Prime Minister Modi is mindful of the jobs crisis due to the lockdown and realizes that reforms are the only way out, said an official The Centre has identified eight sectors for fast-track reforms with the twin objective of escaping a downgrade of the sovereign by global ratings agencies, as well as attracting companies looking to move out of China, said two officials familiar with the development.
The idea is to show agencies like Standard & Poor’s (S&P) and Moody’s Investors Service that the government was serious about reforms, while striking a fiscal balance, even as it goes for higher expenditure and incentives to restore the health of the economy. “The list of these eight sectors is ready.