Modi Pivots to India Reforms to Shift Focus From Hindu Base

India’s Prime Minister Narendra Modi is putting the flagging economy back on center stage after announcing the biggest privatization drive in more than a decade and making renewed attempts to ring fence the crisis-ridden shadow banking sector, Bloomberg News reported. The country is in the midst of a deepening slowdown amid waning consumption -- the bedrock of the $2.7 trillion economy. And while Modi has targeted transforming India into a $5 trillion economy by 2025, of late, most of his attention has been focused on asserting a more muscular foreign policy and placating the Hindu majority -- his main voting base -- by scrapping autonomy in India’s lone Muslim-majority state of Jammu and Kashmir. On Wednesday, Indian authorities went into overdrive. Read more