On Independence Day, Prime Minister Narendra Modi vowed to rollout hard-nosed and long overdue economic reforms to enable India realise its audacious ambition to become a developed economy by 2047.
Two days after his speech, the PM convened a meeting of experts to work out a plan, suggesting that his government is willing to walk the talk—something that eluded previous regimes, all of whom had made similar claims on implementing second generation economic reforms.
The sad reality is that today overregulation and tax overreach force employers to redirect resources away from potential growth and job opportunities to meet compliance requirements. It increases the cost of doing business and makes Indian goods and services uncompetitive.
To unpack this, StratNewsGlobal.Tech spoke to Dhiraj Nayyar, Chief Economist, Vedanta Ltd on Capital Calculus.
Anil Padmanabhan has been a journalist for the last 36 years. He has worked in various capacities in several publications including Afternoon Despatch & Courier, Press Trust of India, Business Standard, Mint and was based in New York for India Today. He was a Nieman Fellow in 2001. He tweets at @capitalcalculus.
