India, Aug. 25 -- Two of India's biggest reforms-replacing 17 central and state taxes with a nationwide goods and services tax (GST) and putting in place a sophisticated ecosystem for dealing with industrial sickness-highlight Arun Jaitley's tenure as Union finance and corporate affairs minister during the previous term of the Narendra Modi government.

In 2014, the National Democratic Alliance (NDA) inherited an economy which was struggling with over-leveraged companies and banks saddled with a mountain of toxic assets. The situation called for tough action, not only to fix the problem but also to resolve the larger issue of credit indiscipline among companies and an inefficient legal system dealing with bankruptcies. Jaitley presided ov...