Assocham asks PM to hasten reforms process
With the government winning a confidence vote in Parliament, industry body Assocham on Wednesday asked for Prime Minister Manmohan Singh's intervention in speeding up reforms in key sectors of the economy.
By PTI |
NEW DELHI: With the government winning a confidence vote in Parliament, industry body Assocham on Wednesday asked for Prime Minister Manmohan Singh's intervention in speeding up reforms in key sectors of the economy.
A seven-point 'reform agenda' submitted to the Prime Minister and Finance Minister P Chidambaram by the Chamber today covered labour, agriculture, insurance, pension funds, civil aviation, retail and FDIs.
"The Prime Minister and Finance Minister should commit priorities to the nation within a fixed period," Assocham President Sajjan Jindal said in a statement.
The nuclear civil cooperation agreement should now be taken to its logical conclusion at the earliest, Jindal said.
Suggesting distribution of high-yielding varieties of seeds to farmers, the industry body asked the government to usher India into a second green revolution with application of nano and biotechnology.
In the wake of changed political alignments at the Centre, the Chamber stressed upon the need of long due labour reforms with no hire-and-fire policy through a new legislation.
Insurance and banking reforms should simultaneously be pursued by opening up this sector in a phased manner, Assocham said. It also favoured at least 74 per cent equity for foreign partners in the insurance sector.
Civil aviation sector should be opened up and barriers be lifted, Jindal said.
The Chamber sought removal of Press Note 1 which requires clearance from Indian partners of a foreign firm before it is allowed fresh investment independently.
A seven-point 'reform agenda' submitted to the Prime Minister and Finance Minister P Chidambaram by the Chamber today covered labour, agriculture, insurance, pension funds, civil aviation, retail and FDIs.
"The Prime Minister and Finance Minister should commit priorities to the nation within a fixed period," Assocham President Sajjan Jindal said in a statement.
The nuclear civil cooperation agreement should now be taken to its logical conclusion at the earliest, Jindal said.
Suggesting distribution of high-yielding varieties of seeds to farmers, the industry body asked the government to usher India into a second green revolution with application of nano and biotechnology.
In the wake of changed political alignments at the Centre, the Chamber stressed upon the need of long due labour reforms with no hire-and-fire policy through a new legislation.
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Insurance and banking reforms should simultaneously be pursued by opening up this sector in a phased manner, Assocham said. It also favoured at least 74 per cent equity for foreign partners in the insurance sector.
Civil aviation sector should be opened up and barriers be lifted, Jindal said.
The Chamber sought removal of Press Note 1 which requires clearance from Indian partners of a foreign firm before it is allowed fresh investment independently.
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