As India's gross domestic product (GDP) slowed down to 7.7% in the first quarter of fiscal year 2012, B Muthuraman, president of CII and vice chairman at Tata Steel says apart from the obvious reasons of staggering inflation and the rate hike cycle, lack of government reforms are a major contributor to the growth downhill.
"Governance issues, land acquisition problems and power sector problems with price of imported coal rising enormously are issues that needed to be solved," says Muthuraman. Going forward, if these issues are not dealt with, he says, "I wonDiscover 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!
