A new government, a new beginning. However, for industry leaders, it is a time of uncertainty as they wait and watch what policies the new dispensation will enact
A new government, a new beginning. However, for industry leaders, it is a time of uncertainty as they wait and watch what policies the new dispensation will enact. This issue of Outlook Business serves as a platform for the country's investors, economists, stockbrokers and industrialists to articulate a demand draft for the new government; all of them advocating policy continuity.
Historical precedents remind us of significant shifts triggered by new administrations, from the nationalisation of coal mines and banks to drastic changes in income tax rates. The 1990s saw the liberalisation of the economy, while the Narendra Modi government's tenure since 2014 introduced transformative measures like goods and services tax, demonetisation and the production-linked incentive scheme.
These insightful contributions offer invaluable guidance to policymakers, ensuring that the momentum of the country's economy remains unhindered. At stake is not only India's trajectory towards becoming a developed nation by 2047 but also the aspirations of its youth, who yearn for employment opportunities commensurate with their ambitions.
Esteemed voices from various sectors offer nuanced perspectives and pragmatic recommendations to steer India's economic trajectory. From calls for regulatory reforms to suggestions for bolstering infrastructure and fostering innovation, each column presents a roadmap for sustained growth and prosperity.
As the nation anticipates the swearing-in of its next prime minister, it is imperative that the incoming government heeds the collective wisdom encapsulated in these pages. By embracing policy stability and building upon existing frameworks, India can navigate the complexities of a dynamic global landscape and emerge stronger and more resilient.
This edition showcases divergent voices from divergent stakeholders; the unifying theme is a charter of demands that would smoothen India’s growth to a developed nation. The new government must be open to hearing different, and even critical, voices. Only consensus among stakeholders will help propel the country forward.