Reforms Rush

The Narendra Modi government is pushing ahead with economic reforms - with renewed vigour and welcome urgency. After appearing to be blindsided for a while by the obstructionist tactics and filibustering by the Opposition and some of its allies, which surprised everyone by punching well above their weight, the ruling side has regained its mojo. The momentum began to swing the government's way in the Budget Session of Parliament, when the Rajya Sabha, where the BJP-led National Democratic Alliance (NDA) is in a minority, passed two reformist bills - the Insolvency and Bankruptcy Code, which promises to resolve bankruptcy proceedings within 180 days, and the Real Estate (Regulation and Development) Act 2016 - that had been hanging fire for years. This was just the beginning. The Assembly elections that followed further emasculated the Congress' national footprint and, simultaneously, expanded the BJP's horizon, and shifted the momentum decisively the government's way. The elections to the Rajya Sabha also improved the equation, albeit only slightly, for the NDA. The foreign direct investment (FDI) reforms are, thus, in line with the direction being followed by the Centre. And now, the government has decided to push the long-pending GST Bill through the Upper House - with Congress support if it can; despite Congress Opposition if it must. And along with momentum, the government's luck also seems to be changing for the better. After two successive Monsoon failures, the weather gods have decided to smile on the Indian farmer. If the monsoon is normal this year, the economy, riding the slew of reforms unveiled by the government, could get back on the high growth path in the very near future.