A report from PTI says that facing all round attack over the
bad state of the economy, Government today said unleashing of
more reforms was the way to deal with the situation and
pressed for ending the “impasse” in coal and iron ore sectors
to push growth.
Finance Minister P Chidambaram listed ten steps including
promoting of manufacturing sector and exports to boost
faltering growth, which needs to be raised to its potential
rate of 8 per cent.
What are the ‘more reforms’? Giving more concession to the corporates and MNCs, giving a free hand to the corporates for mining of Iron ore, coal etc. and probably taking away the restrictions on FDI. This will only help the MNCs and Corporates and not the country and the people. It will only worsen the situation, since the purchasing power of the vast majority of people. The argument for reduction of government expenditure has already come. These all shows how the economy of the country is going down.
Don’t implement more the so called reforms. It is taking the country to further economic crisis.