FACT: The second generation of reforms, according to experts, would require further freeing of sectors like insurance, banking and retail, strengthening of infrastructure, streamlining of the legal system, removal of corruption improvement of the public delivery system and creation of credible social infrastructure. CII Director General Mr Chandrajeet Banjerjee said, “The time has come for the next level of economic reforms. We would like to see much more happening in sectors like education, agriculture, health care and in adoption of modern technology.” It was on this day two decades ago in 1991, the then Finance Minister Mr Manmohan Singh laid the foundation of economic reforms in his Budget speech in the Lok Sabha and announced concrete steps to decisively move away from the centralised planning regime and align India with the global economy.
(thehindubusinessline.com July 24 2011)
OWL WATCH: Yes, first generation (2G, 3G) corruption will be of no new and second generation corruption is to be watched next.
