Reforms Will Be Deepened, Gujral Assures Industry

Its business as usual were the opening words of Prime Minister Inder Kumar Gujrals maiden address in his new capacity at a public forum. Addressing a gathering of industrialists at a special plenary session organised by the Confederation of Indian Industry (CII) in the capital yesterday, Gujral expressed his commitment to strengthening the countrys economic reforms.

Indian industry can look forward to a continuation of the reform programme, and indeed its deepening and widening... I can state this because I am also the finance minister of India, asserted Gujral, seeking to reassure domestic industrialists and foreign delegates about the irreversibility of the reforms.

Gujral made an appreciative reference to the performance of his predecessor, H D Deve Gowda, and promised continuity in the economic policy of the United Front government. In the last 10 months, under Deve Gowda, the economy has started accelerating. We intend to carry forward the process of economic reform and liberalisation speedily and with determination, said the Prime Minister.

Referring to the twin objectives of increased economic growth combined with equitable distribution outlined in the United Fronts common minimum program, Gujral affirmed his governments commitment to pursue the reforms process.

The Prime Minister outlined three thrust areas of his reforms agenda, namely infrastructure development, simplification of procedures and continuation of reforms. He assured Indian industry that its views and comments would be given full attention.

Focusing on the main theme of the CIIs annual session whether a GDP growth rate of 8 per cent is possible Gujral said his government would try to provide the enabling environment for the economy to attain an 8 per cent rate of growth, which is specially desirable in the countrys 50th year of independence.

His promise to the attentive audience that there will be no change in the policy of last 10 months, except for widening of the reform programme and restructuring of the infrastructure sector, was greeted by an appreciative thumping of desks.