NDA III: An Economic agenda for the next govt

Updated: May 24, 2019 7:09:30 AM

The economy is facing risks of getting into a middle-income trap. Schemes like PM-Kisan are sort of compensatory apo-logy; they may stimulate consumption in a limited manner but won’t be enough to reverse structural slowdown.

Economic growth has been weakening in the past four-six quarters, which needs to be corrected urgently through appropriate policy reforms.

By NK Singh,
Chairman, 15th Finance Commission

-A wish list for any new government will be to have political will in the first year in office to bring in reforms in land, labour and capital.

Krishnamurthy Subramanian,
Chief economic advisor

-Some important structural reforms like the GST and IBC are done, although some more tweakings are required there. These have to be followed up with reforms in the factors markets.

Sonal Varma,
Chief India economist at Nomura

-Fixing the NBFC crisis and growth slowdown are immediate priorities. Mobilise more revenues and channel them towards productive spending.

DK Joshi,
Chief economist at Crisil

-First, the government has to address growth slowdown, come out with policies to fix farm distress and more reforms, especially in GST and IBC, fast. It needs to seriously look at more divestment revenues

Rathin Roy,
Director, NIPFP

-The economy is facing risks of getting into a middle-income trap. Schemes like PM-Kisan are sort of compensatory apo-logy; they may stimulate consumption in a limited manner but won’t be enough to reverse structural slowdown.

Arun Kumar,
Former professor, JNU

-There are structural issues. Unorganised sector is declining. Private investment has stagnated. Massive investment is required in education, health, drinking water, telecom, roads and irrigation.

Madan Sabnavis,
Chief economist at CARE Ratings

The slowdown in private consumption is here to stay for some time and no government can stimulate it overnight. So economic growth will stagnate around 7% for one-two years before recording a gentle recovery.

Arvind Virmani,
Former chief economic advisor

Economic growth has been weakening in the past four-six quarters, which needs to be corrected urgently through appropriate policy reforms.

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