PM hints at more liberalization of FDI regime

[nrj]

NEW DELHI: Expressing commitment to continue with reforms, Prime Minister Manmohan Singh on Wednesday indicated government will further liberalise FDI regime in the coming months and push the land reforms measures.

"The liberalization of FDI in multi-brand retail, civil aviation and other areas, are important signals. We are reviewing the FDI policy comprehensively to see what more can be done in the coming months," he said at the CII annual meet.

The private sector, the Prime Minister said, needs an environment in which enterprise can flourish and create both jobs and stimulate growth to ensure that it remains inclusive.

"The environment today is not what it should be, and that is what the Government must correct," Singh said adding that more reforms are being considered by the government.

Meanwhile, talking to reporters, commerce and industry minister Anand Sharma said that further liberalization of foreign investment norms could include raising FDI cap in sectors like insurance, banking and defence in a "calibrated and incremental" manner.

Elaborating on other reform measures being contemplated by the government, the Prime Minister said "the Land Acquisition and Rehabilitation and Resettlement Bill has been cleared by the Cabinet and will soon go to Parliament". The long awaited land bill seeks to address problems of the industry with regards to acquisition of land for setting up green field projects.

On the Financial Sector Legislative Reforms Committee (FSLRC) recommendations, he said, they were being "carefully considered" by the government. Headed by Justice (retd) B N Srikrishna, the FSLRC, among other things, has recommended setting up of a unified financial agency as an arching regulator after amalgamation of SEBI, IRDA, PFRDA and FMC.

PM hints at more liberalization of FDI regime in coming months - The Times of India

 

[arnabmit]

Why do positive economic reforms only happen every 5 yrs?

PM hints at more liberalization of FDI regime in coming months - The Times of India

 

[nrj]

Why do positive economic reforms only happen every 5 yrs?

Because FDI will bring in forex which will used to repair holes in national deficit. They had to spend money like no tomorrow until recently to realize that bringing foreign money is the only way out now. When UPA was elected 2009, it had significant majority to carry out these bills but they had other priority. Funny way how reforms work in this country.

 

[thakur_ritesh]

Because FDI will bring in forex which will used to repair holes in national deficit. They had to spend money like no tomorrow until recently to realize that bringing foreign money is the only way out now. When UPA was elected 2009, it had significant majority to carry out these bills but they had other priority. Funny way how reforms work in this country.

I am yet to figure out their other priorities when they took over the reigns of the present government. Was is it all a fault of the NAC? What were MMS, Montek Singh, Pranab Mukherjee, Anand Sharma doing?

Also, they are committed to the millennium development goals and given that, they are bound to further burden the exchequer, of course to be laced as a big give as the polls near.

The little reforms done have had no real impact so far, so what is the PM talking about?

Any significant policy initiatives? Any opening up of the many bottle necks? The budget was no indicator of that, now that 4 years have gone by and nothing much has come about do we cling on to that last straw of hope that in the last year before the polls they will further open up the economy? Unlikely comes the word to mind!

Anyways, the only saving grace will be if the SP walks the talk early enough and ends the misery a little sooner.

 

[anoop_mig25]

Well why wont PM hint after all now they require money for various Rigth`s law

I am yet to figure out their other priorities when they took over the reigns of the present government. Was is it all a fault of the NAC? What were MMS, Montek Singh, Pranab Mukherjee, Anand Sharma doing?

Well apart form MMS , some what chindram i donot think most congress want any reform-cform to be brought in this country (Montek Singh is apolitical and Anand sharma is talking because he is heading commerce ministry).

Divijay singh has clearly told in interview that he doesn`t believe in reforms and whenever congress has brought reforms congress has lost election , so they would always go for welfare scheme