Fiscal Reforms To Be An Important Ingredient Of New Government

The new government at the Centre will have a 'fairly robust' economic agenda and needs to support fiscal integrity and reforms, Chairman of the 15th Finance Commission, N K Singh said at an ASSOCHAM conference in New Delhi last week. Sharing his outlook at the ASSOCHAM National Conference on Fiscal Policy Roadmap, Singh noted that fiscal reforms will be an important ingredient of the new government. He said further that it would be on the wish list of any serious economist that the new government will put its weight behind fiscal rectitude which is an important ingredient of long - term growth and macro-economic stability. Singh said labour laws were very complex and need to be revisited along with dispute settlement and processes of land acquisition. Referring to economic challenges, he noted that the central worry is revival of investment and getting the growth trajectory back. He said India has moved to a rule- based inflation target to which RBI bound by it.

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