We are not anti-reforms: Anand Sharma

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SME Times News Bureau | 22 Dec, 2014
Member of Parliament (Rajya Sabha) and Deputy Leader, Congress Parliamentary Committee, Anand Sharma has said that there was a need for an objective evaluation of the track record of the UPA Government and added that the debate today is not about being reformist and obstructionist.

"When we were trying to open the telecom sector, the civil aviation sector there was opposition. We fought and we won. Also opening of FDI in multi brand retail has seen much resistance. It was we who initiated the process of opening up the defence sector. There has been no change in stance on the opening of defence sector from what we proposed. The government is claiming many things which we have already started."

Speaking at the Luncheon Session of FICCI's 87 th AGM, in Delhi, Sharma said that if any progressive policy change has been made we have always supported it. In fact, the Congress came out with the first revamped version of the FDI policy. And it was during this period we saw massive interest coming in from foreign investors.

"We were the top three favored destination for foreign investors between the years 2009 and 2014. And surely we could have done better," he added.

He said that what we have seen in the past few years is not policy paralysis but partisan politics. Withstanding that we continued to move forward. After the 2008 crisis, the global economy has not recovered much. India is a fundamentally strong economy. Though India witnessed improved growth in the years 2010-2011, the recent numbers are disappointing.

Sharma said that the new government has come in with a lot of euphoria and high expectations. It is indeed very attractive to make promises to people and this requires a lot of boldness and courage for any political party to do.

"We really appreciate that but it also needs to be understood that delivery on these promises is not easy," he added.

He said that a major concern is that the economy is not really looking up. "We left a healthy economy.
The forex reserves were USD 332 billion when we left and the same haven't grown since. The current account deficit is higher despite the fall in crude oil prices. The industrial growth is at a three-year low and no new jobs have been created. Also there has been no new capital formation," said Sharma.

As for the insurance Bill that will be passed, the opposition remains reformist at heart. "If we have a logjam on any policy issue it is not because we are anti-reform. But if the letter and spirit of the Constitution of India is being challenged, it is important to put checks and balances in place," he added.