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India: More Policy Reforms in Next Couple of Months
Source: economictimes.indiatimes.com
Source Date: Wednesday, January 23, 2013
Country: India
Created: Jan 29, 2013

DAVOS: Asserting that India continues to be a "very good" investment destination, Urban Development Minister Kamal Nath today said the government would roll out more policy reforms in the next couple of months. Nath also said stress and distress are in Western economies, not in India. He is leading the Indian delegation at the World Economic Forum ( WEF) annual meet here. "Policy reforms will continue and we will roll out more (reforms) in next couple of months," Nath, who is also in charge of Parliamentary Affairs, told PTI here. In response to a query on whether the government would continue with policy measures for economic reforms on top of the recent decisions, he said" "Yes we are continuing." Nath, who was instrumental in pushing the FDI reforms in the Parliament last month, stressed that the country is an attractive investment destination.

"India continues to be a very good investment destination and we have no stress or distress in our economy. The stress and distress lie in the western countries today. India is adapting to growth realities and the US and Europe are in distress," the Minister said. In recent months, the government has unleashed a wave of reforms to bolster the sagging economic growth, which is expected to be around 5.7 per cent in the current financial year ending March 31, 2013. The major reform measures include liberalisation of FDI norms in multi-brand retail and aviation sectors and partial de-regulation of diesel prices. Besides, steps have been initiated to keep subsidies under control.
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