Repeating that his remarks about major economic reforms being stalled till 2014 had been reported wrongly,Chief Economic Advisor Kaushik Basu has said India will see some important reforms in the next six months. Thanks to the strains of coalition politics,there is a slowdown in reforms. Nevertheless,we will see some important reforms within the next six months, Basu told PTI. This is in our political and economic interest. But the biggest reform,the GST (Goods and Services Tax),is going to be much tougher. Among the reforms that would be seen is subsidy reform,he said,while FDI in multi-brand retail was very likely to go through. However,according to him,GST may be tougher,because all parties realise this is very good. Therefore,not everybody wants it to happen under the present regime. On diesel, a partial decontrol may be seen,Basu said. He maintained that his remarks about no major economic reforms being possible before 2014 referred to a likely European crisis then and not the Indian general election.
