The package focuses on rural India to drive growth but may disappoint those who see policy through Westernized prisms In addition to what’s been announced earlier, last week’s economic package had five tranches on five successive days.
The first focused on small and medium enterprises, non-bank financial institutions, real estate and liquidity. The second on migrants, affordable housing, street vendors, and micro credit.
The third on agriculture, animal husbandry and fisheries. The fourth on private-sector entry, the opening up of India’s coal sector, and the privatization of power distribution, airports and Union public sector enterprises (PSEs), as well as on raising foreign direct investment (FDI) limits.