This agenda can be encapsulated in what I call the L.A.D.L.A reforms – Land, Agriculture, Digital, Labour and Administrative Law -- that can reshape India's economic and social trajectory towards its Viksit Bharat focus.

Land Reforms

Land disputes constitute a significant proportion of cases burdening the Indian judicial system, spanning across various jurisdictions and levels of governance. To address this challenge effectively, comprehensive land reform is imperative, aimed at streamlining processes and reducing litigation costs and time.

The Government of India, as the largest litigant in such disputes, bears a profound responsibility to simplify existing laws, fostering trust and confidence among its citizens. Land, a precious and finite resource, holds the key to sustainable development and inclusive growth.

As India charts its course towards equitable land distribution and responsible utilisation, it must integrate principles of sustainability and promote judicious urbanisation. How India chooses to urbanise in the coming years will profoundly impact its citizens's well-being, public health, natural resource management, and overall fiscal health.

Thoughtful and strategic urbanisation will shape the quality of life for millions, determining access to essential services, green spaces, and efficient infrastructure. Moreover, sustainable urban planning will play a critical role in conserving natural resources and ensuring that urban growth is balanced with environmental preservation.

The fiscal health of the nation is also at stake, as effective urbanisation can lead to more efficient resource allocation, reduced costs, and enhanced economic opportunities. Ultimately, the approach to urbanisation will be a defining factor in creating vibrant, liveable cities that enhance the quality of life for all citizens.

Agriculture Reforms

Agriculture plays a pivotal role in several key aspects of India's socio-economic landscape. Firstly, it serves as the cornerstone of food security, catering to the needs of the nation's vast population as the primary source of sustenance. Additionally, agriculture is a major contributor to livelihoods, employing approximately 58 per cent of the workforce and significantly impacting the country's GDP.

Moreover, it serves as a vital driver of export earnings, with India exporting a diverse range of agricultural commodities such as rice, wheat, sugar, fruits, and vegetables. Furthermore, agriculture plays a crucial role in fostering rural development by generating employment opportunities and income in rural areas, thereby contributing to poverty reduction and overall economic growth.

Several key agricultural reforms have been implemented in India, encompassing various aspects of the sector. Land reforms have been instrumental in altering land ownership and usage patterns, involving redistributions from large landowners to small-scale farmers and revising land ownership regulations.

Market reforms have focused on enhancing the efficiency of agricultural markets by eliminating price controls and liberalising them to foster competition, including opening them up to foreign players. Technological reforms have sought to modernise the agricultural landscape by introducing new seeds, fertilisers, pesticides, and farming techniques.

Meanwhile, institutional reforms have aimed to enhance policymaking and implementation processes by bolstering agricultural research and extension services and refining the governance structures of agricultural markets. These multifaceted reforms signify a concerted effort to catalyse progress and sustainability within India's agricultural sector.

Improving Indian agriculture entails a multifaceted approach addressing key challenges and leveraging opportunities for sustainable growth.

Firstly, investment in irrigation infrastructure is paramount to augment crop yields and mitigate the risk of crop failure induced by droughts. Secondly, promoting the adoption of modern technology, including improved seeds, fertilisers, and pesticides, is imperative to optimise agricultural productivity.

Additionally, restructuring fragmented landholdings is essential to facilitate the adoption of modern farming practices and enhance productivity, with government support in providing financial assistance to farmers being crucial in this endeavour.

Moreover, ensuring access to credit for farmers is vital to enable investments in farm upgrades and productivity enhancements, with initiatives such as establishing rural banks and offering subsidised loans being pivotal in this regard.

Furthermore, addressing market volatility through mechanisms such as price supports can safeguard farmers' incomes, ensuring fair compensation for their produce despite fluctuations in market prices. By implementing these strategies cohesively, India can unlock the full potential of its agricultural sector and bolster food security, livelihoods, and rural development.

Agriculture remains the backbone of India's economy, yet it is plagued by inefficiencies and challenges. The time is ripe for comprehensive reforms that empower farmers, enhances productivity, and ensures food security for all. Will the political ecosystem of the present allow for such narrative?

Digital Reforms

India's s trajectory in digital transformation has been commendable. Yet, its journey to unlock the full potential of emerging technologies across Artificial Intelligence, quantum computing, and semi-conductor chip manufacturing demands a concerted effort to fortify its STEM -- Science, Technology, Engineering, and Mathematics -- ecosystem.

This journey begins with bolstering educational infrastructure and amplifying investments in research and development. By prioritising the enhancement of STEM education at all levels and augmenting R&D investments, India can lay a robust foundation for innovation and technological breakthroughs.

Such a proactive approach not only fosters a skilled workforce capable of driving digital innovation but also ensures that India remains at the forefront of the global technological landscape. However, to do so, over next many years, the country must allot larger funds to these initiatives.

Labour Reforms

The most pressing challenge facing the Indian economy lies in its inadequate employment elasticity within the current pattern of economic growth. Unlike other major economies, each unit of GDP growth in India generates disproportionately fewer jobs, exacerbating concerns about the fragility of the employment landscape.

This trend is further compounded by a prevailing ideology favouring investor convenience over the quality of employment opportunities. To address this issue effectively, there is an urgent need to reform India's labour laws to incentivise increased investment while concurrently enhancing the caliber of employment opportunities available.

The workforce is the backbone of any economy, and ensuring their rights and well-being is paramount for sustainable development. Labour reforms that strike a balance between flexibility and protection, promote skill development, and facilitate job creation are essential for fostering a dynamic and inclusive labour market.

Although both houses of parliament passed new labour codes in 2020, their implementation has been delayed due to resistance from worker unions opposing the simplified hiring and firing regulations, along with constraints on trade unions.

The government argues that consolidating 29 disparate laws into four labour codes will guarantee a minimum wage for over 500 million Indian workers and extend social security benefits to a significant portion of them. While the grassroots voter sentiment favouring more and better employment opportunities has been loud and clear, will we see political groups aligning to a consensus policy on labour reforms?

Administrative Law Reform

India must urgently recodify its long pending administrative law comprehensively and cohesively. This reform must include constitutional provisions defining the structure and powers of administrative bodies, delegate authority, and grant financial independence to the lowest levels of administration, such as gram panchayats and municipal authorities.

It must also establish principles of natural justice to guide administrative actions. Comprehensive administrative law is essential for ensuring accountability among public servants and officials. A well-defined code of conduct, supported by robust legal provisions and technology, will hold those in power accountable for their actions, maintaining citizens' trust and upholding the rule of law.

Administrative law reforms must simplify bureaucratic procedures, enhance accountability, and promote citizen engagement to achieve more responsive and effective governance. By embracing a culture of continuous improvement and innovation in public administration, India can build a resilient and responsive state machinery that effectively serves the needs of its citizens.

Since the Indian government is now a coalition with multiple political parties, the L.A.D.L.A reforms will necessitate extensive coalition collaboration and thorough deliberation in parliament.

Coalition governance demands consensus-building, making it crucial to incorporate inputs from all parties to align diverse interests and perspectives. Together, these reforms can transform India's landscape, driving progress that benefits all citizens and establishes India as a global leader in the 21st century.

(Srinath Sridharan is a Mumbai-based policy researcher and corporate advisor. Views expressed are personal)