Modi promises priority to manufacturing, infrastructure

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SME Times News Bureau | 05 May, 2014
A BJP-led government will take speedy decisions, focus on reviving economic growth, give priority to infrastructure and manufacturing, and protect the interest of farmers in land acquisition, the party's prime ministerial candidate Narendra Modi has said.

In an e-mail interview with a news agency, Modi outlined his economic vision and said a National Democratic Alliance (NDA) government will seek to clear projects in fast-track mode, push for single-window clearance system, make procedures swift, ensure time-bound delivery and better coordination with the states for faster project clearances.

He said the "present state of policy paralysis" cannot be permitted to continue.

"We have to clear projects in a fast track mode. If there are environment related concerns, they need to be suitably addressed, but all decisions must be taken in a time frame. We cannot permit the present state of policy paralysis and indecisiveness to continue for long," Modi said.

"Whatever little growth we are having that can also be called as a jobless growth. This is because the UPA government has never given adequate emphasis on the manufacturing sector," Modi said.

The Gujarat chief minister said an NDA government will "focus on reviving the economy and growth".

"Our focus is going to be clearly on infrastructure and the manufacturing sector. It will not only encourage investment, but will also produce the required employment opportunities," he said.

He said there was a need to revive investor sentiment and the NDA government will move towards a policy of faster and time-bound project clearances to give a fillip to manufacturing.

On land acquisition policy, he said the first priority has to be on protecting the interest of farmers whose land was being acquired.

"They have to be adequately compensated as per the market rates. As far as possible, we should go through the private purchase route rather than compulsory acquisition. Even where compulsory acquisition is resorted to, the compensation should be decided as consent between the farmer and the acquiring authority," Modi said.

He said a "win-win situation" was possible and farmers should benefit "from development that comes".

Answering a query about priorities in infrastructure, Modi said there was need to focus on areas such as highways, railways, ports and power. He said a BJP-led government will revive the National Highway Development programme.

"It is unfortunate that the very good beginning made by the (earlier) NDA government (of Atal Bihari Vajpayee) was not continued by the UPA in right earnest. We will bring back the focus by connecting the country through a network of good quality highways," he said.

Modi said the government will start work on a high speed rail network.

"The railways have been ignored by successive Congress governments. We plan to begin a journey of transformation to take the railways at par with the most modern rail networks in the world."

Affirming the party's opposition to Foreign Direct Investment (FDI) in multibrand retail, Modi said the party was in favour of FDI which leads to growth, employment opportunities and sharing of new technology.

"I would reiterate our party's commitment to encouraging FDI in various sectors to boost economic growth and to create employment opportunities for our youth," Modi said.