Coming soon: reforms to boost economy, says Sharma

With criticism mounting on continuing policy paralysis, the government on Thursday promised reformist actions in the next three weeks including those on foreign direct investment (FDI) on politically-contentious issues.

With criticism mounting on continuing policy paralysis, the government on Thursday promised reformist actions in the next three weeks including those on foreign direct investment (FDI) on politically-contentious issues.

HT Image

"We hope that in the next three weeks there will be decisions by the government that will bring about a positive improvement," commerce minister Anand Sharma told business leaders.

"We have taken stock of every issue related to FDI. These are policy pronouncements and I am sure that there are concerns that some decisions got delayed... the government will take the appropriate and correct view, which is in the interest of India's economic growth and development," Sharma told industry captains.

India's economic growth fell to 6.5% in 2011-12, and 5.3% during the January-March period of the current fiscal year, the worst in 9 years.

"We as a government are clear that whatever steps have to be taken shall be taken...and announcements required will made," said Sharma.