Economic activities provide jobs, generate public income and bring prosperity to nation. For hassle-free growth, India must surmount past legacies and undertake series of legal and structural reforms.
True economic reforms are somewhat similar to bitter pills which provide a permanent cure to ailing economy. Considering past legacies, India must spread economic awareness among every Indian, so that framing of those reforms does not face any road blockade.
Even after 73 years of independence, business laws and regulations are influenced by British colonial legacy, which are indeed difficult to comply with. The laws and regulations are not sacrosanct. If those don't deliver developmental outcome, those must change for the prosperity of nation.
Post-independence, India inherited an efficient system of governance along with a talented bureaucracy; which can deliver amazing results. However, the philosophy of governance should change from the concept of "ruling India" to "developing India". India must surmount colonial legacy for unlocking its growth potential.
Post-independence, India adopted Soviet Union model of economy which did not encourage private investments. Economic policies were based up on the socialistic philosophy, an Indian version of communism. Initially for 30 years, GDP growth was mostly restrained below 4.0%, a "Hindu growth rate". India must surmount socialistic legacy for achieving higher growth and crafting prosperity.
Any productive asset, irrespective of the management control under private or public sector, generates jobs, public income (GDP) and Government income (Tax). That must be treated as a National Asset and be protected in the public interest. Such a message should travel down below the line up to Panchayat level.