UPA to embark on an ambitious reforms agenda

mangaloretoday.com/ CNN-IBN

New Delhi, Sept 20: After biting the bullet on diesel price, subsidised LPG cylinders and foreign direct investment (FDI) in multi-brand retail, the Congress-led United Progressive Alliance Government is all set to embark on an ambitious reforms agenda despite severe political opposition, the government even after losing the support of the Trinamool Congress over the tough economic measures has decided to fast-track the disinvestment process.

Manmohan singh-reforms

According to sources the government is confident of reaching the disinvestment target of Rs 30,000 crore in the 2012-13 fiscal. The disinvestment process could start this Diwali with stake sale taking place in small tranches of two-three per cent each to avoid market volatility.

The Securities and Exchange Board of India (SEBI) board is scheduled to meet soon soon to revive market sentiment. Finance Minister P Chidambaram has proposed single window clearance under Prime Minister Manmohan Singh for infrastructure projects.

The government will also identify projects which are to fast tracked by October 15.

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