Saturday, May 14, 2016

Reform Springs sans Political Mileage

Last couple of weeks has been a pot boiler of events for Indians across globe, all thanks to the domestic circumstances which prevailed for quiet some time but culminated in last few weeks. Long due enactment of Bankruptcy Act (with an astonishingly majority of "Ayes" at lightening speed @ both houses) and with a failed-coup try by the central government in Uttarakhand, this fortnight culminated with lots apprehensions and curiosity.

Apprehensions because of hastiness shown by the BJP led opposition in Uttarakhand. Coup styled events led to the President's rule for some days but status-quo prevailed and state Congress leader Harish Rawat was back at the helm. This hastiness raised many eyebrows but all waited till the floor test and BJP had to retract. Yet again a humiliation in a state. Why is BJP not able to mark its presence in various states where it has emerged as a main opposition but couldn't be at the helm. Many believes that the central strategy creators for the party do not understand the ground realities and their tactics are whipped away easily. Let's hope that BJP's think tanks do realize that actions are taken on the ground and strategy formulation should inculcate the ground zero sentiments. Central Congress strategists on the other hand gave all their leeway to Rawat to react and act with freedom. The results are well known to us.

BJP led government should on the other hand be appreciated for their ability to enact the Bankruptcy law which was pending for more than 4 years at an alarming speed. This hastiness and collaboration with all other parties for its smooth enactment highlights their will and intent to move things up. Mauritius Treaty's amendments and moving towards level playing field for many foreign institutional and portfolio investors is absolutely spot on. This states and highlights India's efforts across globe to curd the Black money menace and brings under scrutiny of possible round-tipping of Indian funds.

Wish and hope that the collaborative effort of the government should also help in passing the much delayed GST act and brings in uniformity in the indirect tax structuring. The biggest and mega reforms are still not tick marked yet.

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