Jaitley pledges 'second-generation' reforms to kickstart Indian economy

New Delhi

INDIA'S Finance Minister Arun Jaitley promised on Sunday to unveil a series of "second- generation" reforms to try to kickstart the stuttering economy. In an interview with the Press Trust of India (PTI) news agency, Mr Jaitley said the reforms that would be unveiled in the budget early next year would help the country cross the 6 per cent growth mark in 2015-16. "The country needs a larger opening out in more sectors . . . I think we have a lot of exciting times ahead of us and I do see investments coming into India," he told the agency.

Asked about the broad contours of the budget, Mr Jaitley said there was "a whole set of second-generation reforms". The first generation in 1991 opened up India's economy to foreign investment while introducing major trade liberalisation and tax reforms.