[ti:Opposition Blocks India¡¯s Economic Reform Laws] [ar:Mario Ritter] [al:Economics Report] [by:www.51voa.com] [00:00.00]In India, government efforts to reform the economy have slowed. [00:05.58]The reason: the political opposition is blocking the passage of legislation through parliament. [00:13.66]For more than two weeks, India's political opposition has blocked action in parliament. [00:20.35]Opposition members are demanding that Prime Minister Narendra Modi [00:25.45]dismiss his foreign minister and two state leaders. [00:29.72]The targeted officials are accused of corruption. [00:34.50]Mr. Modi's government has refused to dismiss the ministers, [00:40.09]saying the accusations have not been proven. [00:43.98]The dispute in parliament has almost ended the government's hopes [00:50.02]of passing legislation related to tax reform and land purchases in the current term. [00:57.95]Dharmakirti Joshi is chief economist at the ratings agency Crisil in Mumbai. [01:05.18]He says these two bills were the centerpiece of the government's promise [01:11.51]to make India an easier place to do business. [01:15.65]"What is happening in respect to both the bills is that there is delay and dilution of content. [01:24.73]If they don't get cleared, yes, [01:28.00]it will be a hit to the sentiment and it will constraint growth going ahead," he said. [01:33.98]The tax reform bill is known as the Goods and Services Tax. [01:39.27]It aims to create a single market across India. [01:43.95]It would do this by replacing the many different taxes levied [01:49.43]by individual states with a single sales tax. [01:53.76]The land bill would have made it easier for industry to acquire land to put up factories. [02:02.55]However, those plans have also been delayed after the opposition denounced them as "anti-farmer." [02:11.77]Prime Minister Modi is having a difficult time passing laws [02:17.00]because his government does not command a majority in the upper house of parliament. [02:23.13]Satish Misra studies Indian politics for the Observer Research Foundation in New Delhi. [02:31.45]He blames the government for not doing enough to build ties with the opposition. [02:38.43]"They will have to take the opposition on board, only then things will start moving... [02:45.02]the government is not willing to concede even an inch to the opposition." [02:50.11]The political impasse is affecting the Indian economy. [02:54.49]In a recent report, Moody's said the disputes are hurting business confidence ¨C [03:01.27]how business leaders feel about current economic conditions. [03:06.36]The credit ratings agency added that the government's failure [03:11.69]to deliver promised reforms could slow growth. [03:15.19]Prime Minister Modi came to power last year on the promise of restoring momentum to a slowing economy. [03:23.96]Growth has picked up, but the rate of change has been slower [03:29.79]than expected from a man who many had hoped would change India's business climate. [03:37.28]I'm Mario Ritter. [03:39.22]¸ü¶àÌýÁ¦Çë·ÃÎÊ51voa.com