Indian Prime Minister wants to ensure more economic reform in India. He is particularly interested about the banking and insurance sector. He expressed this view in an interview with a British newspaper. The Hindu wrote:
“Listing financial sector reform and increase in investment in infrastructure as India's "two biggest priorities," Prime Minister Manmohan Singh has exuded confidence of getting political support on these issues. "Financial sector reform and increase in investment in infrastructure are our two biggest priorities," Singh said in an interview published in Financial Times today coinciding his visit to Britain.
About the obstacles in the way of reforms, he said "politics is the art of the possible and I have to live with the situation I inherited. There have been difficulties, but I have not given up hope. We have not completed half the term.”
Well, the main challenge is coming from the Indian government itself. Communist parties, a key alley in the ruling coalition government, are fighting hard to block reform measures. So, Manmohan Singh has to take care of his own home first. Well, it is a big dilemma for him. On the one hand, if he wants to ensure more FDI then economic reforms are a must. On the other hand, many politicians are against reforms.
Comment Preview