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Industry praises CMP; skips privatisation issue
New Delhi, May 27: Hailing as `progressive and growth-oriented` the UPA`s Common Minimum Programme, Indian Industry today pledged its full support for attaining 8 per cent growth while shying away from commenting on virtual U-turn by the Congress-led government on the privatisation process being followed by the previous NDA government.
New Delhi, May 27: Hailing as "progressive and
growth-oriented" the UPA's Common Minimum Programme,
Indian Industry today pledged its full support for attaining 8 per
cent growth while shying away from commenting on virtual
U-turn by the Congress-led government on the privatisation
process being followed by the previous NDA government.
Apex association of industry and trade said that the CMP,
unveiled by Prime Minister Manmohan Singh, provided a clear
map for action of the new government and pressed for
time-bound implementation of the individual elements of the
growth agenda.
While all the chambers skipped the controversial issue of disinvestment as the new government favoured retaining all the Navratna PSUs under its control while normally disfavouring privatisation in profit making psus, FICCI president Y K Modi said, "the CMP has taken a practical view of the disinvestment process".
He urged the government to formulate its privatisation and disinvestment programme for the identified PSUs and press ahead according to an agreed time-bound programme.
His counterpart in CII -- Anand Mahindra said "CMP sought to effectively address the twin objectives of economic growth and social equity. CII would work closely with the government to fulfill these two key objectives."
Congratulating the government for its stance on the public sector, apex body of state-owned undertaking scope said "allaying fears of privatisation shall encourage workforce to concentrate on enterprise development. CMP has struck an extremely encouraging note by addressing critical concerns of PSUs." "Apart from mobilising resources for the government's ambitious plans for provision of education, healthcare and other essential services, this should set the pace for the domestic capital market," FICCI said on the government's stand on the privatisation issue.
Assocham president M K Sanghi suggested that all viable PSUs should be given autonomy to help them take commercially viable decisions and said the government should get rid of the loss-making units.
Extending trade and industry support, Sanghi said, "The government should concentrate on developing world-class infrastructure to attract investments and connect rural India with urban cities". Mahindra said, "The agenda outlined in the CMP will contribute to economic growth as well as ensure that the fruits of this growth percolate to all sections of society."
The initiative to enact a national employment guarantee act and to step up public investment in rural infrastructure and irrigation would benefit rural economy and create employment opportunites, he said.
PHDCCI president Ravi Wig welcomed the government's resolve to improve social infrastructure and raise employment as outlined in the CMP.
Bureau Report
While all the chambers skipped the controversial issue of disinvestment as the new government favoured retaining all the Navratna PSUs under its control while normally disfavouring privatisation in profit making psus, FICCI president Y K Modi said, "the CMP has taken a practical view of the disinvestment process".
He urged the government to formulate its privatisation and disinvestment programme for the identified PSUs and press ahead according to an agreed time-bound programme.
His counterpart in CII -- Anand Mahindra said "CMP sought to effectively address the twin objectives of economic growth and social equity. CII would work closely with the government to fulfill these two key objectives."
Congratulating the government for its stance on the public sector, apex body of state-owned undertaking scope said "allaying fears of privatisation shall encourage workforce to concentrate on enterprise development. CMP has struck an extremely encouraging note by addressing critical concerns of PSUs." "Apart from mobilising resources for the government's ambitious plans for provision of education, healthcare and other essential services, this should set the pace for the domestic capital market," FICCI said on the government's stand on the privatisation issue.
Assocham president M K Sanghi suggested that all viable PSUs should be given autonomy to help them take commercially viable decisions and said the government should get rid of the loss-making units.
Extending trade and industry support, Sanghi said, "The government should concentrate on developing world-class infrastructure to attract investments and connect rural India with urban cities". Mahindra said, "The agenda outlined in the CMP will contribute to economic growth as well as ensure that the fruits of this growth percolate to all sections of society."
The initiative to enact a national employment guarantee act and to step up public investment in rural infrastructure and irrigation would benefit rural economy and create employment opportunites, he said.
PHDCCI president Ravi Wig welcomed the government's resolve to improve social infrastructure and raise employment as outlined in the CMP.
Bureau Report