Performance of concerted reforms: Arvind Panagariya on three years of Modi sarkar
A concerted effort has been made to improve the ease of doing business at the level of the states. The government has repealed 1,175 redundant laws.
After a pause of 10 years, economic reforms returned to the policy agenda in 2014. In the last three years, the Narendra Modi government has moved on nearly all fronts: macroeconomic stability, infrastructure, energy, corruption, direct and indirect taxes, foreign direct investment (FDI), closure of sick units, disinvestment, agriculture, urban development, cooperative federalism and social spending.
Perhaps the most consequential reform since the new telecom policy launched by Prime Minister Atal Bihari Vajpayee has been the goods and services tax (GST). The reform replaces myriad indirect taxes, currently imposed by the Centre and states, by a single countrywide tax.