Nirmala Sitharaman said that during the first Modi Government, efforts were hampered due to the reduced number of seats in the upper house.
New Delhi| Finance Minister Nirmala Sitharaman said on Tuesday that the government, using a strong majority, will soon begin the process of reforms missed in the previous tenure. She said that this time the government will not miss the bus.
Sitharaman did not explicitly mention the reform efforts that failed in the first term of the Modi government, but her words indicated that she was talking about the land acquisition reform. She said that last time efforts were hampered due to the reduced number of seats in the upper house.
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Nirmala Sitharaman said that the competitiveness of the manufacturing sector is suffering due to external factors such as high land prices, changes in electricity and land use. These are factors outside the scope of the companies, but the government wants to simplify them now.
The Finance Minister said: “I am confident that we will now be committed to rapid reforms.” Her statement comes at a time when many analysts are stating the urgent need for land and labour reforms so that the economy can prosper.
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