Rajya Sabha member and former Reserve Bank of India Governor Bimal Jalan yesterday said it was possible for political parties to take a "different view" on the disinvestment process. He added that parties should have the capability to push ahead with their plans. |
"It is possible to take a different view both in terms of the human-face and content. You (new government) must have the capacity to do what you want to," Jalan said at a Federation of Indian Chambers of Commerce and Industry (Ficci) conference. |
Although there was a difference in view between the National Democratic Alliance and the Congress and its allies, he said they were not that vital. |
Jalan did not oppose populist measures like free power to farmers promised by a newly-elected party in a state but said they should not come at the cost of taxpayers' money. |
In this context, he stressed "fiscal empowerment" and the need to reduce fiscal deficit both at the Centre and in states to ensure higher growth. |
"I don't think there is any difference in the view that we want high growth, lower poverty, low inflation, financial stability and a strong market... Unless you correct the fiscal problem, you cannot achieve what you want," he said. |
Jalan also laid stress on a better public delivery system, legal reforms, corporate governance and the need to bring down corruption. |
Prescribing a long-term fiscal policy, Jalan said tax rates should come down, procedures should be simplified and tax net widened. |