Expressing concern over muted private investments, 15th Finance Commission chairman N K Singh Friday said in order to push economic growth, the new government should take on the challenge of introducing reforms in areas including land and labour.
He also noted that fiscal rectitude is an important intergradient in sustaining long term economic growth and is the core of long term macro economic stability.
Macro economic stability is one of the things that will guide India's high growth trajectory, he said at an event organised by Assocham here.
On the reforms front, Singh said "one single thing that we could not reform was factors of production -- labour, land and capital. We were unable to achieve success on reforming factors of production."
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