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22 October 2014,

Modi win in 2 states pave way for national overhaul

Akshay Mathur, Head of Research, Gateway House, comments on the recent State elections on MENAFN

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It’s been a good weekend for India’s Prime Minister Narendra Modi.

Two days ago he took his biggest step yet toward boosting the economy with a shift to more market-based energy pricing. Then Sunday his Bharatiya Janata Party came first in two state elections building on his landslide victory in May.

Modi now has a stronger hand to push ahead with tougher steps to overhaul Asia’s third-biggest economy. Those include passing a goods-and-services tax further opening up to foreign investment and making subsidies for fertilizer cooking gas and food more targeted toward the poor.

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