In interview with WSJ, Modi defends his economic reforms

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New Delhi, May 26: Prime Minister Narendra on Wednesday took on critics for accusing him of failing to execute major economic reforms to revamp the country's economy and said he set up a path for accelerated growth that India's states now require.

Speaking to the Wall Street Journal in an interview [click on the video below] on the eve of his second anniversary in the office of the prime minister, Modi said his government has opened up the economy to foreign investment more besides making efforts to tackle corruption, improve rural infrastructure and make the environment more business-friendly. [Follow other stories on 2 years of Modi govt]

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He said he has "undertaken the maximum reforms" and has "an enormous task ahead" for himself.

Modi, who took oath as India's 15th PM on May 26, 2014, also said that he expects the Goods and Services Tax bill, a major reform measure to put in place a more business-friendly regime but is facing political hindrances, will be passed in Parliament this year.

The bill has been stuck in the Rajya Sabha where the BJP-led NDA is in a minority. The Modi government has not been successful in developing a political consensus to help the bill get approval.

 

The interview happened ahead of his visit to Washington which is scheduled early next month. Modi will meet US President Barack Obama and address a joint session of the US Congress during this visit.

Modi said he has developed a relationship with Obama whereby they can speak freely with each other.

The PM also said that India no more stands in a corner, unlike before.

On the question of big bang reforms, Modi said after taking over the responsibility, he used to sit with the experts and asked them to define 'big bang' for them. "Nobody could tell me," he told the interviewers.

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