Failure to build political consensus on structural reforms will hurt investment revival

The history of India’s economic reforms can at best be described patchy, lacking the consistency and depth that investors, domestic and global, would find attractive and sustained. Although more than two decades have passed since 1991, when the ‘first-generation reform measures’ began, the process remains incomplete. Reasons for this are obvious: compulsions of coalition politics have constrained the appetite of governments to embrace hard reforms that go beyond the contours of political expediency.

Read Full Story>>