Survey voices

Updated: Feb 26 2005, 05:30am hrs
Nilotpal Basu, MP, CPI-M

The overall response of the Left parties to the Economic Survey is positive, since it has reflected the main aspects of the Common Minimum Programme. The structuring of both documents (Presidents speech and the Economic Survey) is different compared to the previous years. There is emphasis on social sectors, especially increased spending in education and health. The government is right in emphasising on social and agriculture sectors.

Onkar S Kanwar, Ficci president

The stress on labour reforms in the Survey is heartening. The Survey has noted that the labour laws in competing economies like China and Latin American countries are much more aligned to the requirements of a globalised industry.

SK Munjal, CII president

The Survey has indicated that the economy is on a growth path. The expected growth of 6.9% this fiscal is heartening, coming in the wake of high crude and steel prices and a weak agriculture performance on account of deficit rainfall. However, I am concerned at the continued deterioration of the fiscal balances, as reflected in the high revenue deficit at the end of the third quarter.

Mahendra K Sanghi, Assocham president

I welcome the measures enu-nciated in the Survey for speeding refo-rms in labour laws, FDI in retail, insurance and coal. They are prudent and pragmatic and will lead India to higher growth levels. I also compliment the finance minister for bringing in more services in the tax net. The government should drastically curtail subsidies in energy and fertiliser sectors.