Economy

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10. INDIA PICKS UP PACE ON ECONOMIC OVERHAUL

Thu Oct 23, 2014, 07:14 AM

Oct 2014

http://hosted.ap.org/dynamic/stories/A/AS_INDIA_ECONOMY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-10-23-02-36-32

NEW DELHI (AP) -- After months of criticism for not moving aggressively enough on promises of an economic overhaul, India's new prime minister has announced a string of policies designed to kick-start Asia's third-largest economy.

Over the past week, Prime Minister Narendra Modi has unveiled an overhaul of India's archaic labor laws, freed diesel prices from state control and signed an executive order promising to open India's coal industry to private companies. He also appointed Arvind Subramanian, a respected Washington, DC-based economist, as the country's top economic adviser.

Modi, who led his Bharatiya Janata Party to a landslide election win in May on promises that he would re-energize India's stumbling economy, faced a flurry of criticism after his July budget failed to provide new direction.

But that appears to be changing, reigniting optimism that India can lift its economic game.

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