The Chief Economic Adviser to the Finance Ministry, Dr Kaushik Basu, on Tuesday said coalition politics is holding back reforms in the country especially in the areas of FDI in retail and decontrol of diesel price. Delivering the Dr V.K.R.V. Rao Memorial Lecture, Dr Basu said to boost the morale of investors , India needs immediate reforms in these sectors. “I would stress it would benefit farmers in a large way. This would allow small farmers and small producers to get hooked on to the global supply chain. The way China and Indonesia have done,” he added. “Some part of the political group does not seem to understand. But there is political consensus among top political leaders but coalition politics is holding back reforms,” he added. Watch more on this story.
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