Why delivering a big bang package of reforms is doable for Modi govt

The important thing is to signal to the market that the government is serious and ambitious.

The Indian economy continues to slow. The monthly Index of Industrial Production fell to an eight-year low in the month of September, contracting by over 4 per cent. According to India’s central bank, growth in bank credit to industries in the same month fell to 2.7 per cent, the lowest in a year. While the numbers for services are a little better, even they stand at a two-year low.

Economists have little faith that things will turn around on their own. The government desperately needs to revive investment. The only way to do so is to embrace something it’s avoided thus