The recent spate of announcements dubbed reforms by the government has many doubters. The government’s reforms are still proposed policy changes. To come into full effect, they need to be passed by the Parliament or by state governments. Does that mean that these announcements are all gas? Certainly not. But the reform announcements by themselves will not accelerate the growth of the economy. Rather, think of them as removing bottlenecks already in the way - one at a time. After the first round of announcements, market reports suggest the government is taking on a number of other pending issues. This government now means business.
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