Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article

Home > Business > PTI > Report

CMP to balance reforms, development

May 21, 2004 13:51 IST

The Congress-led government's common minimum programme, whose finalisation was being expedited, will balance reforms and development so that tough measures like containing the revenue deficit and cut in subsidies become "painless".

Also Read

2% salary cess to fund job insurance

In a bid to provide social safety net, particularly to the 37 crore (370 million) workers in the unorganised sector, the CMP may propose a two per cent cess on salaries of the organised sector employees to fund the insurance scheme in the unorganised sector.

The CMP, which will provide a roadmap for the economic policies to the new coalition government, may also propose to tone down some of the tough labour reforms like the 'hire and fire' system as contemplated by the previous National Democratic Alliance government.

Congress has already circulated a draft CMP to its allies to be vetted by them. Prime Minister-designate Manmohan Singh has indicated that the CMP would be ready shortly.

Sources said many of the economic issues prioritised in the Congress agenda for action promise to push the economy on a higher growth path of 8-10 per cent.

Singh will have to do a tight-rope walk on the mounting petroleum subsidy bill issue with the global crude prices hovering around $40 a barrel and the Left parties' reluctance to support any hike in the diesel and LPG prices.

He has already indicated that cross-subsidisation could be one of the options, particularly in areas where user charges are not levied like supply of free power to farmers.

© Copyright 2005 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments

 What do you think about the story?

Read what others have to say:

Number of User Comments: 1

Sub: CMP to blend reforms

Dear friends, I oppose the imposition of 2% cess on the employees of the organized sector to insure the unorganised sector employees. why can't they ...

Posted by Prof.B.satyanarayana



Copyright 2006 India Limited. All Rights Reserved.