Visitors to the “Make in India” investment summit in Mumbai earlier this month were struck with déjà vu. The warm welcome for businessmen, the soaring speech by Prime Minister Narendra Modi and the rash of proposed investment announcements recalled “Vibrant Gujarat,” a similar event Mr. Modi hosted when he was chief minister of Gujarat from 2001 to 2014.
Though wooing business is a fine idea and a welcome change from the country’s recent past, the parallels with Vibrant Gujarat revealed a problem. Nearly two years after taking office, a prime minister famed for his administrative skills has yet to show he can run a federal government. Instead of setting a broad policy agenda and hiring the right people to execute it, he has been focused on micromanaging the day-to-day administration of his country.
Finance Minister Arun Jaitley’s Feb. 29 budget is thus an opportunity to show that this government stands for a market-oriented approach to the economy, rather than an uncertain effort to spur bureaucrats to work more efficiently.
The full-text version of this article may be found in The Wall Street Journal.
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