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Clock ticks on reforms, meeting fiscal deficit target looks difficult

Factory utilisation and capital spending remain low

Reuters  |  New Delhi 

Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014-15 fiscal deficit target. Modi's election victory in May unleashed a rush of money from foreign portfolios betting the reformist prime minister would drive a quick recovery. That has yet to materialise, with both factory utilisation and capital spending low. Parliament convenes on Monday for a month-long session in which the government is confident of passing ...

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First Published: Fri, November 21 2014. 14:39 IST