March 28, 2020
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Governance Interrupted, And Resumed

From economic reforms to inflation, getting the nuke deal through IAEA and NSG, down to dealing with old and new allies...

Governance Interrupted, And Resumed
Governance Interrupted, And Resumed
Economic Reforms

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.
The Reality Check

Little time for new airport policy

  • 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
The Nuclear Deal

Ahoy with the nuclear deal

  • 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
The Aam Aaadmi Agenda
  • 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
Managing Old And New Allies

Shibu Soren: will he get coal back?

  • 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
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