Forgotten reforms

Changes to land, labour laws needed for sustainable growth

Data for the second quarter of 2017-18 will have reassured observers that the growth slowdown is being reversed. Growth in the gross domestic product, or GDP, came in at 6.3 per cent, year-on-year, as opposed to a figure below 6 per cent in the previous quarter. Other actions by the government on pending policy problems have also been taken in the last few months. For example, there has been significant movement towards addressing outstanding issues in the banking sector, particularly the large number of bad loans associated with several big corporate houses and projects. The new Insolvency and Bankruptcy Code