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LATEST NEWS UPDATES | No policy paralysis: govt plans report card on economy to silence critics -Gaurav Choudhury

No policy paralysis: govt plans report card on economy to silence critics -Gaurav Choudhury

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published Published on Nov 12, 2013   modified Modified on Nov 12, 2013
-The Hindustan Times

Reforms
New Delhi: With general elections due next year, the UPA has drawn up plans to project itself as a business-friendly regime, as investors are side-stepping India following criticism that the government has been unable to push through enough reforms to revive a stalling economy.

A white paper on economic reforms, under preparation, lists out moves such as allowing FDI in multi-brand retail.

Last week, global ratings agency Standard & Poor's (S&P) maintained a "negative" outlook on the Indian economy and cautioned that it could downgrade the country's sovereign ratings if the next government does not appear capable of reversing the low economic growth.

India's S&P rating of BBB- is just a notch above "junk", which carries a higher risk of default by the government, but placed the onus squarely on the next government to turn the economy around.

S&P's commentary came days after investment banking giant Goldman Sachs projected a bullish run in India's stock markets aided by budding recovery signs such as better corporate profitability and also a probable return of a BJP-led National Democratic Alliance in the 2014 elections.

The white paper on reforms is aimed at blunting criticism that not much has been done on the reforms front.


The Hindustan Times, 11 November, 2013, http://www.hindustantimes.com/business-news/no-policy-paralysis-govt-plans-report-card-on-economy-to-silence-critics/article1-1150028.aspx


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