Reforms in governance needed for development: Kamal Nath
Pitching for more reforms in trade and investment, Urban Development Minister Kamal Nath today said there is also need for reforms in governance to bring about more development.
March 08, 2011 / 11:20 IST
Pitching for more reforms in trade and investment, Urban Development Minister Kamal Nath today said there is also need for reforms in governance to bring about more development.
"The next phase of reforms has to happen and along with that we have to look at just not reforms in trade and investment. We could look at reforms in governance," Nath told reporters here after receiving the Report on Indian Urban Infrastructure and Services.Asked about his views on liberalisation and FDI in the urban sector, Nath said, "Liberalisation is a continuous process. What we followed in India starting from 1991 when the reform process started, it was calibrated reforms."He said following the process of calibration, a large number of reforms have been undertaken."We have done a large number of reforms. Some are still required to be done and we have to calibrate this," Nath said.Cautioning against rampant liberalisation, Nath said, "So that Indian industry, Indian financial institutions are able to absorb this (liberalisation). We cannot have rampant liberalisation, you can''t have rampant reforms."
He said the success of India''s reform story is that it is very "India specific, because it is calibrated". Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
