Prime Minister Manmohan Singh would expedite action on implementing the long-awaited reforms in the banking, insurance and pension sectors once the government managed to win the trust vote in the Lok Sabha on Tuesday, government sources said on Saturday.
They pointed out that the government was aware that its economic reforms agenda had been stalled by the Left parties and there should be no delay in implementing it.
"We are confident that we will win the trust vote and after that we shall move on implementing pending reform measures," the sources said. In addition, the government believes that no knee-jerk steps should be taken to deal with the current spate of inflation, as any action taken in haste will affect India's economy and employment potential.
The sources indicated that while headline inflation, which has reached near 12 per cent, remains a concern, the government is confident of dealing with it in a systematic manner.
The remarks are crucial given that the central bank is slated to review monetary policy later this month. bs-
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