BackManmohan Singh says UPA’s reforms putting India back on track
In his inaugural address to 12th Pravasi Bharatiya Divas, PM listed the steps taken by UPA to usher in transparency
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New Delhi: Prime Minister Manmohan Singh on Wednesday reassured the Indian diaspora that the Indian economy was on the path of revival and Asia’s third largest economy was regaining its place as an attractive investment destination.
Conscious of the beating his government’s image has taken due to numerous allegations of graft among foreign and domestic constituencies, especially in its second term in office from 2009, Singh in his inaugural address to the 12th Pravasi Bharatiya Divas listed the steps and measures taken by the Congress-led United Progressive Alliance (UPA) government to usher in transparency in government processes.
“Our economy has done well over the past decade. In the nine years since 2004, we have averaged a healthy growth rate of 7.9%. There has no doubt been a slowdown in the recent past and we will probably end this year at the same level as last year with 5% growth," Singh said in his speech. Despite this, “our economic fundamentals are strong... in recent months we have also taken a very wide range of decisions to accelerate the implementation of mega infrastructure projects, reform tax administration, improve fiscal management, liberalize foreign direct investment (FDI) and rationalize the system for allocation and utilization of natural resources. With greater political support, we could have legislated deeper reform measures, for example in the finance and insurance sectors. However, our decisions are already begnning to make an impact and India is re-emerging as an attractive investment destination. I am confident you will see the evidence clearly in the next few months."
On measures to introduce transparency in governance, Singh said it was one of the UPA government’s key priorities to “provide open, tranparent, accountable and clean government. The Right to Information, the Lokpal legislation, the public procurement Bill, changes in the systems for allocation of natural resources and empowering our law enforcement and audit agencies are some of the steps we have taken in that direction".
Singh, however, added that the “task was complicated because we have to overhaul entrenched practices and systems while respecting the federal nature of our polity. Strengthening governance is an ongoing process", he added.
Corruption and the need for probity in public life is a theme at the 12th Pravasi Bharatiya Divas with many of the 700 delegates from as many as 50 countries raising the issue at the many sessions of the three-day event.
In a reference to the impending national elections, expected in April-May this year, Singh said :" regardless of the outcome of the next elections, they will once gain demonstrate to the world the strength of our democracy and our institutions."
Singh had last week in a press conference ruled out a third term for himself as prime minister.
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