We will not miss the bus again, next wave of reforms soon: FM Sitharaman

It can be noted that many analysts have been calling for urgent reforms in the factor markets, especially regarding land and labour, to get the economy out of the trough

Finance minister Nirmala Sitharaman on Tuesday said the government will soon use its strong electoral mandate to usher in the next wave of reforms, and not to miss the bus this time.

Without naming the reform measures unsuccessfully attempted by the Modi government in its first term, and in an apparent hint at land acquisition reform attempts by NDA-1, she said government’s efforts last time were thwarted by the poor numbers in the Upper House. It can be noted that many analysts have been calling for urgent reforms in the factor markets, especially regarding land and labour, to get the economy out of the trough, citing the strong political mandate the government enjoys.

“…I am sure we will now show the commitment for reforms happens fast. That is where the mandate given to Modi 2.0 will help,” Nirmala Sitharaman said, speaking at The Indian Express’ ‘Adda’. “We will push forward with those reforms which have missed the bus last time, but won’t miss the bus now,” the minister asserted.

Her comments come on the heels of the BJP failing to improve its tally in the just concluded Maharashtra and Haryana elections despite the party playing the nationalism card to the full. Many pollsters have opined that hard economic realities such as the deepening agrarian crisis and rising joblessness have trumped the nationalism card of the ruling BJP in both the states.