Prove Basu wrong

While he sought to “clarify” — unconvincingly — his statements a day later,Basu confirmed most stakeholders’ concerns. The list of reforms that need a strong political push,or rather,a shove,are far too many. GST rollout will take more than a year. The Direct Tax Code will not be in place before the next financial year. There are as many as 68 amendment bills awaiting parliamentary approval.

It’s a shame that the opposition is agreeable to certain bills but members of the ruling party have reservations against them. Even on the non-legislative front,the Congress-led government’s track record is dismal. It has been unable to get allies on board on issues such as foreign direct investment in multi-brand retail. Worse,its own ministers are not on the same page on allowing 26 per cent FDI in defence. To top it all,the government has opened a new front by proposing retrospective amendments to tax laws. It’s high time ministers learn to talk to the opposition,allies and their own colleagues in good faith. When you don’t have the requisite numbers in Parliament,a modicum of humility will not do any harm. The chief economic advisor has some great ideas on managing the political economy but he is only an advisor. He is left with just a few months in office but the government has two years to prove him wrong.