In order to shove India’s economic growth, 15th Finance Commission Chairman N K Singh has said the new government should take on the challenge of introducing reforms in areas including land and labour. He said labour laws remain extremely complicated and there is need to bring reform by revisiting some of the issues like long-term contracts and dispute resolution. Also, there is a need to visit the area of cost, procedure and processes of land acquisition, adding that the cost of capital remain high which needs to come down so that business become globally competitive.
Besides, Singh stated fiscal rectitude is important for sustaining long-term economic growth and is the core of long-term macroeconomic stability. Moreover, he added macroeconomic stability is one of the things that will guide India’s high growth trajectory.
With regard to high debt-to-GDP ratio, he said, this ratio is misaligned with other peer group countries. The effort of the government is to bring this down, and both the Centre and state governments are well on track to bring the debt-GDP ratio to prescribed level. He also said the Fiscal Responsibility and Budget Management (FRBM) Committee 2017 has suggested bringing down the debt-to-GDP ratio to 60 per cent by 2024-25.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: