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'India is at the edge of explosive growth'

Interview

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Our Economy Bureau New Delhi
Last Updated : Jan 28 2013 | 2:19 AM IST
 In the clutter, there is a chess board, a stack of CDs, crystal paperweights, defence memorabilia, and books on top of books. Autographed photographs of the minister with world leaders crowd one side unit. Laxmi peers down from a wall. Gentle sunlight filters in.

 Jaswant Singh's mood on a Saturday morning matches the mood created in this vast, wood-panelled room that must have been witness to many economic crises.

 Today, there is a sense of quiet contentment. There is a feel-good factor in the economy, India is at the edge of criticality, of explosive growth, he says in answer to questions. There are problems to address, of course, many things to be done, and not enough good people around him to help with the task. But he soldiers on.

 Excerpts from a 45-minute conversation:

 In a pre-election year, what are the pressures you face?

 I think the biggest pressure is to keep the momentum of growth going. I have to ensure that there is no undue strain on prices. For example, edible oil.

 We did some duty corrections in the Budget and I found that it was being misused by certain established names which I do not want to name. But we made a correction. Within a week, I called my officers and I admitted defeat. And the purpose for which I did the correction has not been appreciated.

 We are the only country in the world that will not use animal fat for cooking. We are talking of cooking oil needs of a billion-plus Indian people. Keeping prices under control is an economic priority as well as a political priority.

 What else, other than prices?

 The other thing I must ensure to do, is that the citizen has more spending power. I have to present my six-monthly report to Parliament. I am going to assess if I have been able to put garib key peth mein dana (food in the stomach of the poor), for example.

 The Annya Antyodaya programme, 50 lakh families are benefiting. And grihini ki tukiya mein aana (money in the purse of the housewife).

 I am going to tell my officers to ensure that the tax refund that the government pays

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First Published: Sep 30 2003 | 12:00 AM IST

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