The Modi govt is planning to undertake major economic policy reforms immediately following the Bihar elections:
Time is of the essence - as soon as the BJP can win in Bihar, it will be in a position to expect the return of Rajya Sabha to its control, thereby overcoming the deliberate stonewalling of the Congress obstructionists. The imperative is to jump-start reforms ASAP, to get the economy rolling on much firmer footing and achieve significantly higher growth. Once we cross that threshold level of growth, then there will be a clear spiraling effect as the global investment community comes onboard towards India. There are no other clear opportunities in the global market right now, so if we act decisively to achieve clear improvements, then the field is free for India to start running towards the goal-posts.
Once the economy really gets rolling, then there is more political maneuvering room to start thinking about the more substantive actions like a TARP, etc, that Shourie wanted.