reforming the reforms

·         Population in last decade has grown by almost 200 mn

·         But jobs have not grown

·         We need our manufacturing sector to grow rapidly(atleast 3% more than overall growth) to create jobs at a faster pace than the job seekers

·         Hurdles for manufacturing sector

o   Environmental laws

o   Labour laws

o   Land acquisition

NEED FOR A NEW APPROACH

·         In 1991, reforms involved allowing more foreign investment and less licenses and government intervention

·         Such reforms were alrgely supported by people as it brought them cheaper and better quality goods

·         But now reforms like labour laws, land acquisition are strongly opposed by people

·         Hence the second generation reforms need a dialogue to be struck with civil society unlike 1^st gen reforms which required only dealing with industriialists

WAY AHEAD

·         We need to include the stake holders who are going to be affected by a project in decision making

·         Less government (laws , bureacrats, corruption) must be there

·         Companies should active pursue CSR activities to build trust with the people

Conclusion

The need of the hour is inclusive growth,stimulated by investments and employment