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Caretaker govt will carry forward reforms, invigorate economy, PM assures CII

Prime Minister Atal Bihari Vajpayee today said that as head of a 'caretaker government', it will be his 'unflinching endeavour' to take care of the needs of the economy.

''We shall not allow the normal affairs of governance to slacken,'' Vajpayee told the national conference and annual session of the Confederation of Indian Industry.

''We shall return to accomplish our unfinished agenda -- the fundamentals of the Indian economy are strong,'' he said.

''I have faith in the maturity of the electorate to give full mandate to that alliance of parties, which has demonstrated its faith in reforms -- not through words alone but through decisive action,'' he said.

What is required was 'growth, more growth and still more growth,' he said adding that his government will push ahead with its agenda of accelerated internal liberalisation and calibrated globalisation.

He said the government will soon bring out a document on the second generation of reforms with the hope of generating a fruitful nationwide debate.

The unfinished agenda of reforms will have thrust areas, he said.

First, the economic reforms will focus on the elimination of red-tape, so as to make life easier for trade and industry.

He said his government would put an end to unnecessary bureaucratic control and unjustified governmental interference. Timely implementation, and not just good policy-making, would receive the highest priority.

Second, the benefits of reforms would be taken rapidly to those areas which have so far been neglected. This includes agriculture, agro-processing industries and the huge unorganised sector.

Third, his government would make efforts to continue its policy of encouraging foreign investments.

Transparency, stability and continuity would be the cornerstones of this policy. ''We will also fashion an appropriate strategy in relation to all the WTO-related issues, which will secure our national interest while simultaneously enabling India to gain her rightful share in global exports,'' he said.

Vajpayee, however, said economic reforms would not yield the desired results unless Indian business fulfils its social obligations to the fullest.

''It is not enough that politics in India should be value-based. It is equally important that business too should be based on certain basic values and principles that are rooted in Indian culture and are essential for good business in the long run.

"Without this, neither politicians nor businessmen can regain the credibility which they have lost in the eyes of the common people,'' he said.

He said unless standards of education are improved at all levels, the nation will be deprived of the great opportunities that the next millennium holds.

''No longer will our people tolerate a movement marked by one step forward, two steps back, our youth especially are hungry for progress, which is their legitimate due,'' he said.

''Today, I reiterate my commitment to continue this duty -- with the same sense of sincerity that my government showed in the past 13 months,'' Vajpayee said.

UNI

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