Five policy reforms to jump-start growth
How India can put in place policy reforms to raise GDP growth without creating macroeconomic instability
Mumbai: The second Narendra Modi government has begun its innings in the midst of a sharp economic slowdown. Economic expansion in the fourth quarter of the previous financial year was at the lowest level in five years—and 2.2 percentage points lower than growth in the first quarter of that year. The recent loss in economic momentum will obviously be the dominant concern for new finance minister Nirmala Sitharaman as she puts the finishing touches to the Union Budget that is due to be announced on 5 July.