Economic reforms irreversible, would continue: Tharoor

Insurance reforms are on the anvil, says the minister

Union minister of State for HRD Shashi Tharoor today said that liberalisation has helped the country and economic reforms will continue in spite of the difficulties in implementation.

"Whatever you might say about the slowdown, economic reforms are here to stay... It's clear that liberalisation in a globalised world has changed the country irreversibly," said Tharoor, giving fourth M Visvesvaraya Memorial Lecture here.

He acknowledged that sometimes political compulsions come in the way and it may take time for forming a consensus, but the process will go on.

Asserting the government's commitment, he said insurance reforms are also on the anvil.

"India rising is not just a story, its a tangible reality," he said, citing the mobile revolution as example of of change for the better. He, however, added that lot more needs to be done and the government is conscious of it.

India needs to eradicate poverty, end corruption and ensure that its human capital, often cited as the demographic dividend, is adequately trained.

There are a slew of positives like the large domestic capital generation because of the high savings, a confident private sector and the growing middle class, he said.

Literacy will be a big advantage in the future, he said, adding that at present 95% of the kids at 12 years are literate.

Tharoor, accompanied by his wife Sunanda Pushkar, also paid homage to the martyrs of the 26/11 terror attacks.