press trust of india
NAY PYI TAW (Myanmar), 10 JUNE: India needs another round of reforms for better GDP growth and rid itself of unnecessary regulations to reduce corruption, Paris-based think-tank OECD has said.
“Our basic view is that India needs another round of reforms,” OECD deputy secretary general Mr Richard Boucher said in an interview.
He was here to participate in the World Economic Forum (WEF) on East Asia.
India’s growth rate slipped to a decade’s low of five per cent in 2012-13. In the current fiscal, it is expected to improve to 6.1-6.7 per cent. The Reserve Bank, however, expects the growth to be 5.7 per cent in the current fiscal.
Asked as to what India could do to have improved economic growth, Mr Boucher said: “India needs to do things to increase government efficiency, smoothing the way for projects, reduce regulatory burden on companies and open up some more to competition. So, we think that another round of reforms is necessary.”