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Expert says wait for big bang economic reforms could be long

Updated : June 12, 2019 07:51 PM IST

India may have to wait for big economic reforms for longer, said Milan Vaishnav, director and senior fellow - South Asia Programme at Carnegie Endowment for International Peace (CEIP), adding "this government’s economic approach is pragmatic and opportunistic."

In an interview with CNBC-TV18's Shereen Bhan, Vaishnav said, “If we are waiting for big bang (reforms) to come, we could be waiting for a long time because I do not think that’s the operating mindset of this government. I think that they have set out to do quite a lot of welfare and that has been extremely rewarding for them electorally.”

Talking about the election results, he said the outcome indicated that voters feel Modi is the best leader when it comes to dealing with the challenges that the country faces.

“The key takeaway for me is that what was on the ballot this time was leadership,” he said.

About Congress, he said, “If you go back and think about the Congress party in 2014, everyone said they had two major deficits, which were a deficit of leadership and a deficit of vision and here we are in 2019 and we are saying the same thing.”
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