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More Stories Higher financial savings are also needed to lower interest rates and fund massive infrastructure investment the government has planned. The reduction in inflation in 2014 reflects reduced pricing power due to lower economic growth in 2012 and 2013 as well as the Reserve Bank of India's interest rate increases over the past year. A look at top gainers among BSE100 since May 26 swearing-in shows market has shifted focus to fundamentally sound cos that have continued their good performance. Within its first 100 days in office, the government has made a start in this direction. It has formed a new ministry of river development and Ganga rejuvenation, headed by BJP leader Uma Bharti. The overwhelming opinion is that starting more such institutions is a bad idea, particularly because many newer IITs and IIMs are stilll struggling to get good faculty. Modi needs none-too-spectacular tricks to meet expectations: rainfall over the Thar desert or invoking Goddess Lakshmi to propel the Sensex north of 30,000. In the coming months and years, tenacity and doggedness will matter as much, if not more than enthusiasm and intent, as will the ability to handle real crises. In its first 100 days, the National Democratic Alliance government has taken steps towards dismantling what Modi refers to as 'archaic systems. India is now the natural leader of Saarc. Mr Modi set the wheels in motion when he invited the prime ministers of all the Saarc nations to his inauguration. The new government's focus on manufacturing is also aimed at giving employment to millions of youth, besides enhancing the contribution of manufacturing to the country's GDP. |
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