NO STRANGER TO Raisina Hill, the third term of the National Democratic Alliance (NDA) government is seeing a flurry of activity and announcements, and the first 100 days was business as usual for the most.
The Bharatiya Janata Party (BJP) led-NDA completed 100 days in power on September 17. Certain of its victory in the Lok Sabha elections, the government had drafted an agenda for the first 100 days before the polls. But with the BJP winning just 240 seats in the Lok Sabha, NDA 3.0 has had to rely on its allies including the Telugu Desam Party, Janata Dal (United), and the Lok Janshakti Party.
This lack of a majority seems to have had a telling effect with the review, if not rollback of a handful of proposals including the indexation benefit on capital gains tax in real estate as well as lateral entry into government service.
A number of big-ticket announcements have been made, starting with the Union Budget 2024-25, which was presented just 44 days after the swearing in of the new government on June 9. Union Home Minister and Minister of Cooperation Amit Shah had said that projects worth about ₹15 lakh crore have been initiated in the first 100 days of NDA 3.0.
Announcements in the Budget include the employment-linked incentive (ELI) schemes and the internship scheme, as well as a focus on attracting private sector investments through setting up of plug-nplay industrial smart cities, removal of the angel tax and income tax sops for the middle class.
This story is from the October 27, 2024 edition of Business Today India.
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This story is from the October 27, 2024 edition of Business Today India.
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