GROWTH AGENDA BEHIND ECONOMIC SLOWDOWN
Nantoo Banerjee
-
2013-03-22 10:01
India’s two-decade-old economic reform policy is finally exposing its weaknesses. Initially, the reform was all about phased liberalisation of the economy, selectively ending the licence-permit regime, embracing globalisation of trade and commerce in keeping with WTO protocols, easing sectoral restrictions on foreign direction investments (FDI), lifting curbs on foreign institutional investment (FII) in company stocks and domestic fund management, financial deregulation, easier corporate mergers and acquisitions (M&A), transparency in business and government deals, etc.