MUMBAI: Citibank has expressed disappointment with the lack of “big bang” reforms in the BJP manifesto. However, they remain hopeful that these reforms can be introduced later on. In a research report, Citibank said that it could be a bit of a “let-down” that the structural reforms of land, labour, agriculture, privatisation, and opening up to foreign investment, which are contentious, did not find any mention in the manifesto.
According to the report, the manifesto seems to be more focused on continuity than change. “The party might be confident of its last 10 years’ performance track record, which is expected to propel India into being the third-largest economy in the next five years,” the report authored by chief economist Samiran Chakraborty said. It points out that the manifesto has a plan to develop industrial cities along different industrial corridors. However, there is no explicit mention of extending the production linked incentive or ‘Make in India’ schemes.
According to the report, the manifesto seems to be more focused on continuity than change. “The party might be confident of its last 10 years’ performance track record, which is expected to propel India into being the third-largest economy in the next five years,” the report authored by chief economist Samiran Chakraborty said. It points out that the manifesto has a plan to develop industrial cities along different industrial corridors. However, there is no explicit mention of extending the production linked incentive or ‘Make in India’ schemes.