ARUN JAITLEY
INAUGURATES SEMINAR ON ECONOMIC REFORMS
The Union Minister of
Law, Justice and Company Affairs Shri Arun Jaitley has said that
acceleration of the pace of development and elimination of poverty
have been the main challenges of economic reforms. Inaugurating
a day long National Seminar on Economic Reforms---Way Forward,
organized by the Institute of Chartered Accountants of India (ICAI)
on completion of its 53 years to mark the Chartered Accountants’
Day here today, Shri Jaitley said that the basic question was
how to add to quality of life of our people and that was the ultimate
issue. It were not the issues that economic reforms were pro-rich,
it created joblessness and resulted in costly proposition. All
these were baseless, he added.
Speaking at length on economic
reforms, Shri Jaitley said that it has brought in its wake, competition,
quality of services and products and improvement in life style
of the people stating that since 1992 there has been ten per cent
reduction in poverty, which has come down to 26 per cent now.
He said that shortages have been eliminated.
Talking of way forward
in the economic reforms the Law Minister said that we must unshackle
our minds from heretofore held views to give impetus to second
generation economic reforms. Success of libleralisation, so far,
owes it largely to the Governments in 1990s and 1999. We must
be char about the directions to move forward as short term populism
did not pay and was counter-productive.
The Minister talked of changes
in the contract law, labour law reforms, and giving a re-look
at the legacy, which needed to be undone.
The Chairman, Centre for Monitoring
Indian Economy (CMIE) and founding Chairman of SEBI, Shri S.A.
Dave, in his keynote address, suggested measures for eliminating
poverty by 2015 as a way forward for giving further thrust to
economic reforms.
The President, ICAI, Shri Ashok
Chandak gave an overview of the accountancy profession and its
crucial role in the economic reforms and globalization of Indian
economy.
