Prime Minister Narendra Modi¡¯s government is set to introduce sweeping economic reforms in the upcoming parliament session as part of a plan to attract foreign investment and boost growth.
The government will seek parliament¡¯s approval for 100% foreign investment in insurance firms, liberalizing rules in the atomic-energy sector and overhauling laws to expedite insolvency cases. The legislations are part of the parliament session beginning Monday.
Buoyed by a massive electoral win in a key state poll and an economy that expanded over 8% in the last quarter, Modi aims to transform India into a developed economy by 2047 and cement his legacy as one of the nation¡¯s most consequential reformers. He wants the South Asian nation to become a $10 trillion economy by then.
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