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'Reforms must to ensure no dearth of funds for social sector'

Press Trust of India  |  Allahabad 

"The UPA government had assumed power in the country with the promise of enabling the people to realise their full potential. To fulfil this promise, it was essential to banish what we call the Inspector Raj and take steps to strengthen the social sector," he told reporters here.

He said India is one of the very few countries in the world to have maintained a healthy growth rate of more than five per cent at a time when many countries are experiencing almost no growth or even negative growth.

"This robust growth rate is crucial for the country as we need massive funds to spend on schemes like MNREGA, NRHM and the proposed Food Security Bill.

We expect a huge inflow of funds in near future as a result of the recent steps which were essentially a step forward in the direction of economic reforms," he said.

To a query, Khurshid said, "the Government is not against subsidy on an essential item like cooking gas per se. But a line had to be drawn somewhere. There had to be a cap on the number of gas cylinders that could be made available on subsidised rates."

First Published: Thu, October 04 2012. 21:45 IST