New govt should ease land acquisition, scrap archaic labour laws: CEA

It will also have to continue to clamp down on wilful defaulters, money laundering, and tax evasion to restore confidence in the corporate sector, said Krishnamurthy Subramanian

India’s new government should make it easier for companies to acquire land and scrap archaic laws around hiring workers as part of its first reform measures, the finance ministry’s top adviser said.

A new prime minister, expected to be sworn in after results are announced May 23, should bring down the cost of land, labor and capital for Indian companies and enhance their ability to compete globally, Krishnamurthy Subramanian, chief economic adviser, said in an interview Monday. A 2013 law has made acquiring land very expensive and difficult, he added.

“These are areas where we need reforms,” Subramanian said at his office