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Sinha heads GoM for reforms on sector basis

Our Bureau

NEW DELHI, March 24

A GROUP of Ministers (GoM) has been constituted under the Chairmanship of the Finance Minister, Mr. Yashwant Sinha, to identify the various roadblocks to development in each sector of the economy. Its mandate would be to define specific policies for ref orms on a sector by sector basis.

Addressing a joint meeting of the American Chamber of Commerce and Indo-US Business Council, he said that this Group's recommendations would be over and above the various measures that are being implemented to facilitate their growth.

Mr. Sinha dwelt at length on the state of the Indian economy and reiterated that the fundamentals were strong and the country was poised to achieve a 6.8 per cent GDP growth this fiscal.

Meanwhile, the Indo-US Chamber of Commerce came up with a set of recommendations to accelerate the pace of US investments into India in areas ranging from oil & gas, intellectual property rights and information technology.

These included a comprehensive energy policy, regulatory frameworks, removal of financial disincentives, and a `world class' Patent Law.