Collateral-free loans in a $5 trillion economy

President Kovind's address to Parliament raises questions on the government's economic policies

The address of President Ram Nath Kovind to a joint sitting of the two houses of Parliament last Thursday stood out for the way it articulated the Modi government’s economic goals. For a better understanding of what one can expect of the Modi government in its second term, it would be useful to examine the salient economic promises made in the speech.
 
The goal of growing the Indian economy to $5 trillion by 2024 has understandably grabbed the newspaper headlines. Questions are obviously being raised on whether this is only one of those catchy slogans or the government is