Kalam backs Montek on using forex reserves
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10/11/2004
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Business Standard (New Delhi)
Planning Commission Deputy Chairman Montek Singh Ahluwalia today got some unexpected support from President APJ Abdul Kalam, who favoured using part of the country's foreign exchange reserves for investment in high-yield enterprises. He also proposed concessional funds for creation of corporate hospitals to provide networked healthcare in rural areas through medical insurance on the Yeshaswini model followed in Karnataka and also attract medical tourists. The President also advised banks to assist five rural development projects that generated at lease 10 million employment. He said banks should also ensure that they comply with the guidelines on education loans and students were able to pursue higher education.