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Narendra Modi, elected leader of the National Democratic Alliance (NDA) will take oath as <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s prime minister for a historic third term on Sunday evening at 7:15 PM. After a decade of full majority governance, Modi will now run a <keyword id="20018803" type="General" weightage="20" keywordseo="coalition-government" source="keywords">coalition government</keyword>, with the Telugu Desam Party and Janata Dal (United) as key partners. Despite being in coalition, experts feel that there won't be much change in the new government's economic agenda. Economists believe that <keyword id="20509939" type="General" weightage="100" keywordseo="Modi-3-0" source="keywords">Modi 3.0</keyword> will not slow down the reforms and to achieve the goal of Vikshit Bharat by 2047, <keyword id="20404815" type="General" weightage="20" keywordseo="economic-reforms" source="keywords">economic reforms</keyword> and policy reviews need to be continued across multiple sectors, including infrastructure, labour, and manufacturing. These reforms are deemed essential to drive economic growth and development in India. "The oft-repeated target of becoming a developed country by 2047 requires far-reaching reforms in the factor market, opening up of the economy and infrastructure development and a thrust towards labour intensive manufacturing. In a coalition environment it may not be easy to carry out big bang reforms, but the thrust of incremental reforms should be in this direction," said M Govind Rao, Member, Fourteenth Finance Commission and former Director, National Institute of Public Finance and Policy. Economists have noted that spending on <keyword id="20229510" type="General" weightage="20" keywordseo="populist-measures" source="keywords">populist measures</keyword> will increase because of coalition politics, however, the government will continue with its focus on "<keyword id="20054650" type="General" weightage="20" keywordseo="Made-In-India" source="keywords">Made In India</keyword>" reforms. Sectors like infrastructure and manufacturing will remain the priority of the government. "There's likely to be a swerve towards greater populist spending and some commitment of resources to states of alliance partners is also likely. But India's public finances are in relatively robust health and to be augmented by significant reserves from the RBI. India's infrastructure spending will continue apace but perhaps with greater private sector participation. Expenditure on defence modernisation and indigenisation will also undoubtedly continue" said Gautam Sen, retired political economist London School of Economics and author, Former member of the Indo-UK Roundtable and Senior Consultant UNDP. The full budget expected to be announced in July, will reflect the economic agenda of Modi 3.0. Many economists expect the Budget will likely see a spurt in welfare and support schemes mainly for farmers and poor. The Budget will indicate the policy priorities for the new coalition government and decide the growth trajectory for the next five years, On the economic front, economists have cautioned the government about the potential setbacks from a sluggish global economy and geopolitical crisis. "One constraint remains the sluggish world economy, which could suffer worse setbacks next year, though Indian growth has risen despite it. The unknown is the impact of external shocks of intensifying wars and uncertainty over energy prices" added Sen. Meanwhile, in a significant boost to the start of Modi 3.0, the Reserve Bank of India on June 7 revised upwards the <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24.

