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This is an archive article published on February 21, 1998

Cong to carry on eco reforms: Singh

AHMEDABAD, February 20: Former Union finance minister Dr Manmohan Singh said that if voted to power, the Congress will finish the unfinished...

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AHMEDABAD, February 20: Former Union finance minister Dr Manmohan Singh said that if voted to power, the Congress will finish the unfinished task of economic reforms and liberalisation launched by the party in 1991.

Participating in a debate on `Economic agenda for action by various political parties on the eve of the 1998 elections’ organised by the Gujarat Chamber of Commerce and Industry (GCCI), Singh agreed with the organisers’ view that there was a lack of direction in economic policies and the country is drifting towards one of the worst political uncertainties.

Singh also agreed that country was passing through the phase of economic recession. Expressing concern, he said the country has to recapture the "high-noon" business spirit prevailing during the Congress regime.

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"If the Congress comes to power, we will create an environment in which the process of reforms launched by our party can once again be pushed forward," said the architect of the country’s New Economic Policy.

Expressing concernover the collapse of tax revenue which is not conducive for public expenditure, Singh said, if voted to power, the Congress would concentrate on getting the fiscal system in order, lowering the rate of interest, controlling the government expenditure and opening the doors for the public sector investment.

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