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"Yesterday, Prime Minister Manmohan Singh wanted to make a point (on it) in his reply after the debate on trust vote, but he had to table it due to uproar in Lok Sabha," he told reporters in Jaipur after inaugurating the Sriram General Insurance scheme in Rajasthan.
"We will make all out efforts to take economic reform process forward by passing a number of bills pending in Parliament for the development of the nation," he asserted.
The bills that are due for passage relate to Ministry of Finance, Ministry of Labour, Women and Child Development, and Social Sector, he added.
Chidambaram said the Centre would now reach out to other political parties, including those that voted against the UPA government on the Indo-US nuclear agreement, for faster economic reforms and passing of the bills, including the one on insurance sector.
The bill would enable the government to raise FDI in insurance sector from 26 per cent to 49 per cent, he said.
When asked about the measures for containing inflation, he said, "It is not a new question...we have answered inflation every week...nothing new to add...it is driven by crude oil and commodities prices...it is imported inflation...we have taken monetary measures to curb it".
Now that the trust vote has bee won and the Left is out of the way, the govt. must carry out the reform process with vigour. The infrastructure and PSU must be rejuvenated with private investment and inflation brought undr control by boosting growth and improving supply bottlenecks. The govt. shall have no excuse in future since the stranglehold of the Left, which oposed every sensible policy in the past is over.The PM can travel freely and the FM can revive agriculture and industry at will. Let us have unbridled governance for a change.
Since crude price have come down by more than 10%, at least inflation should come down by 1% here. Right? So next week we will see inflation coming down to at least 10.5%? Watch this space!
Left is out of policy making, but the crony capitalists are not. The internal resistance to reform would be considerable. If govt is able to permit foreign retail, it would sort of prove that crony players are subjugated. Foriegn retail is critical to develop the SME vendor base within India who in next phase will upgrade their process capability for manufacturing exports. The second test would be steps taken to open up land markets, urban and rural for evolution of realty development. Here the political-muscle and crony capital combine have almost total control. Reforms to professionalise this market would be a real test.
These sectors are run by significant amount of black money. Improving tax complaince, making asset valutation totally white so as to facilitate their mortgaging and marketability, are key to professionalisation. Crony capital thrives on black money and political nexus. It would be very difficult to get past them and usher genuine reforms. -----FM is likely to take the easy way out and compromise with crony capitalists.
Crony capital thrives in nexus with dynasty politics. That is how various political dynasties acquire disproportionate say in political process, and considerable presence in media. FM is a qood man, but he obviously has no clout to get past the dynsties. So a pruned set of reform, wriggled out of bargaining process or lobby process would be made. Not the ones which India needs to be an economic super power.
If BJP MP can smuggle cash into parliament due to previlege, why can't they have smuggled the terrorist and weapons duirng the Parliament attack, particularly, when they were on majority. CBI should investigate this matter to find the truth about the terrorist attack on parliament, as till date nobody has clarified, how those terrorist entered the Parliament.
At last PM is free from the tentacles of the left parties who never allowed any development. Now in the next few months PM can concentrate on pressing problems of the country.
Now Vikram has got rid of the Baithal from its back hopefully for ever, urgent attention needs to be given to the mounting problems facing the nation. In this BJP at least now focus on this issue and play a responsible role. Inflation, food buffer stock, procuremet of defence hardware to meet the challenges from North, foreign policy esp with regard to Nepal, tackling the menace of terrorists and naxalites,addressing the low morale of defence forces in the wake of pay commission Report. Indian public, business and industry and the Armed Forces have proved beyond doubt time and again that given proper governance they have made our Country a force to reckon with be it Industry, Finance or Defence of the nation. A Himalayan blunder was averted and kept the wolves at bay. Let the political parties not waste our time and productivity by indulging in Nation wide Dharnas,hartal etc there by wasting enormous amount of time , money and labour.
A lot of time has been spent on one issue of N-deal, keeping aside all the economic reforms due to the opposition of Left parties.The glory of winning trust vote is over. It is time now to go ahead with the pending reforms double fast, taking the help of the opposition parties so that they do not get derailed due to some reason or other.
Yes Mr.FM its not a new question, you have answered it every now and then that you will bring it down and your programs will take time to show its effect. Now at last you have said it is not possible for you to do anything because its driven by crude oil
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