Big Policy Push Plan On The Anvil: Here’s The Priority List Of Modi 2

Published: Saturday, May 25, 2019, 14:10 [IST]

To dissolve the 16th Lok Sabha, PM Modi has put his resignation, and with Modi 2 back in power here is a big policy push planned for the next 100 days that will be aimed at completing unfinished targets such as streamlining reforms including IBC, reviving slow down in consumption, job creation, fixing farm-related distress and fuelling investments from private entities.

Amendment to IBC and ensure a cross-border insolvency framework:

As per a leading business daily report, soon after taking charge, Modi government will overhaul the IBC for brining in a "cross-border insolvency" framework, which will provide lenders to access foreign assets of defaulting companies'. Also, individual insolvency policy measures are being sought after to provide poorer of the poor with a debt relief of up to Rs. 35,000.

Push for faster resolution of insolvency cases:

Essar Steel resolution case is now pending for over 2 years now even though the IBC framework suggest resolution in 9 months time. Faster resolution while impressing on appellate tribunals will spares bank and lenders from huge cost they need to incur due to delayed resolution.

Liquidity conditions gripping the NBFC landscape will be improved:

There will be talk with the RBI to ensure that its revised norms per se stressed asset resolution deals with the various concerns looming all the stakeholders.

Liquidity conditions gripping the NBFC landscape will be improved:

There will be talk with the RBI to ensure that its revised norms per se stressed asset resolution deals with the various concerns looming all the stakeholders.

E-commerce policy will be streamlined further to stick to data localization rules:

Cross border data flow provision will be maintained such that with no clear definition in place for third party, Amazon India will not be allowed to share data with Amazon Inc for providing better customer experience or business expansion.

Consolidation of PSBs will again gain ground:

Due to election season, consolidation in the banking space took a hit and after the new government has been elected, the evaluation of fair consolidation will begin. The government for now is considering consolidating Punjab National Bank (PNB) with Oriental Bank of Commerce (OBC) and some other small lenders.

Distress in the agriculture sector will be catered to:

Export policy will be revived to provide for more incentives for export of agricultural produce. Some of the already existing policies for various commodities will be put for r-consideration that though face the risk of curbs.