India's BJP election manifesto lacks plans for structural economic reforms, Citi says

Indian Prime Minister Narendra Modi displays a copy of the ruling Bharatiya Janata Party's (BJP) election manifesto for the general election, in New Delhi, India, April 14, 2024. REUTERS/Adnan Abidi

MUMBAI (Reuters) - Indian Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) skipped any reference to structural economic reforms, such as changes to labour and land laws, in its manifesto ahead of elections, Citi economists said in a note on Monday.

The BJP promised to create jobs, boost infrastructure and manufacturing and expand welfare programs such as low-ticket subsidised loans to small businesses if it wins a third term.