Red tape, Raj combine to strangle Indian reforms

An Indian Parliament deadlocked yet again over corruption scandals threatens Finance Minister P Chidambaram’s ambitious reform agenda, dealing a harsh dose of political reality on the heels of his North American roadshow to sell the India story.

Two long-stalled reforms - one to lift the foreign ownership cap in insurers to 49 per cent from 26 per cent and another that would simplify land acquisition for factories - were due to be introduced in the legislature during the past week ended up being side-tracked by the political ruckus.

via Business feed http://www.scmp.com/business/banking-finance/article/1225860/red-tape-raj-combine-strangle-indian-reforms