Key Points
Election manifestos, released before general elections, say a lot about political parties aspirations, promises, and vision..
The manifesto released by the Bharatiya Janata Party (BJP) before the start of the seven-phase general elections of 2024, therefore, has attracted more than its usual share of attention and commentary..
And the task of ensuring the much-needed revival of private investment could perhaps be achieved with less difficulty if the long overdue factor-market reforms become a priority for the government that comes to power at the Centre in June 2024...
It is in this context that the BJP manifestos failure to underline the need for specific factor-market reforms like changes in laws on land acquisition for industrial projects and in labour policies to make them more flexible is deeply worrying..
Of course, the promise of judicial reform to accelerate e-courts in mission mode, expedite resolutions of old as well as pending cases, and create an ecosystem for alternative dispute resolution should attract private investment, just as the promise of a more efficient health care system and education infrastructure will be a long-term help..
