World Economy

India Reforms on Track

India Reforms on Track India Reforms on Track

Confident of pushing the gross domestic product growth higher and continuing the reforms agenda, Finance Minister Arun Jaitley Saturday said one main reform which is still work in progress is ‘ease of doing business’ in India and steps are under way on that front, NDTV reported. Jaitley also said the political opposition is unlikely to obstruct the reform process, including on the direct and indirect tax reforms, and he was hopeful about the goods and services tax getting through as well which is one of the few reforms that has been held up. He said India’s ranking has improved on ease of doing business in the last one year, but more needs to be done. Speaking at ‘The Global Economic Outlook’ session in Davos on the last day of the WEF annual meeting, Jaitley said GST remains very high on the government’s priority while the new bankruptcy law is another major reform measure going ahead. The panelists said India remains a bright spot in the global economy with a growth rate of over 7%, the highest for any large economy.