Manmohan hints at fresh reform agenda

Hinting at a fresh push for reforms, Prime Minister Manmohan Singh on Sunday said the government would have to do more to build a favourable climate for drawing investments to end the downturn in the economy. 

“Our government has taken a major initiative in setting up the Cabinet Committee on Investment for far-reaching industrial and infrastructural projects. The committee has made encouraging progress. But much more needs to be done, particularly for building a climate that is perceived to be friendly to enterprise and investment,” said Singh inaugurating 8th Civil Services Day function here on Sunday. 

The prime minister’s remark came just a day before Parliament is set to resume its Budget Session after a month-long recess. It apparently indicated the government’s plan to pursue its reform agenda, notwithstanding the vulnerability of the ruling Congress-led United Progressive Alliance after the exits of the Trinamool Congress and Dravida Munnethra Kazhagam.

“I believe that we are facing only a temporary downturn that we should correct as quickly as possible. Without going into the reasons for the downturn, I wish to emphasise the need for boosting investment across sectors to help us emerge from the existing difficult situation,” the prime minister said.

“Many of you work in areas and organisations that have a direct bearing on the achievement of this task and I would urge you to give the maximum possible attention to it,” he told the participating bureaucrats.

The government is keen to push its reform agenda in insurance and pension sectors during the second half of the Budget Session.