Modi orders coal, insurance sector reforms.
Modi, who was elected in May with a mandate to provide jobs and economic growth, has seen his reform agenda stymied by controversial statements by lawmakers in his party
Imports of machinery and transport equipment grew about 40 per cent month-on-month
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The central bank will come out with two measures on restructuring to tackle financial stress, Rajan said.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
Rajasthan has taken the lead on structural reforms which could help India attract business and employ a fast-growing workforce.
The policymaker said the RBI had not reached the point where specific actions were under consideration.
It doesn't appear to be happening yet, even though India's stock market has been Asia's best performer this year.
Industrial production was upwardly revised to 0.5 per cent year-on-year in August from 0.4 per cent earlier.
Consumer food price inflation, under a new series published by the government, eased to 5.59 per cent last month from 7.67 per cent in September.
Despite no change in interest rates, India's largest lender, State Bank of India, last week became among the latest to lower deposit rates, often a precursor to lower lending rates, something some banks have already done for certain consumer loans.
For now, the upside appears to offset damage done to exports by weaker global demand.
Signs of a strong pickup in hiring by companies are adding to the rosier outlook for Indian households.
Benchmark 10-year bond yields hit a 13-month peak as bond traders priced in more aggressive monetary easing next year.
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Companies are legally allowed to invest in markets in India, but the practice has seldom stirred central bank concern until recently, when they have become much more active players.
The rate of price rise in vegetables stood at 15.15 per cent in August as against 16.88 per cent in the previous month.
CPI inflation could fall marginally but stay above RBI's comfort level.
Based on the evidence at hand, Modi's goal of scripting a broader, lasting upturn appears some way off, says Rajesh Kumar Singh.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
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A Reuters poll had forecast retail inflation would edge up to 8.48 per cent from 8.31 per cent in March.
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