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Yechury terms Basu's 'economic reforms' remark to be flimsy excuse


April 20, 2012 - New Delhi

Communist Party of India (Marxist) leader Sitaram Yechury on Friday termed Chief Economic Advisor Kaushik Basu's 'major economic reforms unlikely before 2014 polls' remark to be a flimsy excuse.

"So, all this talk about saying that because of coalition politics we are not going ahead with the reform agenda is all I may say a very flimsy excuse," said Yechury.

"The fact remains that because of this trajectory of economic reforms in India, they have succeeded in creating two Indias. You have a shining India for a very few and a suffering India for a vast majority. And this divide is actually widening. Now, what is required is actually is to bridge this divide and give what they always talk about as inclusive growth," he added.

Meanwhile, Union Information and Broadcasting Minister Ambika Soni defended Basu's remark.

"No, I do not think Mr. Basu has at all talked about any policy paralysis, he may only have had in the back of his mind what happened in the last two Parliament sessions," said Soni.

"That he may have been referring to the Opposition which were not cooperating in allowing any discussion in any of the 40-50 bills which are pending, discussions and clearance to be passed. So, he may have that in his mind saying that the process is going little slowly," she added.

Basu earlier said reforms are unlikely before the 2014 elections.

"We are going through a difficult year. (After 2014), you would see a rush of important reforms and after 2015 India would be one of the fastest growing economies of the world. The new government, if in a majority, would start with the reforms in a big way because there is a sense that it needs to pick up," he said, while addressing a meeting at the Carnegie Endowment for International Peace, an eminent Washington-based think tank.

ANI

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