1. The Modi/BJP/NDA administration inherited an “oligarchic capitalism” and a half-baked social democratic project.
2. Some policy changes under this government, such as the GST reform and the Insolvency and Bankruptcy Code, have had potential to improve efficiency but have been compromised by delays, additional administrative burdens and increased uncertainty.
3. The combination of an apparent increased concentration of mega-deals in some of the largest business houses, and continued importance of state-managed subcontracting for infrastructure, has further contributed to a sense of an incomplete effort to reform India’s capitalism.
The article provides a comprehensive overview of India's economic performance under the Modi/BJP/NDA administration through the lens of political economy. It is well researched and provides detailed analysis on various aspects such as policy changes, financial system overhang, private corporate investment chill effect, public sector banks' role in the economy etc. However, it does not provide any counterarguments or explore alternative perspectives which could be seen as a limitation in terms of its trustworthiness and reliability. Additionally, there is no mention of possible risks associated with these policies which could be seen as a potential bias in favour of the government's approach. Furthermore, while it does provide evidence for its claims made throughout the article, it does not present both sides equally which could be seen as partiality towards one particular perspective.