Damage of six years has been reversed in a matter of a year: Ridham Desai

Morgan Stanley’s head of India research says competitive federalism has emerged as the NDA‘s biggest contribution to the nation as states put in place critical reforms to attract investments.

Singapore: Competitive federalism has emerged as the National Democratic Alliance (NDA) government’s biggest contribution to the nation as state governments put in place critical reforms such as land and labour law changes to attract investments, said Ridham Desai, managing director and head of India research, Morgan Stanley, in a recent interview on the sidelines of a conference organized by the investment bank in Singapore. Prime Minister Narendra Modi has enlarged the revenue share of states and given them greater independence in decision making, which Desai traces to Modi’s experience as chief minister of Gujarat. 

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