The prime minister of India Narendra Modi's Bharatiya Janata Party (BJP) omitted any mention of structural economic reforms, such as alterations to labour and land laws, in its manifesto leading up to the elections.
This is according to a note by Citi economists on Monday.
If it secures a third term, the BJP pledged to focus on job creation, enhance infrastructure and manufacturing, and broaden welfare initiatives, including offering subsidised loans to small businesses.
"It could be a bit of a disappointment that the "big-bang" structural (but contentious) reforms of land, labour, agriculture, privatisation, opening up to foreign investment etc did not find any mention in the manifesto," Citi economists Samiran Chakraborty and Babar Zaidi said, going on to say that these could be announced at a later date.
The general election gets underway on 19th April and will take place over seven stages until 1st June. The results are expected to be announced on 4th June, Reuters news agency reports.
Modi is widely expected to maintain power based on his 10-year track record, characterised by robust economic growth, extensive infrastructure development, welfare initiatives, and an assertive stance on Hindu nationalism.
"At a broad level, the manifesto is more tilted towards continuity than change," Citi stated.
The manifesto features a robust infrastructure agenda, encompassing plans to construct 28 kilometres per day (17.4 miles) of national highways, introduce three new high-speed bullet trains, and expand the metro network.
"There is a definite aspiration in the manifesto towards making India a power to reckon with in global manufacturing," the economists continued.
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