So what did I think of the @narendramodi speech today? Thread.

1st Connected to his base very effectively - while people were too eager to come to the point (read upper middle class) - he took his time to use his powerful oratory and skillful use of Hindi to connect. So 10/10 on communication and political messaging. https://twitter.com/PMOIndia/status/1260216479049367552?s=20

2nd his make in India was a) politically good b) practically dependent on the reforms he mentioned c) hopefully was not a call for putting up import/export barriers (our wealth depends on the interdependence to a fair extent - Ricardo's theory of competetive advantage). 7to9/10

3rd his 20 lac crore announcement was classic shock and awe we see in Grey's Anatomy when they give defibrillator treatment to one whose heart has stopped. The economy needed it and he gave d right dose. I would give him 10/10 subject to some bureaucrats translating it well

4th On Land, labour, liquidity, laws reforms he has said exactly the right thing, though a bit late. I have tweeted about this - though those were immediate points for implementation. I can't give him any marks till I see reforms underway https://twitter.com/SandeepParekh/status/1254766489678143494?s=20

The current focus should be liquidity. Fill money in the dehydrated body of India. Liquidity is not food, but it is water for the body. Very very important in the short to medium term. Ability of MSMEs to pay their workers amongst many other things - will depend on this.

Land reforms are already underway in many states and need further push. Labour laws need a complete overhaul. We need a 5 page labour law - see previous tweets https://twitter.com/SandeepParekh/status/1258368668028854273?s=20

Legal reforms, if it means repealing most useless laws is not an achievement, though desirable. What is needed is a complete overhaul of the judiciary.

While we are 63rd rank in overall score in ease of doing business (out of 190 countries - WorldBank), we rank 163rd for enforcement of contracts.

This is below Republic of Congo, Benin and Pakistan. This is a tough reform because the Supreme Court has arrogated to itself all powers with respect to the judiciary - making it unaccountable and inefficient. https://twitter.com/SandeepParekh/status/984645396822507521?s=20