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Letter to BS: We can expect a huge tranche of economic reforms from May 2

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Come May 2 and we can expect a huge tranche of economic reforms. The Centre, if it is as innovative as it seeks to be bold and authoritarian, may well step into the purview of states to address infrastructure and other issues. It is likely to succeed in this considerably, given the preoccupation of the states with fighting the health concerns and the huge shortfall in revenue. The Centre could offer a larger share of the revenue to states in exchange for greater empowerment of Centre on dual-control subjects. What is equally relevant is that the Centre keeps its ears and eyes open so that it does not lose a similar bargaining power with other nations on trade arrangements. Covid has no doubt rendered central control more justifiable but its external equations will decide the success of such reforms.

R Narayanan

Navi Mumbai

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