The Narendra Modi government’s third term in office will place reforms in all factors of production, including land, labour and capital on “top of the agenda” along with the “21st century factor” of digital infrastructure, in its pursuit to make India the world’s third-largest economy, Finance Minister Nirmala Sitharaman asserted on Tuesday.
The Minister’s statement assumes significance as it is the first major reference to long-pending reforms in land laws since the government abandoned efforts to reform the land acquisition law in August 2015, after promulgating an ordinance to change the law thrice.
In an interaction with industry leaders hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI), Ms. Sitharaman promised that systemic and area-specific reforms will continue if the present regime returns to power while “next-generation reforms will certainly be on top of the agenda”.
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