With 40% of banks assets, or 32.4% of GDP, riding on this instrument alone, the debate about priority sector lending is not new. There is a new-found urgency to make it fit-for-purpose.
Sitharaman, who is only the second woman defence minister in India's history, is expected to work closely with the Finance Minister to take key industry-related decisions
Most key Hindutva/RSS objectives have been achieved, and Modi & BJP now need social calm, at least till summer of 2024. A de-escalation of some sort is on.