NCP too against disinvestment

Strongly opposing disinvestment of the profit-making public sector undertakings (PSUs) and the hire-and-fire policy, the Nationalist Congress Party (NCP) today asked the government to streamline taxes, remove the licence and inspector raj and check corruption at the bureaucratic level.

In a slew of proposals to foster economic growth with social justice, the Sharad Pawar-led party, which is a part of the United Progressive Alliance (UPA) government, also favoured better living conditions for the work force so as to increase labour productivity and increase India Inc's competitiveness globally.

Addressing a workshop here, the party's treasurer YP Trivedi said, "Economic growth has to ensure social justice. At the same time, we must realise that social justice cannot be ensured without economic growth."

Opposing the selloff of PSUs, he said "the NCP is not in favour of selling family silver." Instead, he said the government should remove the licence raj and enable corporates to expand and create job opportunities.

Maintaining that labour reforms would be equivalent to "biting the bullet", Trivedi said "We do not want the hire-and-fire policy. It will only increase unemployment."

He said the country should adopt technology that would be lead to absorption of more labour. He attributed the low labour productivity in the country to lack of adequate nutrition, medical and education facilities.

The NCP leader also asked the government to reduce the bureaucratic red-tape and corruption, which were affecting small firms more than big corporates.

He also pitched for tax reforms and removal of the cascading effect of multitude of taxes.