U.S. Senator Hails Reformist Budget Of Modi Govt

WASHINGTON: A top American Senator has hailed several provisions in the maiden budget of the new Indian Government saying it reflected the willingness of Prime Minister Narendra Modi to tackle some of the regulations that have stifled foreign investment in India.

"I am extremely pleased by Prime Minister Modi's willingness to tackle some of the regulations that have stifled foreign investment in the Indian economy," Senator Mark Warner, Co-Chair of the Senate Indian Caucus said.

"With the election of Prime Minister Modi, we have an opportunity to refresh the U.S.-India relationship and work cooperatively to make progress that will benefit both of our countries. This budget is a very productive step in the process," he said.

He praised the budget which includes several provisions for the U.S. and Indian governments such as raising limits on foreign investment.

"I have been working with the Indian government for years to encourage them to lift the caps on foreign investment, as well as to increase opportunities for American firms to bid on Indian infrastructure projects," he said.

Warner had laid out a 100-day plan prior to the beginning of Modi's new Government that included his recommendations for both the U.S. and Indian governments.