The policies of the government should be market-friendly rather than being business friendly, former RBI Governor Y V Reddy said today.
Addressing an event here, he said the primary role of the state is to protect the rights of its citizens.
Reddy advocated that the government policies should be market-friendly, rather than being business friendly.
Referring to the Centre's 'ease of doing business' initiative, he sought to clarify whether it was a business friendly measure or a market friendly one?
"Business friendly means business (supporting) whoever is businessmen, crony capitalist. Market friendly means anybody wants to compete...Still we don't have a concept of market friendly governance. We have a business friendly (approach)," Reddy said, while delivering a lecture on "State and Market in India".
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