Economists expect big bang reforms to continue under Modi 3.0

<ul><li>Experts believe that the market has mostly priced <keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword>’s win as a single party as well as a BJP-led coalition.</li><li>If BJP gets a single-party majority, progress could be seen in clean energy, and higher infra spending, says <keyword id="19996294" type="General" weightage="20" keywordseo="ubs" source="keywords">UBS</keyword>.</li><li>Women-centric policies have been improving, especially after female turnout was higher than that of males in 2019. </li></ul>As <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> marches towards elections, research firms are projecting various scenarios based on possible outcomes. As per a report by the multinational investment bank UBS, if the ruling BJP gets a single-party majority, there could be policy continuity, which can bode well for business sentiment. Even the elusive private capex recovery might also receive a push. “Further progress in supply-side reforms could be seen, including the clean energy transition, higher infrastructure spending - both digital and physical, a manufacturing push and other targeted policy initiatives towards the youth, poor, women and farmers,” says UBS. Alternate scenarios Experts believe that the market has mostly priced BJP’s win as a single party as well as a BJP-led coalition. If a scenario where the BJP fails to get a majority on its own and a BJP-led coalition comes to power, reform momentum could broadly remain similar. However, some tough policy decisions may not progress and/or are likely to be put on hold, including disinvestments, the land bill, and a uniform civil code. “However, comfort about fiscal discipline could be less of a concern for investors in this scenario,” says UBS about a BJP-led coalition winning. The third outcome could be a weak coalition led by the INDIA alliance. Even in the third case, the economic policy approach would be largely aligned. However, in such a scenario, markets could have concerns about fiscal discipline and a less decisive government, leading to lags in implementing supply-side reforms. “There could also be a delay in the private corporate capex recovery due to weaker business confidence caused by the surprise political outcome,” opines UBS. Rural economy on backfoot Even as the broader economy’s growth has been on track — GDP is expected to grow at 7.6% as per government forecasts — the rural economy has been on a backfoot. Based on FMCG companies’ quarterly earnings, rural market recovery has remained elusive for most of the financial year, barring a few short-lived upticks. Apart from tepid rural wage growth and the government's supply-side measures to contain inflation, rural demand was also impacted by weather-related uncertainty, including the subpar rainfall last year due to El Niño conditions. “However, the Modi government did not announce any substantial pro-rural populist schemes in the run-up to the 2024 elections to entice voters. Instead, the government focused on inclusive growth (partly to cover pandemic shock) with expenditure on rural-focused schemes (including drinking water, employment support, housing and rural roads) up 16% CAGR over FY19-24,” said UBS. Women-centric approach Moreover, the BJP-led government has been focussing on women with policies centred around them, since 2023. This could be also due to the rising percentage of women in the electorate. Particularly, in the 2019 election, female voter turnout was higher than that of males. India has around 970 million people who are above 18 years of age and eligible to vote. Based on the 2019 election turnaround, it’s expected to have 317 million women voters and 340 million men voters in the 2024 election. “The growing inclination of political parties to offer targeted welfare benefits to women (cash support, free bus travel, cooking gas subsidies, women-centric legislation amongst others) is closely linked to the rising percentage of women participating in the electoral process over the years,” says the UBS report. The <keyword id="19895876" type="General" weightage="20" keywordseo="election-commission-of-india" source="keywords">Election Commission of India</keyword> has recently announced that the 2024 general election will be held in seven phases between 19 April and 1 June. The counting of votes will be held on June 4.

