New Delhi, Oct 16: Prime Minister Atal Bihari Vajpayee today said people should change their mindset that private enterprise was only for maximising wealth for the employers as quick growth in all sectors of the economy and all regions of the country was critical for faster eradication of poverty. ".... India has suffered much because of three types of beliefs. First, the belief that held that private enterprise is only for maximising wealth for the employers. Second, the belief that held that there is fundamental contradiction between the class of employers and the class of employees.

"Thirdly there was a belief among some in the government - and that belief is still there to some extent - that their job is to control everything, and not to facilitate investment and growth," the prime minister said in his inaugural address at the 39th Indian Labour Conference here.

Vajpayee said this mindset had to be changed. "We should replace it with a single overriding belief - namely, that faster growth in all sectors of the economy, and in all regions of our vast country, is critical for faster eradication of poverty," he said.
Observing that the country had made a significant all-round progress since economic reforms were unveiled slightly over a decade ago, he said "our economy is growing stronger by the month - indeed, it is rated as one of the fastest growing economies in the world. .... Reforms have begun to unleash the untapped productivity in our economy." Bureau Report