A Critical Review of Indradhanush Plan To Revamp PSBS In India

Abstract

'Indradhanush' means rainbow which is an array of seven-rayed light that symbolizes the prospect of sunny days ahead after the rainy season. The Government uses this metaphor to convey a message that the troubled days are over for PSBs and through the implementation of the seven-pronged strategies of Indradhanush, the health and operational atmosphere of PSBs will be improved to a great extent. The reform agenda, however, generate mixed response from the analysts, bankers, markets and public. In this paper a humble attempt is made to critically introspect the various elements of the 'Indradhanush' plan with a view to highlight the additional measures needed to make the plan successful.