The Real Test Begins
A job is the best cure for poverty, and that’s why economic development and job creation must go hand in hand. — Unknown
The Narendra Modi government has slowly, but surely, set in motion the process to make India an economic superpower — a $5 trillion economy — by 2025.
The BJP had listed its economic commitments in the election manifesto. This was followed by the Union Budget recommendations presented by Finance Minister Nirmala Sitharaman.
As follow-up measures, the 100-day agenda of the Modi government is being keenly tracked. At a post-Budget dinner hosted by the finance minister recently, it was rightly observed that the disinvestment secretary is the flavour of the season.
While consumption and demand are to be pushed, and private investment is to be encouraged, India Inc, as expected, is majorly interested in the disinvestment process. The Air India disinvestment process, pending for a host of reasons, will now get an impetus with Union Home Minister Amit Shah directly getting involved in the process — now that he will head a reconstituted Group of Ministers on the issue.
But can PM Modi match former PM Atal Bihari Vajpayee’s boldness in taking forward the disinvestment process, and shed, once and for all, the ‘incremental reformer’ image? We will wait and watch.
Elsewhere, too, structural changes are in the offing. As former finance minister Arun Jaitley recently indicated, two GST slabs could be ideal going forward. So, expect the government to do away with the two highest slabs of 28 per cent and 18 per cent. In our post-Budget issue, we said the economic vision now must be matched by action. We will keep tracking the Modi government on this count.
For this issue’s cover story, we have something special lined up for you. As you may have read, India’s leading online travel company Yatra has recently been acquired by Ebix. The US-headquartered Ebix has a fascinating story, and so has its flamboyant CEO, Robin Raina.
Raina may have established a record of sorts by logging 80 quarters of sequential growth. He is betting big on India and wants subsidiary EbixCash to be headquartered out of India and be known for his intellectual property.
Raina is a big fan of PM Modi, but has some issues with the India growth story.
We present in the cover story a fascinating account of this man with a Midas touch.
In the second cover, we present Great Places to Work, in association with the Great Place To Work Institute.
Workplaces increasingly have come to acquire importance that matches our homes. We need good leaders, conducive work environment and healthy competition. We present to you the best mid-size companies to work for.
The national capital and Mumbai last week saw the first Gandhi Mandela Peace awards being given. It will become an annual event. One of the key participants at the event, BJP MP Tejaswi Surya, is featured in our Last Word.
This issue of BW Businessworld has all other regular features and columns.
Do keep sending in your feedback.
Happy reading!
