India's economic agenda remains incomplete: Jairam Ramesh

Observing that India needs to follow the larger lessons that were learnt during the 1991 economic crisis, senior Congress leader Jairam Ramesh today said much of India's economic agenda remains incomplete, including the passage of GST Bill.
"In the last 25 years, India faced unprecedented economic crisis particularly during 1990s. Our exports were stagnant, oil prices went up. But as we look into the next 25 years, much of economic agenda remains incomplete," he said at the 16th Annual General Meeting of Madras Management Association, here.
"Reforms of education is an unfinished agenda. Reforms in health, fiscal system is an unfinished agenda. I know you all have questions in your mind about GST. Even GST is part of an unfinished reforms agenda," the former Environment Minister said.

Noting that India witnessed change of governments and political parties at the Centre in the last 25 years, he said, "even in the last 25 years, India's average economic growth exceeded almost 6.5 per cent. It is certainly very impressive."
Recalling that in 1991 a series of initiatives were taken by the PV Narasimha Rao government which included introduction of a new trade policy, a new industrial and fiscal policy, he said, "India converted unprecedented crisis into an opportunity."
"We have an India today which is a booming economy from the point of investments. About 140 million people have crossed the poverty line.

"However today, we are seeing inequality between regions, inequality between communities. It has gone up. Education and health still remain unreformed as compared to industry and trade," he said.

"One of the main lessons that is relevant today as we look ahead for the next 25 years is that India responds to crisis, magnificently," he said.
"In mid-1960s we had monsoon failure and India responded with the Green Revolution. In 1991 (India was) we were bankrupt, exports were stagnant, imports were increasing, industrial growth were lukewarm. But, we responded magnificently," he said.
Ramesh presented the 15th MMA Award for Managerial Excellence to "Super Auto Forge Ltd", in manufacturing sector, and "Apollo Hospitals" in the services sector.