Spirit willing, reforms flash is still weak

  • 29/10/2002

  • Indian Express (New Delhi)

The government today signaled its commitment to bold economic reforms but, while doing so, also gave off enough signs of the populist pressures that could continue to derail the economy. Union Cabinet cleared the Tenth Five-Year Plan which, among other things, involves an ambitious disinvestment target of Rs 80,000 crore over the next five years, and also aims to raise annual foreign direct investment limits to $7.5 bn by the year 2007 - both areas have been strongly opposed by not just top cabinet ministers, but also by the RSS and the Swadeshi Jagaran Manch over recent weeks.