Major economic reforms to be on hold till 2014: Kaushik Basu
19 Apr 2012
India's chief economic advisor Kaushik Basu said major economic reforms in India would hit the roadblock and would likely not happen before the next parliamentary elections in 2014. He was addressing a meeting at the Carnegie Endowment for International Peace, a Washington-based think tank.
Basu added however, that relatively less important bills might go through parliament.
He added post-2014, there would be a rush of important reforms and after 2015 India would become one of the ''fastest growing'' economies of the world.
He added, the new government, if in majority, would start with the reforms in a big way since there would be a sense that it needed to pick up.
At the same time though, he said there were a number of reforms that needed to go into fast gear and identified the opening up of the retail sector as one key reforms in waiting.
He added, India also needed to address the issue of massive subsidy leakage as also that of poor infrastructure.
