Economic Reforms

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Submitted By basilm1989
Words 751
Pages 4
Prime Minister Manmohan Singh, who now holds additional charge of the finance ministry, has a free hand to put the reform process back on track, Congress sources have said. And the PM has the support of party chief Sonia Gandhi in his initiative.
Congress sources were of the view that though election results did not depend solely on the country’s growth rate, the latter did play a crucial role in job creation as well as priming investment in social sector flagship schemes.
With the Lok Sabha polls about 18 months away, Sonia and Singh have found a new synergy after the appointment of Pulok Chatterjee as the principal secretary to the PM. The Congress chief is kept in the loop on major reform initiatives and aam admi schemes.
A senior party leader claimed that the global downturn and coalition compulsions were behind the slight slowing down of India’s growth story. He categorically pointed out that the PM, former Finance Minister Pranab Mukherjee or Sonia could not be blamed for the current situation.
Soon after he took additional charge of the finance ministry, the PM had unveiled a series of steps to boost the economy.
This included building infrastructure, increasing energy potential, FDI in retail and aviation sectors, pushing economic ministries into taking steps to boost investment, managing subsidies on food, fuel and fertiliser, thrust on social sector schemes and handling petroleum prices in a rational way.
A clear signal that the Congress had thrown its weight behind the PM on these reforms emanated from AICC general secretary Rahul Gandhi’s public endorsement of FDI in retail, a party member said.
Sources said the party was alive to the aspirations of corporate India and supported structural reforms, including the direct taxes code and Goods and Services Tax (GST), which were needed to boost the economy.
Absolving Mukherjee of…...

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