'Blanket Privatisation Of Pses Not On Cards'

Q: Could you summarise the new industrial policy?

A: Our Common Minimum Programme (CMP) outlines the policy initiatives that it proposes to undertake in the industrial sector. The basic philosophy is to promote productivity-based growth and employment generation by encouraging modernisation, technological upgradation and international specialisation (wherever possible), to put in place a market-driven industrial structure.

Q: But what does this philosophy actually entail when translated into a policy initiative?

A: The UF government is committed to an industrial growth of 12 per cent in the industrial sector. It is acknowledged that this will require massive capital investment in modern technology. Our government believes that there is ample room for both public and private sector investment. This means that we will continue with the process of deregulation and decontrol, but subject to certain conditions.

 

Q: What sort of conditions?

A: We believe that there are two kinds of economic reforms