Political continuity could bode well for clean energy & infra spending: UBS

<ul><li>Finance Minister Nirmala Sitharaman today announced much-needed reforms in the <keyword id="9233360" type="UNKNOWN" weightage="20" keywordseo="atomic-energy-sector">atomic energy sector</keyword>.</li><li>The announcement included two reforms that invite <keyword id="53482" type="POSITION" weightage="20" keywordseo="Private-sector">private sector</keyword> participation in the consumer application of <keyword id="51931" type="ORGANIZATION" weightage="20" keywordseo="atomic-energy">atomic energy</keyword>, including medical isotopes for cancer treatment and irradiation technology for the agriculture sector.</li><li>In addition to this, Sitharaman is also looking to tap into the start-up ecosystem to bring innovation in this sector.</li></ul>Using the Covid-19 crisis as an opportunity, India is opening up the atomic energy sector for private sector participation. While private sector participation in the highly sensitive atomic energy sector might seem risky, the announcements made by Sitharaman relate to the application of atomic energy in the fields of medicine, agriculture and nuclear research. "Today’s announcement on linking India’s start up eco-system to the nuclear sector through Technology Development cum Incubation Centers is welcome. However, the mechanism should address typical “valley of death” issues which hinder the lab to market journey. Similar experiences in other countries suggest that incentivizing market leading companies to join the R&amp;D efforts may help," said Arindam Guha, Partner, Deloitte India. Government turns to the private sector and start-up ecosystem for innovation in the atomic energy sector The Indian government’s <keyword id="9233361" type="UNKNOWN" weightage="20" keywordseo="atomic-energy-reforms">atomic energy reforms</keyword> look to tap into the bustling start-up ecosystem and the private sector for innovation and research in the atomic energy sector. While two of the three reforms related to the consumer application of atomic energy, the third reform relates to innovation and research in this sector. Here are all the atomic <keyword id="2564570" type="PERSON" weightage="20" keywordseo="energy-reforms">energy reforms</keyword> announced by Sitharaman: <ul><li>Establish a research reactor in public-private partnership (PPP) mode for production of medical isotopes – this will help in developing affordable treatment for cancer and other diseases.</li><li>Establish facilities in PPP mode to use irradiation technology for food preservation – this will compliment agricultural reforms and assist farmers.</li><li>Link the start-up ecosystem to the nuclear sector – technology development cum incubation centres will be set up for developing synergy between research facilities and tech-entrepreneurs.</li></ul>Public sector companies have a monopoly on atomic energy – until now So far, India’s atomic energy sector was dominated by public sector companies like the Nuclear Power Corporation of India, Uranium Corporation of India and others. Now, these announcements will encourage the private sector to invest time and money into atomic energy. The first few benefits could show up in the pharmaceutical sector, giving an opportunity to top oncology pharma companies in India like Novartis Oncology, Roche, Celgene among others to develop affordable treatment for cancer and other diseases. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/now-day-four-of-nirmala-sitharamans-stimulus-plan-as-india-preps-for-lockdown-4-0/articleshow/75774080.cms">Now, fourth tranche of Nirmala Sitharaman's stimulus plan as India preps for lockdown 4.0</a> <a href="https://www.businessinsider.in/business/startups/news/india-sets-up-fund-for-cold-storage-for-farm-products-startups-are-eligible/articleshow/75758088.cms">India now has a ₹1 lakh crore fund to boost farm products storage ⁠— and startups are invited too</a> <a href="https://www.businessinsider.in/politics/news/bjp-narendra-modi-nirmala-sitharaman-push-agriculture-apmc-reform/articleshow/75760189.cms">Modi is using the COVID-19 crisis to push through APMC reforms he has wanted for long ⁠— but states may oppose</a>

