Have undertaken maximum reforms, enormous task ahead: PM

Rejecting allegations that his government has failed to pursue ‘big bang’ liberalisation measures, Prime Minister Narendra Modi said he has undertaken maximum reforms but there is ‘an enormous task ahead’.

Modi said many of the changes he has put in place would have been regarded by previous administrations as difficult to implement, but now that he has done them, to his critics they no longer qualify as ‘big bang’."When I came to the government, I used to sit down with all the experts and ask them to define for me what is the 'big bang' for them," he said, adding, "Nobody could tell me."But at the same time, he was quick to add that there was a need to do more.

On criticism about industries finding it difficult to acquire land for projects, Modi said the efforts to amend the land acquisition law at the federal level were "over now" and it is now up to individual states to pursue changes.

He also said he would look to states to further liberalise the country's rigid labour laws, the daily reported."Labour reforms should not just mean in the interest of industry," he said adding, they should also be in the benefit of the labourer.

Responding to a question on Goods and Services Tax (GST) Bill, Modi said he expects the legislation to be passed this year.The GST bill, which has been approved by the Lok Sabha, is pending in Rajya Sabha because of stiff resistance by Congress, the largest party in the House, which had sought certain changes in the bill.The government has been insisting that most of the parties, except Congress, are in favour of GST, which will bring about a uniform indirect taxation regime in the country.

The Prime Minister further said that after coming to power, his government had opened up more of the economy to foreign investment and made changes to curb corruption to fill gaps in rural infrastructure and make it easier to do business.

He also underscored the importance of public sector undertakings in the country."In any developing nation in the world, both the public sector and the private sector have a crucial role to play. You can't suddenly get rid of the public sector, nor should you," Modi added.