Key reforms in winter session: Jaitely


Concedes ‘investor confidence’ is a worry for the government

Conceding that “investor confidence” was a worry for the government, Finance Minister Arun Jaitley on Sunday announced a slew of economic measures the government plans to bring in during the coming winter session of Parliament, in land acquisition, insurance, goods and services tax.

Speaking at the India Global Forum in New Delhi, Mr. Jaitley said one of the principal challenges was to restore confidence, expand economic activity and move towards increasing the growth rate.

Repeating assurances he made at last week’s World Economic Forum, Mr. Jaitley said the government plans to amend the Land Acquisition Act passed by the previous government, to water down clauses such as mandatory consent of 70-80 per cent locals.

Calling on the Opposition parties and State governments to help pass the new Bills, Mr. Jaitley said the government would go ahead with its plans at any cost.

During the month-long session that will begin on November 24, Mr. Jaitley said the government hopes to pass the Insurance Bill too, taking the foreign direct investment cap in the sector from 26 per cent to 49 per cent.

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Printable version | Jan 26, 2020 11:46:15 AM |

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