Government’s reforms transformative: Patel

Reserve Bank of India Governor Urjit Patel on Friday described reforms undertaken by the government as ‘transformative’ and said these would help shape India’s economic evolution.

“The government… has to be lauded for instituting three landmark reforms,” Dr. Patel said at a convocation ceremony of the Meghnad Desai Academy of Economics. “One cannot and should not underestimate the sagacity and uncommon courage of the government to undertake reforms that can only be described as truly transformative,” he said. Dr. Patel identified the monetary policy framework, the Goods and Services Tax and the Insolvency and Bankruptcy Code as the three key reforms instituted by the government.

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