The government is likely to unveil steady reforms to guide its economic policy making to sustain high growth rates in the coming months, The Economic Times has reported.
The broad framework may find a mention in the Budget, which is to be presented on February 1, with details announced later, the report said.
The framework will likely lead to a number of things including greater public-private partnerships in infrastructure projects and policies incentivising private investment proposals.
“Work on firming up the economic policy framework had, in fact, started before the last budget. The framework would encompass details of what, as a nation, we would like to do regularly to be a developed country by 2047,” the report quoted a source as saying.
Moneycontrol couldn't verify the report independently.
In the previous budget, finance minister Nirmala Sitharaman said the government would set up a document to help expand the financial sector in terms of size, capacity and skills. This document would set the agenda for the next five years and guide the work of the government, regulators and financial institutions, she added.
Infrastructure development and financing is likely to be a crucial part of the reforms agenda, the report stated.
The finance ministry has studied many models adopted by the metro rail authorities in Bengaluru, Hyderabad and Pune to see if their best practices can be adopted elsewhere, the report added.
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