India opens nuclear energy space to private players but for cancer research and other consumer applications only

<ul class="summary-list"><li>Biden railed against Sen. <keyword id="12485982" type="UNKNOWN" weightage="60" keywordseo="rick-scott" source="Orion">Rick Scott</keyword>’s economic plan on Wednesday, calling it an ‘ultra-MAGA agenda.’</li><li>Scott’s proposal includes an income <keyword id="12148805" type="UNKNOWN" weightage="60" keywordseo="tax" source="Orion">tax</keyword> requirement that would largely affect lower-income households.</li></ul>President Joe Biden laid into Sen. Rick Scott's controversial <a href="https://www.politico.com/f/?id=0000017f-1cf5-d281-a7ff-3ffd5f4a0000">economic policy plan</a> on Wednesday, calling it "extreme" and a detriment to working Americans."Let me tell you about this ultra-MAGA agenda," Biden said. "It's extreme, as most MAGA things are."Biden pointed to Scott's tax provisions, which would <a href="https://www.businessinsider.com/senator-rick-scott-federal-income-tax-gop-midterm-platform-2022-2">require all Americans</a> to pay some income tax so they "have skin in the game." The Tax Policy Center <a href="https://www.taxpolicycenter.org/taxvox/scotts-skin-game-plan-could-raise-taxes-100-billion-2022-mostly-low-and-moderate-income">found</a> that the plan would raise taxes on <a href="https://www.businessinsider.com/gop-senator-rick-scott-trump-income-taxes-midterm-platform-inflation-2022-2">mostly lower-income households</a>. Households that make below $54,000 would pay for over 80% of such a <keyword id="12206266" type="UNKNOWN" weightage="60" keywordseo="tax-increase" source="Orion">tax increase</keyword>. Under a plan with a minimum tax of $100, the lowest-earning Americans would have paid nearly $1,000 more in taxes in 2022, according to the analysis.Biden also pushed back against Scott's proposals for Social Security, Medicare, Medicaid, and other social programs. The Florida Republican's plan would require Congress to reauthorize such programs every five years. Biden said seniors have paid into Social Security for "their whole life. And it has to be reauthorized?" The president painted Scott's plans as ludicrous, telling journalists at the White House that, "if they hadn't put this in print, you'd think I was making it up.""Under this new plan, this tax plan — the ultra-MAGA agenda — while big corporations and billionaires are gonna pay nothing more, the working class folks are gonna pay a hell of a lot more," Biden said.Scott said on <a href="https://www.youtube.com/watch?v=40_0rqcAYiQ">Fox News</a> that he had listened to the president and that "almost every sentence was a complete lie."Scott's plan has already received its fair share of blowback from Democrats and Republicans alike. Debuted in February, the proposal laid out topics Scott believed Republicans should focus on when campaigning for the 2022 midterm elections. Yet the <a href="https://www.businessinsider.com/rick-scott-tax-plan-mcconnell-republican-senators-critical-conservative-policy-2022-4">GOP was quick to distance itself</a> from the plan. Senate Minority Leader Mitch McConnell said in March that the package "will not be a part of the Republican Senate agenda," adding the party will focus on inflation, energy, crime, and other topics instead. McConnell isn't alone in his opposition. Other Republican senators complained to party leadership about the proposal and attacks they were facing because of it, <a href="https://www.washingtonpost.com/elections/2022/04/18/rick-scott-senate/">The Washington Post</a> reported in April. Many members reportedly "chastised" Scott for creating an unnecessary problem for the party, particularly ahead of elections that are expected to give the GOP control of the Senate.Biden has consistently pushed for higher taxes on ultra-wealthy Americans to offset social spending. His proposals included a <a href="https://www.businessinsider.com/biden-reportedly-plans-nearly-double-capital-gains-tax-for-wealthy-2021-4">higher tax rate</a> when high-earners sell off assets like stocks or real estate — called capital gains — and a <a href="https://www.businessinsider.com/biden-wants-tax-billionaires-wealth-including-stock-gains-2022-3">minimum income tax on billionaires</a>. But Biden's run into his own party-line issues on potential tax hikes, with key centrist Sen. Kyrsten Sinema <a href="https://www.businessinsider.com/democrats-sinema-biden-spending-plans-opposes-tax-hikes-2021-10">continually shooting them down</a>.

