Veteran industrialist asks BJP to patch up with Congress to push reforms
Rahul Bajaj
New Delhi: Industrialist Rahul Bajaj, who is known to speak his mind, said on Wednesday that the Prime Minister Narendra Modi should have used his political capital to push one or two big bang reforms during the first year of his rule.
“About six weeks ago I said was that the sheen is wearing off. Prime Minister on May 26, 2014 was the emperor of India and the sheen is wearing off. I don’t think government likes such type of statements,” said Mr Bajaj at a conference organised by The Economist.
On asked whether Mr Modi has competent people in his cabinet, Mr Bajaj said that Prime Minister has taken best people that were available in Parliament and many of these ministers are first timers and it will take them time to pick up. He said that PM could have taken people from outside into his cabinet. “Why couldn’t you get three to four outstanding people from outside,” said Mr Bajaj.
He said that Mr Modi could have capitalised on his political goodwill during the early days of his rule and push big reforms. “On one hand they say incremental reforms, why do you want big bang reforms. On the other hand the new government in its the honeymoon period — lets say one year — could have had one to two big reform which could have set the tone. P. V. Narasimha Rao our former PM did that,” said Mr Bajaj.
He said that GST is unlikely to get passed until it is supported by the Congress party. Mr Bajaj said that unfortunately an impression was created that the land Bill is anti-farmer and pro-corporate.
“The relation between Congress-BJP have become pretty bad. The tension is worst than emergency,” he said. Mr Bajaj pointed out that it is the responsibility of the ruling party to extend the hand of friendship. “Ruling party has bigger responsibility, they should extend the hand of co-operation and friendship more than half way. And Congress must respond,” he said.
On ease of doing business, Mr Bajaj said that India is still a difficult place to do business. On compliance window under the new black money law, he said that the worry is that if someone declares his untaxed money and I-T department says it is illegal declaration, in such a case the person who has declared the untaxed money will be in trouble.
Mr Bajaj said any decision on rate cuts should be left to the RBI governor as he knows this issue “better than the government”. He also lashed out at the banks for not passing on the benefit of rate cuts.
( Source : deccan chronicle )
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