Governance Interrupted, And Resumed

The government's wishlist Push through stalled legislation in financial sector reforms

• Pension PFRDA bill to reform the pension system and empower the regulator is pending in Parliament. Likely to go through.
  
• Banking Two bills in Parliament. One, to remove a 10% cap on foreigners' voting rights in banks, might be cleared. The other, to merge SBI with subsidiaries and dilute government stake, faces stiff opposition.
  
• Insurance Is keen to raise FDI limit to 49%, but the bill is yet to reach Parliament. Will need to evolve political consensus.
  
• Disinvestment will be on the backburner, but government may revisit plans to list shares of some government-owned companies
  
• SEZ-related reforms—including bills for rehabilitation and amendments to the Land Acquisition Act—currently with standing committee in Parliament. Expected to go through. May increase limit for size of SEZs.

• Government's top agenda is not reforms but to bring down double-digit inflation and maintain growth momentum
• It will need the support of some Opposition parties to push through reforms in both houses of Parliament
• There may not be enough time to debate and process reforms like the new airport policy or the unorganised sector workers' social security bill

• Getting the deal through IAEA and NSG to be top priority
• Envoys to be sent to all 45 member-countries of the NSG before July 31

• Implementation of the recommendations of the Committee of Ministers on Dalit Affairs
• Operationalise measures to enhance skill development
• Revamping the nutrition programme
• Pursue pro-farmer policies and maximise the NREGA scheme
• Push through the right to education bill, and other pro-poor legislation

• Meet the demands of the Samajwadi Party as well as smaller parties who voted with the government
  
• Cabinet berth for JMM chief Shibu Soren
  
• Keep loyal allies like the DMK, RJD and NCP in good humour