FROM THE EDITOR-IN-CHIEF

t the beginning of the Modi government’s first term, two catchphrases held out a lot of promise. They were ‘Minimum government, maximum governance’ and the ‘government has no business being in business’. This was music to my ears. For too long, the Indian state had been occupying the ‘commanding heights’ of the economy. Some were not even that commanding, such as hotels and airlines. Most of them were inefficient and a drain on the exchequer. Sadly, the Opposition jibe of ‘’ in the first term put paid to those slogans, although the government did bring in much-needed reform like the Goods &