Modi government’s real estate package is a mere palliative that’s come too late as well. It’ll take months for the fund to be operationalised, especially if government agencies are to run it. The approach of tackling the economic challenge sector-by-sector is short-sighted. It’ll work when fundamental, systemic reforms are undertaken.
Mushqilein itni padi mujhpe, Ki aasaan ho gayeen. 2. What the Indian economy needs is a rising tide that lifts FMCG, telecom, airlines, real estate, everything. That can only be generated by undertaking structural reform, which each government has found politically expedient to duck. Fortunately, four years remain. The results from Haryana and Maharashtra suggest that a political price will have to be paid for inaction. 3. Without detracting from the need to address the macroeconomic situation, wherever sector specific interventions can bring relief, that too should be done. 4. All this will be facilitated if the pause button is pressed on divisive issues and distractions.