Many more reforms are planned, says govt official

The government has brought in many significant reforms and many more reforms are planned, Corporate Affairs Secretary Manoj Govil said on Tuesday. Govil said India is on course to become the worlds third largest economy and a developed nation by 2047.

The government has brought in many significant reforms and many more reforms are planned, Corporate Affairs Secretary Manoj Govil said on Tuesday. He also said the corporate affairs ministry has started a comprehensive review of various rules and regulations. The ministry implements the companies law, insolvency law, and competition law, among other legislations. Govil said India is on course to become the world's third largest economy and a developed nation by 2047. Currently, India is the world's third largest economy. The government has carried out various significant reforms and ''many more are planned,'' Govil said. He was speaking at the international conference on ''Transparent Financial Reporting & Audit Quality - Pillars of Corporate Governance' organised by the National Financial Reporting Authority (NFRA). After setting up the NFRA, the discussions on audit quality have deepened, Govil said.