ECONOMIC REFORMS A PART OF POLITICAL
AGENDA: SHRI PRASAD
The Minister of Information
& Broadcasting, Shri Ravi Shankar Prasad has said that economic
reforms in India today form an important component of political
agenda. He said the impression that the reforms are elitist and
meant for only the upper class of society, has to be removed.
The domestic reforms are as important as the globalization process,
but the pace is a matter of debate, he said.
Delivering the keynote
address at the Annual General Meeting of the American Chambers
of Commerce in India, here today, Shri Prasad said that the scope
of Indo-American relations is very large in the geo-political,
fight against terrorism, civilized democratic behaviour, free
press and even in the military context. He said, a great amount
of maturity is coming about in Indo-American relations because
of commonality of free society, free media, mutual trust and he
hoped these will further develop despite some disagreements, here
and there.
Shri Prasad said
the Indian economy has its inherent strength which is reflected
in its growing foreign exchange reserves, steady growth rate of
over 5 per cent, 50 per cent growth in the software exports decline
in the people living below poverty line from 36 per cent to 27
per cent and containment of inflation rate despite severe drought,
Kargil war and sanctions following the nuclear explosion. He referred
to the great infrastructure thrust and said that 14,000 kilometres
of National Highways are being constructed at a cost of Rs. 54,000
crores, every village is being connected by mettaled road, two
crore telephones have been installed in last two years as compared
to 1.86 crores in the last 50 years and the revolution in the
communication and the broadcasting sector.
Shr Prasad said that
the will and commitment of the Government of India is also reflected
in the enactment of the Competition Law, Insolvency Act and the
Secruitisation Act which would go a long way to facilitate the
reforms and doing away with the archaic laws of the Quota, Licence
and Permit Raj.
