Retail FDI win opens way for more reforms in parliament: Kamal Nath
NEW DELHI (Reuters) - The government's double victory in parliament votes on retail reform opens the way for financial sector reform bills to be taken up in parliament next week, Parliamentary Affairs Minister Kamal Nath said on Friday.
He was speaking to reporters after the government won a vote in the Rajya Sabha on allowing foreign supermarkets such as Wal-Mart Stores Inc (WMT.N) to set up shop in India for the first time.
It won a similar vote in the Lok Sabha on Wednesday.
Prime Minister Manmohan Singh's administration will now turn its attention to pushing more reforms, including raising foreign investment caps in the insurance and pension sectors.
"This is the victory for more reforms. In the following week we will bring more financial legislation on economic reforms," Nath said.
"Our reforms are on track," he added.
(Reporting by Nigam Prusty)
- Tweet this
- Share this
- Digg this
- Indian firms tool up for defence orders on Modi's 'buy India' pledge
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- India to tighten up banking risk management - Jaitley
- Chopra joins Tendulkar-owned team in new Indian league
- China economy fears deepen as August HSBC flash PMI at three-month low
Finance Minister Arun Jaitley said on Thursday that the government was working to tighten up risk management in the banking sector, responding to recent scandals that have raised doubts about lending practices at state banks. Full Article