Biden says Rick Scott's controversial tax plan is 'extreme, as most MAGA things are'

<ul class="summary-list"><li>The Senate parliamentarian said <keyword id="12134722" type="UNKNOWN" weightage="60" keywordseo="immigration-reform" source="Orion">immigration reform</keyword> can't be part of the $3.5 trillion bill.</li><li>She ruled it is incompatible with the "reconciliation" mechanism being used to pass it without the GOP.</li><li>The decision effectively means that any moves to reform the system will need Republican support. </li></ul>A Senate official on Sunday ruled that Democrats will not be able to include immigration reform measures in their sweeping $3.5 trillion stimulus bill.The decision, by Senate parliamentarian Elizabeth MacDonough, is a harsh blow to Democrats hoping to squeeze changes to the system past with their tiny Congressional majority.The Biden administration and Democrats had hoped to ease immigration rules and provide a path to citizenship for millions of migrants, a plan put in jeopardy by MacDonough's decision.She was able to make the ruling because she oversees the application of the so-called "<keyword id="12134726" type="UNKNOWN" weightage="60" keywordseo="budget-reconciliation" source="Orion">budget reconciliation</keyword>" process, which allows certain financial measures to pass by a smaller margin than usual.Without that loophole, Democrats would need to find support from Senate Republicans for their plans, an unlikely prospect.MacDonough said: "Changing the law to clear the way to [legal permanent resident] status is tremendous and enduring policy change that dwarfs [any potential] budgetary impact," said MacDonough in documents explaining the decision, reported <a href="https://apnews.com/article/joe-biden-immigration-e590795e4593feccb2d966090a633be7">the Associated Press. </a>If Democrats decide to try and pass the immigration reform as a conventional Senate bill, it'd require 60 votes to pass and is all but certain to be blocked by Republicans. Progressives and Democrats have long sought to provide a path to citizenship for migrants from certain key groups who currently inhabit a sort of legal limbo.They include so-called <a href="https://www.businessinsider.com/daca-restored-in-a-massive-legal-win-for-immigrants-2020-12?r=US&amp;IR=TIR=T">"Dreamers" who were brought to the US as children</a>, have lived in the US for their entire lives, but have no formal citizenship.Other groups affected include some refugees allowed into the US because they were fleeing disasters or other catastrophes, and essential workers for sectors such as agriculture are others. "We are deeply disappointed in this decision but the fight to provide lawful status for immigrants in budget reconciliation continues," Senate Majority Leader Chuck Schumer said in a statement."Senate Democrats have prepared alternate proposals and will be holding additional meetings with the Senate parliamentarian in the coming days."Senate Minority Leader Mitch McConnell attacked the Democrats, saying: "Democratic leaders refused to resist their progressive base and stand up for the rule of law, even though our border has never been less secure."He said that attempting to pass the reforms using budget reconciliation were illegal. The overall bill is President <a href="https://www.businessinsider.com/whats-in-the-3-trillion-biden-infrastructure-plan-democrats-are-working-on-2021-8?r=US&amp;IR=TIR=T">Joe Biden's signature piece of legislation, </a>and will aim to fund a wide range of economic, green energy, infrastructure and social care reforms. Democrats are aiming to pass the bill over the next few weeks.

