India's reform process slow, but irreversible, says FM
Published on Thu, Apr 01, 2010 at 22:00 | Source : Moneycontrol.com
Updated at Fri, Apr 02, 2010 at 18:45
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India's reform process slow, but irreversible, says FM
Speaking at the Reserve Bank of India's (RBI's) platinum jubilee celebrations, Finance Minister Pranab Mukherjee said that the economic reform process in the country, though slow, was irreversible.
Speaking at the Reserve Bank of India's (RBI's) platinum jubilee celebrations, Finance Minister Pranab Mukherjee said that the economic reform process in the country, though slow, was irreversible. "There is a need to harmonise financial sector laws and give some autonomy to the financial institutions."
Though India remained the most-preferred destination for investment, according to Mukherjee, it was striving for a well-regulated and free market economy. "We must work to attract more foreign investment," he said.
He also spoke about the role of the super regulator in the coming years. He said the Financial Stability and Development Council (FSDC) was not a super regulator and was not to undermine the role of the existing regulator.
