Modi's 'lower political capital' to hit implementation of tough reforms, says UBS

A Swiss brokerage stated that Prime Minister Narendra Modi's 'lower political capital' may hinder the new government's ability to implement tough reforms, potentially limiting the growth rate to around 7.5%. UBS Securities highlighted the importance of reforms related to land, farming, divestments, Uniform Civil Code, and one nation one election to boost growth to over 7.5% in the next five years.