India's Reforms slow-paced, 7.5% Growth unlikely!

United States State Department made it clear that the Economic Reforms of Narendra Modi's Government are slow-paced and the claims of achieving 7.5% growth rate mayn't turn true.

However, The US State Department appreciated NDA Government for its Economic Reforms, Foreign investment and Streamiling IAS decision-making. But, The report named as 'Investment Climate Statements for 2016' mentioned that Parliament is yet to pass some of the proposals of Centre to introduce new reforms. It mentions about the delay in passing the Goods and Services Tax Bill due to lack of sufficient strength in Rajya Sabha.

The report maintains India is one of the fastest growing countries in the World. But, The 7.5 percent growth rate may effect the Investor sentiment.

Factors like Tax and Policy uncertainty, Poor regulatory environment, Shortage of electricity, Restrictions in service sectors and lack of infrastructure are some of the factors affecting India's economic growth.