Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
10,741.35-177.35
Stock Analysis, IPO, Mutual Funds, Bonds & More

Scale of victory in UP to ensure reforms will accelerate, says Dr Arvind Virmani

The budget already has strategic sales in it as also labour reforms. These will be sharply accelerated going forward, says Virmani.

ET Now|
Updated: Mar 11, 2017, 02.41 PM IST
0Comments
" I do believe this will help accelerate the programmes which are already laid down in the BJP manifesto and things which the government and the Prime Minister has talked about since he became Prime Minister."
" I do believe this will help accelerate the programmes which are already laid down in the BJP manifesto and things which the government and the Prime Minister has talked about since he became Prime Minister."
In a chat with ET Now, Dr Arvind Virmani, Former ED IMF & CEA, MoF, says the victory gives Modi the base to move forward hopefully much faster on the things which he has already outlined.

Edited excerpts:


Does a victory like this give Narendra Modi the muscle to perhaps go for some of the big reforms? Talk about FDI in multibrand retail perhaps over rise in concern that even people within his party or the RSS have made?

One thing one has learnt about the current Prime Minister over the last two-three years is that he has not deflected from objectives. He is not going to fundamentally change his approach to economic policy and institutional reforms.

One thing which is clear is that he does not believe in the so called big bang reforms. However, there are many many things which he can, and I do believe, will accelerate. Let me give you a couple of examples. The budget already has strategic sales in it, they have been talking about it for a year or so. That can and will be sharply accelerated going forward. So the victory does give him the base to move forward hopefully much faster on the things which he has already outlined.

The second is labour reforms. Again, the budget already mentions certain labour reforms, reduction of something like 40 labour laws into four etc.He will not do something completely different but he can certainly accelerate the reforms which are already on his table. So yes, it is good news for economic reforms.

But due to the scale of the victory, my only point is to be cautious against arrogance. I do believe this will help accelerate the programmes which are already laid down in the BJP manifesto and things which the government and the Prime Minister has talked about since he became Prime Minister.
0Comments
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service