Going beyond the two cities of Delhi and Mumbai surveyed by the World Bank report, the Central government has involved states in the EoDB mission under the Business Reform Action Plan, now completing its fourth year.
Banks, especially public sector banks, require a systemic overhaul related to ownership, management, and regulation. PSBs’ gross NPAs have risen from 4.6% in March 2015 to 9.6% in March 2017.
The key challenge for the Indian economy is that of intractable inflation. RBI has raised interest rates seven times and tightened liquidity to contain inflation.
