The Financial Times reported on November 24 that the Modi government will push through more than a dozen key reform bills in the winter session of the parliament (December 1-19) to stimulate economic growth. In order to accelerate the pace of economic reforms, boost investor confidence, and help achieve the goal of "India becoming a developed country by 2047," the Modi government may push through more than a dozen key bills during the winter session of the Indian Parliament, including: The Insurance Laws Bill, which removes the 74% cap on foreign ownership in the insurance sector in India, attracting foreign direct investment; The Insolvency and Bankruptcy Code Bill, which simplifies the process for handling bankruptcy cases, particularly providing an "out-of-court" resolution path, facilitating banks and other creditors to recover their rights; The Atomic Energy Bill, which opens the nuclear power sector to private investors; The Securities Markets Code Bill, which integrates existing related laws, including securities contracts, savings, government bonds, and laws related to the Securities and Exchange Board of India, simplifying compliance procedures. Indian public opinion believes that this reform will help it deal with global uncertainties, especially alleviating the pressure from the Trump administration's plan to impose a 50% tariff on Indian goods exported to the United States. Analysts believe that in order for India to achieve its goal of becoming a developed country by 2047, it still needs to maintain an annual growth rate of around 8%.
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