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BJP calls for restraint in FDI policy 

Sanjay Jog  
Nagpur, Aug 27: Taking a serious note of RSS Parivar's campaign against foreign direct investment policies, the ruling BJP on Sunday asked the Centre to put a restraint and allow FDI in areas where it is necessary.The BJP in an economic resolution moved at its a two-day national council meeting here said the government should take ample care that foreign companies set up greenfield units and were not allowed to acquire existing companies with money raised from the Indian capital market. The BJP's diktat deserves special significance, especially when the RSS, Swadeshi Jagran Manch (SJM) and the Bharatiya Mazdoor Sangh have been a running campaign against the FDI polices while terming them as total sale off to MNCs.

The SJM in its monthly Swadeshi Patrika has alleged that the breakneck speed at which the so-called economic reforms were being undertaken reflected the government's willful refusal to recognise that the country was being pushed into the exploitative regime of external dependence in the name of globalisation.

Referring to many economic tasks in the prevailing economic situation, the BJP national council said the party should impress upon the people that accumulated problems of the last few decades cannot be solved in a short time. The people should be educated about the temporary and transitional problems as India moves from a largely state-controlled economy to a more vibrant and strong people-driven economy.

The national council asked the Centre to announce a package of effective measures to protect and rejuvenate small-scale and cottage industries, in view of the WTO regime. Unless effective steps are taken, the removal of quantitative restrictions (QRs) is likely to have an adverse effect on many domestic producers, especially in agriculture and small-scale industries.

The BJP national council called upon the Centre to assess the impact of globalisation in general and liberalisation of imports in particular on the Indian economy and take corrective steps on time. The party has asked the government to set up a special cell in the ministries of agriculture and small-scale industry to monitor continuously the production and market situation and ensure effective anti-dumping measures.

The BJP has asked the government to remove all restrictions on the nation-wide movement of agricultural products by amending the Essential Commodities Act and start a food-for-work programme in collaboration with state governments in view of the burgeoning food stocks and severe constraints in their safe storage.

The national council stressed the need for revamp of public distribution system to benefit the poorest of the poor and daily wage earners. It called for a proper implementation of schemes such as kisan credit card and Janashri Bima Yojana.

The national council strongly defended the Centre's disinvestment policies. However, it cautioned the government that public monopolies were not replaced by private monopolies during the selection of purchaser or strategic partners for vital national assets.

Preference should be given to Indian entities and wherever necessary, effective regulatory mechanisms are put in place before the government reduces its presence in a vital sector, the BJP national council said.

The BJP called upon the Centre to prepare a crash programme to remove all bottlenecks in power generation, transmission and distribution with the active involvement of the State Government. It also stressed the need for the modernisation of Indian Railways, with a substantial role for the private sector and the state governments.

Referring to the mounting oil import bill, the BJP national council said the government should put in place quickly a nationwide campaign for conservation of petroleum products and harness alternative sources of energy.

Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

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