Indian Real Estate Revisited: Coming Out of the Trough
After the recently concluded national elections in the world’s largest democracy, there is just cause for controlled optimism and cheer. In a country that is more than twice the size of the European Union and which speaks more than 50 languages and numerous other dialects, 417 million people turned up to vote for a new government and choose from a bewildering array of 300 political parties. The voting was electronic, and the results were out in less than half a day of counting.
The result was a clear majority for the Congress Party–led coalition — a party with a left of center approach. But more importantly, in stark contrast to what was widely feared, the election results have delivered political stability and given a strong mandate to the new government. The Congress Party is not overtly dependent on any coalition partner — which has been the bane of policy decisions for more than 20 years — and we can look forward to the government undertaking reforms that can he