Never miss a story

Get subscribed to our newsletter


×
Ken Kang. IANS

India must focus as a priority on ensuring that more women work in the formal sector as it continues with labour reforms, according to Ken Kang, the deputy director in International Monetary Fund (IMF) Asia Pacific Department.

While “in recent years India has made very impressive progress in reforms,” he said that “looking ahead there are important policy priorities” and listed three among them.


“One, is to continue improvements in product and labour market reforms with a focus on increasing formal female labour participation to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks,” Kang said at a news conference on Friday in Washington.

As one of India’s major reform achievements, he mentioned the “introduction of flexible inflation targeting and of a statutory monetary policy which has helped to strengthen the monetary policy framework.”


Working woman. Pixabay

The Reserve Bank of India Act was amended in 2016, to provide for a Monetary Policy Committee that decides on the interest rate required for achieving the inflation target set by the government in consultation with the bank.

The other achievements include the Goods and Services Tax (GST) and the “major recapitalisation plan for the public-sector banks in order to accelerate the work out of nonperforming loans, as well as made some important legal improvements through a new insolvency and bankruptcy law,” Kang said.

“We expect and hope that the reform momentum continues,” he added.

Also Read: Newly Developed Tool to Battle HIV in Women

“We are not saying that India’s structural reform speed will slow down because of elections,” Changyong Rhee, the IMF director of the Asia Pacific Department said.

“What we are saying is that the growth momentum and the structural reform momentum should continue despite the election period. So there is something misquoted,” he added.

On Thursday, IMF Managing Director Christine Lagarde had said at a news conference on Thursday, according to the IMF transcript: “We have seen and we are seeing — I am not sure that we will be seeing in the next few months given the elections that are coming up — major reforms that we had recommended and advocated for a long time.” IANS


Popular

IANS

Rihanna was summoned from her seat to accept the honour, with the Prime Minister.

Singer Rihanna was honoured by Prime Minister Mia Mottley at an event which marked Barbados's new status as a republic, which was attended by Prince Charles. Addressing the pop star by her real name, the PM said: "Robyn Rihanna Fenty tomorrow morning shall have conferred upon her the order of national hero of Barbados."

Rihanna was then summoned from her seat to accept the honor, with the Prime Minister managing to rouse a laugh from the singer when she referenced her 2012 hit 'Diamonds', reports femalefirst.co.uk. She added: "On behalf of a grateful nation, but an even prouder people, we therefore present to you, the designee, for the national hero of Barbados." "And to accept on behalf of a grateful nation - you can come my dear - ambassador Robyn Rihanna Fenty, may you continue to shine like a diamond and bring honor to your nation." Rihanna, who was born in the St Michael parish of Barbados, found fame in 2005 after being spotted by a record producer and has since gone on to become one of the most successful female artists of all time with sales of over 250 million and recently reached billionaire status through her Fenty beauty brand.

The Prime Minister continued in her speech: "Commanding the imagination of the world through the pursuit of excellence, her creativity, her discipline, and above all else, her extraordinary commitment to the land of her birth. "Having satisfied that, Ambassador Robyn Rihanna Fenty has given service to Barbados which has been exemplified by visionary and pioneering leadership, extraordinary achievement and the attaining of the highest excellence to the Government of Barbados." It comes after a historic move for Barbados, which has become a republic after almost 400 years and welcomes its first president, Sandra Mason, after removing Queen Elizabeth as head of state. (IANS/ MBI)


Keep Reading Show less
Pxhere

It's that time of the year when there are festivities galore and entertaining comes to the fore.

By Manav Bhatia

It's that time of the year when there are festivities galore and entertaining comes to the fore. Manav Bhatia, Founder Trunkin shares some tablescapes for the season

Christmas Tablescapes: Whether it's cherry red tablecloths or plush green napkin rings, there's something for everyone. Red and green are synonymous with colour themes this time of year.

red and white candles on white ceramic vase Red and green are synonymous with colour themes this time of year. | Photo by Libby Penner on Unsplash

Keep Reading Show less
VOA

Typically, Glaucoma occurs in people with over the age of 60 however it can occur at any age.

By IANSlife

Have you ever faced eye redness? Or have witnessed blurry or foggy vision? Or experiencing halos around lights? Or nausea and vomiting are very common for you. You may well be suffering from Glaucoma which needs immediate attention.

Glaucoma is the second most common causes of blindness worldwide, according to a report by World Health Organisation (WHO). Typically, it occurs in people with over the age of 60 however it can occur at any age. It is also estimated that globally 79.6 million people are affected with glaucoma, half of them being Asian population. While in India, around 11.9 million people suffer vision impairment and out of which 1.2 million cases are due to Glaucoma. It is a growing concern for the population in India. Even after these high numbers, the enormous majority remains undiagnosed, and untreated. More than 90 percent of cases of Glaucoma remain undiagnosed.

Pink eye Glaucoma is the second most common causes of blindness worldwide, according to a report by World Health Organisation (WHO). | Wikimedia Commons

Keep reading... Show less