Policy changes would play a major role in doing business in India
The UK-based bank noted that the government's focus so far has been on micro-level policy changes to reduce bottlenecks and improve efficiency. (Photo: PTI/File)
Mumbai: Standard Chartered Bank on Friday said that the micro-level policy changes introduced by the government would play a major role in improving the ease of doing business in India. However, since the economy still faces cyclical and structural headwinds, the bank said that the impact of these reforms on economic growth might be felt only with a lag.
The UK-based bank noted that the government’s focus so far has been on micro-level policy changes to reduce bottlenecks and improve efficiency.
These changes have taken place in several areas like reducing bureaucratic red tape, providing increased clarity on laws and regulations, introducing large-scale digitisation of government functions, and relaxing environmental and labour rules.
“The policy action taken so far has been broadly in line with our expectations, and we are hopeful that macro reforms will continue until the budget announcement in Febru-ary. Sustained reformist intent could keep asset markets buoyant and keep investors patient as they await a growth reco-very,” Samiran Chakr-aborty and Radhika Kak, macro research analysts at Standard Chartered Bank said in a report.
( Source : dc correspondent )
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