Panagariya Critiques Modi's Economic Reforms

Arvind Panagariya, a well-known economist and advisor to Prime Minister Narendra Modi, recently wrote an article criticizing the lack of significant economic reforms in 2025.

He pointed out that many of the measures taken were actually corrections of previous mistakes rather than true reforms.

Panagariya also listed six recommendations for the government to consider in 2026, including rolling back customs duties, finishing the withdrawal of Quality Control Orders, signing trade deals, restraining the Directorate General of Trade Remedies (DGTR), not overvaluing the rupee, and monitoring exports.

The article suggests that the government has been protectionist and resistant to import liberalization, which has hindered India's economic growth.

Panagariya's advice is seen as a potential indicator of what might be included in the upcoming budget or as an expression of his frustration with the current economic policies.

P Chidambaram, in an opinion piece, suggests that Panagariya's compliments are a 'subtle dig' at the Centre, indicating his dissatisfaction with the government's economic policies.