No policy paralysis in government, says Sharma

"As far as we are concerned, we are very clear in our policy and approach. We recognise the challenges, we recognise the pressures ... This government is taking decisions. There is no question of policy paralysis or lack of decision making or governance", he said, replying to a debate on demands for grants for his ministry.

The Minister was responding to concerns expressed within and outside the House that the government is hit by policy paralysis because of political reasons and has not been able to take tough decisions needed to promote economic growth.

Sharma, however, said that government has taken various policy initiatives to promote industrial activity and economic growth.

As regards exports, the Minister said, the country has been able to achieve the USD 300 billion target during 2011-12 despite the adverse global economic climate.

Rising trade deficit, which was about USD 180 billion in the last fiscal, was a matter of "grave concern" for the nation, he said.

Attributing the rising trade deficit to high import of crude oil (about USD 160 billion in 2011-12) and gold (USD 60 billion), Sharma said, the government would continue to work with all stakeholders to push country's exports and raise India's share in the global trade.

"We live in a world, where we have to engage with each other. We cannot insulate ourselves from what is happening in the rest of the world," he said. (MORE) PTI TA RMI CS SMI