Brace for Modi Storm in 2017 – GST & Labour Reforms
Beginning of 2017 the last major leg of assembly elections will be over. There are two possible outcomes and in either case brace for major reforms. A win in this election will make Modi more powerful and more confident than ever. He will have no reason to stop as it will be a referendum that the country is with him and he should carry on what he was doing. Even if he loses these elections he is not likely to stop as he will want to work towards the next general elections. In order to show some results to help bolster his chances of securing another term he will become more aggressive and more combative.
Either it is a confident and powerful Modi or a frustrated and combative Modi, the reforms agenda are more likely to be his top majority. With a win behind him the opposition will have to rethink its obstructive role and will have no option but to have constructive opposition through dialogue else lose further. A combative Modi frustrated after a loss can literally bulldoze his way to get his agenda pushed. Be it calling a joint parliament or taking ordinance route, Modi is likely to get his reforms through.
A Frustrated Modi might be bad news for the industry as the enforcement of the penal provisions can reflect his emotion. The companies might find his attempt to please the masses very frightening. Companies therefore need to be more compliant and not be on the wrong side of the law during the next two years of his government. They better be prepared and stay in control of their compliance than to face wrath of the government. It would therefore be smart to get these business complying by implementing Complicheck to monitor their compliance risks.
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