A Senate official dashed Democrats' hopes of expanding citizenship for migrants in the $3.5 trillion budget bill

<ul class="summary-list"><li>President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword>'s Middle East trip, and plan to meet Saudi Crown Prince <keyword id="12060852" type="UNKNOWN" weightage="60" keywordseo="mohammed-bin-salman" source="Orion">Mohammed bin Salman</keyword>, has been hailed as a triumph of "realism."</li><li>The suggestion that the meeting and the trip serve the interests of anyone except MbS doesn't stand up to scrutiny.</li></ul>President Joe Biden's upcoming trip to the Middle East, which will include a meeting with Saudi Crown Prince Mohammed bin Salman (MbS) has been <a href="https://www.theatlantic.com/ideas/archive/2022/06/biden-saudi-arabia-trip-foreign-policy/661256/">hailed</a> by supporters as a triumph of "realism." Yet the implication that this trip — a glorified photo op with no clear deliverables — serves the vital interest of anyone except MbS doesn't stand up to scrutiny.In reality, a visit that ends the Biden administration's commitment to treat the Saudi government as a "pariah" only buttresses a system in which oil-rich authoritarians operate with impunity, secure in the knowledge that major fossil fuel consumers will never demand real change in their behavior.To truly serve the interests of people in the United States and <keyword id="11894587" type="UNKNOWN" weightage="60" keywordseo="saudi-arabia" source="Orion">Saudi Arabia</keyword>, we must pursue a policy that prioritizes major investments in <keyword id="12011391" type="UNKNOWN" weightage="60" keywordseo="green-energy" source="Orion">green energy</keyword> transition and adheres to basic human-rights standards.Green energy investments are necessary to limit the disastrous effects of climate change, and to remove the leverage that keeps US presidents circling back to Riyadh for oil handouts. A strong commitment to <keyword id="11941416" type="UNKNOWN" weightage="60" keywordseo="human-rights" source="Orion">human rights</keyword> helps keep the leverage off by putting the onus for reform on the Saudi government.<div type="image" title="Joe Biden Saudi Arabia" height="1019" width="1358" msid="92830569" hostid="261" sizebytes="81510"></div>US interests are more aligned with Saudi human rights activists and the Saudi public who suffered from tyranny for decades than with violent autocrats like MbS.Reducing the leverage held over the United States by leaders like MbS will lessen the power imbalance between the Saudi government and the <a href="https://www.businessinsider.com/mohammed-bin-salman-jeddah-project-prompt-unprecedented-saudi-backlash-2022-3">people of Saudi Arabia</a>, creating new opportunities for progress in the country, including openings for meaningful participation in government decision making and the resumption of the country's emerging civil society.A policy stance that increases, rather than decreases, the negotiating advantage that MbS and other autocrats with control over oil production have over the United States is not a strategic coup, but a strategic failure. The effects of that strategic failure will be felt in Saudi Arabia and throughout the world.For Saudi human-rights activists, a world where the US president reaffirms that MbS will not face even the most rudimentary forms of accountability for his abuses is a more difficult and dangerous one. The freedom and possibly the life of activist Dr. Lina Alshareef, who has been <a href="https://menarights.org/en/case/lina-alsharif">jailed</a> since May 2021 for criticizing the crown prince, depends on how the administration deals with her jailer.<div type="image" title="Yemen" height="2334" width="3500" msid="92830571" hostid="261" sizebytes="805342"></div>Similarly, Saudi Americans like Walid Fitaihi, Badr al-Ibraheem, and Salah al-Haider are banned from leaving the country, and their freedom to move depends on whether the administration cares for them more than their torturer. In short, Biden's meeting with MbS is a betrayal to human-rights supporters and Saudi dissidents that expected so much more from the president.For those pursuing freedom and climate action around the world, the signal given by Biden's trip could hardly be worse.Letting MbS off the hook in the pursuit of increased oil production not only emboldens the crown prince, but it incentivizes other fossil fuel-rich authoritarians to emulate his actions. It shows that no amount of repression will result in a meaningful decline in relations with the United States, and that no amount of rhetoric about the harms caused by fossil fuels will keep US political leaders from compromising American values to seek increased drilling.Biden consistently <a href="https://www.energy.gov/articles/biden-administration-launches-bipartisan-infrastructure-law-initiative-connect-more-clean">touts</a> the need for renewable energy and <a href="https://www.vanityfair.com/news/2021/12/biden-saving-the-world-from-autocracy-the-challenge-of-our-time">cites</a> the contest between democracy and autocracy as the struggle of the century, but this visit suggests that there is no struggle at all. A world in which MbS remains a leader to be appeased is one in which fossil fuels rule.<div type="image" title="A picture of Saudi blogger Raif Badawi (C) is seen between others photos of prisoners in Saudi Arabia during a demonstration for his release from jail outside the Embassy of Saudi Arabia in Mexico City, February 20, 2015. REUTERS/Edgard Garrido " height="536" width="800" msid="92830574" hostid="261" sizebytes="53058"></div>The Biden administration has tried to preempt this line of criticism by <a href="https://www.bloomberg.com/news/articles/2022-06-13/white-house-plans-saudi-arabia-trip-but-says-it-s-not-about-oil#xj4y7vzkg">claiming</a> that the trip is not primarily about oil but larger security issues throughout the region. This claim is simply not credible. It is impossible to imagine that this sudden reversal to engage with the crown prince of the world's largest oil producing country is unconnected to gas prices ticking over $5 per gallon as the Democrats brace for midterm elections in November.The meeting is about oil and about the mutually reinforcing belief between oil-rich authoritarians and democratic leaders that mollifying oil producers is the highest form of statesmanship.Yet the reality is that no one country, not even a pliant Saudi Arabia, has the power to <a href="https://www.bloomberg.com/opinion/articles/2022-06-21/will-biden-s-saudi-trip-lower-gas-prices">deliver</a> lower gas prices. While on paper Saudi Arabia could replace some Russian oil that has been taken off the market, the reality is the Saudis are <a href="https://www.reuters.com/markets/commodities/biden-unlikely-secure-lower-oil-prices-saudi-arabia-2022-07-04/">nearing</a> their maximum production capacity. That both limits the amount of new oil they can produce and increases the risk premium on each new barrel, thus cutting the potential savings from any increased output.If going to MbS, hat in hand, looking for oil price relief is what passes for realism, it is time to retire the concept. A move to sacrifice Biden's principled stand against Saudi human-rights abuses in hopes of maybe slightly increasing fossil-fuel production does not serve any real US interest.Pursuing that tradeoff only strengthens the leverage of oil-rich autocrats over the United States and does real harm to Biden's credibility as an advocate for democracy. Freeing ourselves from that leverage, through a green energy transition and a real commitment to human rights, would be a foreign policy worth celebrating.Abdullah Alaoudh is the research director for the Gulf Region at Democracy for the Arab World Now (DAWN).Sam Ratner is the policy director at Win Without War.

