Economists glad with reforms agenda

The economists today welcomed the Economic Survey prescribed reforms in various sectors, but said it failed to accord priority to the listed reforms.

"The survey reflects that the government has laid down the roadmap for reforms. It sounds excellent reform agenda of the government," Yes Bank Chief Economist Shubhada Rao said today after the survey release.

Rao further said the survey highlighted that the government cannot burden itself with too much deficit. Fiscal deficit widened to over 6 per cent last financial year, after economic slowdown forced tax cuts and rise in expenditure.

Axis Bank Economist Saugata Bhattacharya, too, is impressed with the list of reforms in the survey and feels the target drawn for the growth of the country's gross domestic product realistic and disinvestment achievable.

"The growth rate band of 7 per cent projected by survey is realistic and I expect that the economy to achieve it. Further, the survey target of disinvestment of Rs 25,000 crore is also achievable," Bhattacharya said.

However, D K Joshi, principal economist at rating agency Crisil, seems to have a mixed reaction. While he hopes that some of the reforms will see the light of the day soon, he laments the lack of a priority-based action plan.