Structural Reforms Unleashing Megatrends In The Economy

It is now widely accepted that the emergence of Indian economy as an economic powerhouse began with the path-breaking economic reforms of 1991.

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India’s GDP multiplied 10 times since 1991 and presently, India is the third largest economy in the world in PPP (Purchasing Power Parity) terms. Structural reforms akin to 1991 are happening now. GST is a major structural reform. Other reforms like RERA (Real Estate Regulation Act), Insolvency and Bankruptcy Code, Benami Act, Jandhan and Aadhaar-linked initiatives are unleashing profound consequences which, in turn, are paving the way for some megatrends in the economy. An insight into these emerging megatrends in the economy will enable investors to spot the winners sufficiently early. Let us try to discern some broad emerging megatrends.

FORMALISATION OF THE ECONOMY