Biden's trip to make up with Mohammed bin Salman won't help anyone in Saudi Arabia or America

<ul class="summary-list"><li>The debt-ceiling bill includes reforms that aim to speed up construction on energy projects.</li><li>It also claims a West Virginia pipeline is in the national interest — and pushes through its completion.</li></ul>Folded into the <a href="https://www.businessinsider.com/did-senate-pass-debt-ceiling-bill-biden-mccarthy-default-bill-2023-6">debt-ceiling bill</a> that passed the Senate on Thursday are measures that could speed up the <a href="https://www.businessinsider.com/how-4-us-cities-invest-clean-energy-innovation-smart-infrastructure-2022-4">building of energy projects</a> in the US.They are an update of the <a href="https://www.epa.gov/nepa" target="_blank" rel="noopener">National Environmental Policy Act</a>, or NEPA — long a punching bag for critics on both sides of the aisle who say the <a href="https://www.businessinsider.com/manchin-big-win-debt-ceiling-bill-gas-pipeline-environmentalists-hate-2023-5">environmental permitting</a> process for new projects takes too long and requires too many bureaucratic steps."These changes will help us build more quickly and responsibly; build more solar, build more wind, EV chargers, transmission, and the other infrastructure we need to secure a clean energy economy," a White House official said in a <a href="https://www.whitehouse.gov/briefing-room/press-briefings/2023/05/28/background-press-call-on-the-bipartisan-budget-agreement/" target="_blank" rel="noopener">Sunday media briefing</a>.It's a rare bipartisan issue on the Hill. Speaker of the House Kevin McCarthy <a href="https://www.c-span.org/video/?528379-1/house-speaker-mccarthy-news-conference-debt-limit-deal" target="_blank" rel="noopener">on Sunday</a> described permitting as "a frustration with people all across this country on both sides of the aisle. Doesn't matter if you want to build a road, you want to build a renewable energy project, it all gets stopped and studied for years."The reforms in <a href="https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf" target="_blank" rel="noopener">the bill</a> include limiting the environmental permitting process to two years, along with requiring projects to name a single lead agency that would develop one master environmental review document. It also orders a study of US grid capacity to determine what upgrades are needed to strengthen reliability. While some climate activists and progressives have hailed the measures as <a href="https://community.citizensclimate.org/discuss/viewtopic/3318/30396?utm_term=In%20a%20post%20on%20CCL%20Community&amp;utm_campaign=WeeklyBriefing&amp;utm_content=email&amp;utm_source=Act-On+Software&amp;utm_medium=email" target="_blank" rel="noopener">a good start</a>, many are also concerned about the reforms weakening environmental protections. Arizona Rep. Raúl Grijalva, the top Democrat on the Natural Resources Committee, called the NEPA reforms <a href="https://democrats-naturalresources.house.gov/media/press-releases/ranking-member-grijalva-statement-on-environmental-rollbacks-and-mountain-valley-pipeline-provisions-in-budget-agreement" target="_blank" rel="noopener">a "major blow"</a> to the environment and vulnerable communities."There is no room for compromise when it comes to our bedrock environmental laws, especially for communities that have been systematically targeted by polluters for decades," Grijalva said in a statement on Monday. "NEPA is these communities' strongest—and often their only—tool when it comes to protecting themselves against industry wrongdoing. Rather than strengthen that tool, this bill gives polluters a shield, inevitably worsening an already unacceptable status quo."Rep. Melanie Stansbury, who also serves on the Natural Resources Committe, said she "could not in good conscience vote for" legislation that proposed "gutting one of our most bedrock environmental laws.""I am grateful for our President's leadership in protecting the essential climate mitigation and resilience programs in the Inflation Reduction Act and Bipartisan Infrastructure Law, but will be working to restore the critical protections undermined by the passage of this bill," Stansbury said in a statement to Insider. Another measure in the bill that's attracted widespread condemnation, including from Democratic lawmakers, is a provision that would greenlight <a href="https://www.businessinsider.com/manchin-big-win-debt-ceiling-bill-gas-pipeline-environmentalists-hate-2023-5">a West Virginia shale gas pipeline</a> championed by the state's Sen. Joe Manchin. A carve-out for the Mountain Valley Pipeline <a href="https://appvoices.org/2023/03/10/mountain-valley-pipeline-update/" target="_blank" rel="noopener">sparked opposition</a> from environmentalists and some Democrats after five years of construction through national forest land has been slowed due to lawsuits and environmental reviews.Now, the permitting reforms included in the deal would force federal agencies to approve all remaining permits for the pipeline and allow it to bypass the courts and fast-track construction. A spokesperson for Virginia Senator Tim Kaine told Insider the senator is "extremely disappointed by the provision of the bill to greenlight the controversial Mountain Valley Pipeline in Virginia, bypassing the normal judicial and administrative review process every other energy project has to go through. This provision is completely unrelated to the debt ceiling matter."While Kaine <a href="https://www.youtube.com/watch?v=MirvmwramAs" target="_blank" rel="noopener">planned to file an amendment</a> to that provision, the Senate faced a June 5 deadline to pass a debt-ceiling deal before the country loses the ability to pay its bills and <a href="https://www.businessinsider.com/did-senate-pass-debt-ceiling-bill-biden-mccarthy-default-bill-2023-6">sped through votes</a> late Thursday night.And even after the debt-ceiling debates are finally concluded, the permitting reform push is just beginning. Manchin, who is also the chairman of the Senate Energy and Natural Resources Committee, <a href="https://www.utilitydive.com/news/manchin-permitting-reform-hearing-transmission/650157/" target="_blank" rel="noopener">plans</a> to bring more comprehensive legislation to the Senate floor by the end of the summer.The debt ceiling legislation leaves many reforms — most notably building major electricity transmission lines — on the table. Democrats, in particular, have pushed efforts <a href="https://www.reuters.com/business/energy/power-transmission-deal-being-mulled-us-debt-limit-talks-sources-2023-05-25/" target="_blank" rel="noopener">to expand power transmission</a>, which would make it easier for solar and wind projects across the country to connect to the grid. One measure that didn't make it into the House bill would have required that all US grids be able to transfer at least 30% of their electricity demand to other grids. Instead, the bill requires the issue to be studied for two years.

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