`Fiscal empowerment crucial for growth`

  • 17/05/2004

  • Business Line (New Delhi)

It is possible to look at the pace and content of disinvestments differently, Dr Bimal Jalan, MP and Former Governor of Reserve Bank of India, said while addressing the Federation of Indian Chambers of Commerce and Industry (FICCI) National Executive Committee members on 'Economic Agenda for the New Government' in New Delhi. "But there can be no different view on the point that people's money cannot be spent in financing deficit or losses. In this case, one has to keep the element of reasonableness in mind," he pointed out.