Karuna cautions UPA against 'hasty' reform announcments

"My opinion is that hasty decisions and announcements in the name of economic reforms should be avoided. They should be taken after deep consultations and keeping in mind the future prospects of the country," DMK president M Karunanidhi said.

Responding to a set of questions in party organ "Murasoli," he cited lack of consensus among UPA ministers over the proposed National Investment Board (NIB) and said media opinions were also against it.

The proposed NIB, touted as the next major economic reform by the Manmohan Singh government and backed by Finance Minister P Chidambaram, is expected to act as a catalyst for large projects, including roads, petroleum and mines.

It has, however, come under flak from Union Environment Minister Jayanthi Natarajan and K C Deo holding the Tribal Affairs portfolio.

Karunanidhi, whose DMK is the second largest UPA constituent with 18 Lok Sabha MPs, continued to voice concern against FDI.

Recalling excerpts from a speech by his nephew and party colleague, late 'Murasoli' Maran, he said the former had argued against FDI as early as in 1992 in Rajya Sabha. "His remarks are valid even today and therefore we have to fit them in today's context."

Karunanidhi, who had criticised External Affairs Minister S M Krishna for writing to Prime Minister Manmohan Singh against release of Cauvery water by Karnataka to Tamil Nadu, describing it as a big mistake," said the same applied to Corporate Affairs Minister M Veerappa Moily for his similar views.