic framework remains remains robust and credible, (2) Four good things – regular fiscal consolidation, low CAD, low inflation, high public and private consumption, (3) Downside headwinds look very modest now (Chinese slowdown, oil price rise etc.), etc. Enroll in our Online Economic Survey and Budget Course for more 

 Concerns and actions expected – (1) High interest payments due to large debt stock, and by 2023 our debt-to-GDP should be brought to 60%, (2) Our macroeconomic stability depends on reducing this debt and also controlling Fiscal Deficit targets, (3) Twin Balance Sheet problem is dangerous now, and we have to differentiate stock from flow in NPAs, (4) All political parties must come together for deeper, lasting economic reforms – don’t expect it only from BJP. We have to go Institutionally. Positive steps taken already – (1) Banks Board Bureau, (2) MPC, and (3) GST Council. But now we need a Banking and Finance Council to tackle the entire Banking sector and NPAs issue head-on. This may be the biggest reform ever, but RBI has a vested interest conflicting with it as of now. Hence, tenacity is the key. India has to now look boldly to the future with major reforms waiting to be enacted. The future is bright.   



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Bodhi Booster: Time for deep economic reforms is now!
Time for deep economic reforms is now!
It's now or never for Indian economy - deep, structural reforms can change the face of India.
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