Govt will soon use strong electoral mandate to usher in next wave of reforms: Sitharaman

06 Nov 2019 Evaluate

Expressing optimism over more reforms for India’s growth, Finance minister Nirmala Sitharaman has said the government will soon use its strong electoral mandate to usher in the next wave of reforms, and not to miss the bus this time. Without naming the reform measures unsuccessfully attempted by the Modi government in its first term, and in an apparent hint at land acquisition reform attempts by NDA1, she said government's efforts last time were thwarted by the poor numbers in the Upper House.

She said ‘i am sure we will now show the commitment for reforms happens fast. That is where the mandate given to Modi 2.0 will help’. She emphasized that ‘we will push forward with those reforms which have missed the bus last time, but won't miss the bus now.’ On whether economics has trumped politics in the recent elections, she it is not possible for any political party, particularly those in power, to delink any subject.

Finance minister said ‘It is not possible for any government, be it at the Centre or in the states, to say give me your vote on nationalism and I do not want to talk about economic issues. Is the voter going to be indulgent enough to say ‘alright, the prime minister doesn't want to talk about economy so we won't talk about the economy’. Hitting out at those who blocked government from carrying out reforms in its first term, she admitted that the numbers were limited (in the Upper House) and the country paid the price for that.

She said the manufacturing sector competitiveness is still pulled down by ‘extraneous’ factors such as high cost for land, electricity and also changes in land use, which are beyond the ambit of individual companies, but which the government now wants to ease them all. She added that everything has a long way to go in terms of becoming actually easy to do business. About companies to committing new investments and using the space created by the corporate tax cut for deleveraging, she said it is fine for a corporate to use the space for the purposes it wishes and exuded confidence that over the long-term, they will invest.

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