Time is opportune for second generation reforms to come into effect: SBI chief

As the first generation of reforms completes 25 years, this seems like an opportune time for second generation reforms encompassing vital sectors such as banking, bureaucracy, judiciary and industry, to come into effect.

In its annual report, State Bank of India (SBI) said: “Low inflation, good agriculture growth and declining power shortages are indications towards a bright future...The first generation of reforms has completed 25 years and the law of diminishing returns has now set in preventing a full scale revival.”

As SBI Chairman Arundhati Bhattacharya puts it, with the policy environment now becoming more predictable, Fiscal Year 2018 (FY18) is likely to be challenging yet more promising than the previous year.

Political stability has increased and this will provide the basis for more bold reforms in the next two years, she added.

Source: BusinessLine

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