3 Good Things
  • Tangible changes delivered on the ground
  • Climate conducive for business
  • Holding bureaucracy to a higher standard of deliverables
3 Bad Things
  • Long pending issues in the power sector
  • GST missing its earlier deadlines

Future Planning
-Speedy implementation of GST
-Setting up of Expenditure Management Commission
-Creation of a national agricultural market
Expert Comment
Naushad Forbes
Director, Forbes Marshall
The Modi government's first year has been very encouraging. Several tangible changes have been delivered on the ground, significantly improving the climate for business. Among them, holding the bureaucracy to a higher standard of deliverables, addressing many long-pending issues in the power sector, and placing such critical items as the ease of doing business and labour reform at the top of the policy agenda are all to be greatly appreciated. Even more encouraging is the direction and commitment for further reform. Here are three key items I look forward to. Top of the list is bringing in the Goods and Services Tax (GST) from April 2016, pending now across three governments and twelve years. A comprehensive GST could transform tax regime and is estimated to add 11/2 to 2% to annual GDP growth. Second is the creation of a national agricultural market announced in this years budget - no other measure has as much potential to transform rural livelihoods and boost farmer productivity and real income. Third is the Expenditure Management Commission, announced in the interim budget last year. Implementing the recommendations of the commission has the potential to transform the fairness and efficiency with which subsidies are provided to the great benefit of the truly disadvantaged. These three measures in themselves can transform the efficiency of business, agriculture, and provision of subsidies - and with them the country itself.