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Modi Delivers on Reform Promise

Indian Prime Minister Narendra Modi has delivered on one of his first economic reforms, as promised during his election campaign. Modi and his cabinet have agreed to allow private Indian companies to mine and sell coal. Most of India’s electricity is currently generated by coal and the country has the world’s fifth largest coal reserve. This development is exciting as it will allow India to build an even more resilient and efficient electric grid system. In addition, Modi also plans to privatise the state-run Oil and Natural Gas Corporation. Overall, this new reform initiative will assist in strengthening India’s energy policy, and increasing economic growth in the country.

Link: http://in.reuters.com/article/2014/10/21/india-economy-idINKCN0I90O120141021

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