PM dispels fears over reforms pace

With his government better placed than ever to push second-generation economic reforms, Prime Minister Manmohan Singh on Sunday spoke his mind to an industry audience by promising a gradual but steady progress in the long-stalled financial sector reforms. He also assured steps to improve futures markets for better price discovery and removal of the institutional impediments to better intermediation. We need to develop long-term debt markets and to deepen corporate bond markets. This, in turn, calls for strong insurance and pension sub-sectors, he said, signalling far-reaching reforms in these complementary sectors. Specifically, Singh said the government would push through the ...

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