Two years on from his inauguration, Prime Minister Narendra Modi has arguably just enjoyed his most successful month in office. For a start, PM Modi's BJP secured two important legislative victories in the latest session of parliament. The first was the approval of a new bankruptcy code, which should help to improve the business environment and ease constraints in the banking sector. The second was the passing of amendments to a long-standing tax treaty with Mauritius, which should help to boost tax revenues.
In addition, the BJP performed as well as could have been reasonably expected in recent state elections, with the ruling national party winning emphatically in Assam (see Chart), and making small gains in West Bengal and Kerala. The BJP still faces a tough challenge in pushing politically-contentious measures through parliament, but the outlook for reforms has brightened a touch.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services