PM Modi brightens the economic prospects with reforms

The Prime Minister Shri Narendra Modi has made certain reforms in the last week by cutting down the fuel prices, pledging to open up the coal mining for the private players.

The reforms are seen as some of the most significant since the BJP had come up in the ruling phase by the country’s biggest electoral win.

Modi is dedicated and determined to make business in India easy by adopting the make in India approach and simplifying the norms in relation to the manufacturing sector industries and providing with various incentives to boost the growth.

Further, the PM has reduced a cumbersome paper work and thereby reducing the red tapism which would ensure the speedy decision making and actions to be taken for the country.

Expert economists also think that they are expecting more progress on the resolving of the labour issues and bringing in the Goods and Services Tax (GST) that will end a lot of problems of doing business at costlier prices in India.

The government plans in the next parliamentary session to scrap nearly 300 outdated laws. It has already hiked defence and insurance foreign investment caps to 49 percent from 26 percent and announced plans for private-public partnership to build more roads, railway and other infrastructure.

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eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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