Industry hails PM's determination to see reforms through
Saturday September 22, 2012 05:54:37 PM,
IANS
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New Delhi: The
industry in India Saturday praised Prime Minister Manmohan Singh
for his determination to push through reforms in the face of
strong political opposition.
"With his action last week and address to the nation last evening,
the prime minister has unambiguously sent a message that the
government is determined to see through the reforms that have been
at the centre of a political controversy lately.
"This is most encouraging and CII congratulates the PM and his
cabinet colleagues for staying the course on reforms," said
industry lobby Confederation of Indian industry (CII).
"CII hopes that this is the beginning of a series of reforms that
the country needs to arrest the economic downtrend and to ensure
higher growth for greater inclusiveness," said CII president Adi
Godrej in a statement.
Drawing attention to the first round of economic liberalization of
early 1990s, CII said there was pain and apprehension then.
"We are two decades down the line. I don't think there is anyone
in India who feels we embarked on the wrong path then, looking at
it in hindsight," Godrej said.
"It is to be noted that every government since then, irrespective
of their political colour has taken that process forward. The
economic logic of these reforms has been too compelling for anyone
to ignore," he added.
According to him, even the benefits to the larger population has
been so pronounced that no one can criticize these measures.
Per capita income of India has grown several fold and India is the
second fastest growing large economy of the world and we have also
seen poverty come down over the last two decades, he said.
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