The Hindu Business Line : BJP to continue reforms on a self-reliant path

The BJP General Secretary, Mr Pramod Mahajan, the BJP President, Mr Venkaiah Naidu, and the Finance Minister, Mr Jaswant Singh, releasing the BJP Vision Document 2004 titled `Our Mission Shining India - Superpower India' in the Capital on Tuesday. - Kamal Narang

New Delhi , March 30

THE Bharatiya Janata Party (BJP) today spelt out in its vision document that it would "broaden and deepen economic reforms, based on a self-reliant approach, for sustained double-digit GDP growth rate to achieve complete eradication of poverty and unemployment," besides ending regional and social disparities and bridging the urban-rural divide.

Releasing the party's Vision Document 2004 (V-document) in the presence of senior leaders Mr Jaswant Singh, Mr Arun Jaitley, Ms Shushma Swaraj and Mr Pramodh Mahajan, the BJP President, Mr M. Venkiah Naidu, told newspersons at the party office that the V- document is not a "manifesto" of the party.

The "agenda" of the National Democratic Alliance (NDA) Common Manifesto would be released "after taking everybody into confidence, which would be the guiding document for governance" of the coalition government in the next five years, he said.

Stating that the BJP is committed to making India a developed nation, Mr Naidu said the 2004 General Election was an "opportunity to reject the grim, feel-pain record of the Congress party and endorse the feel-good mood generated by the NDA government." He said the main issues of Election 2004 remain "good governance and accelerated all-round development."

Mr Naidu said that village development and making villages an ideal place to live continued to be the vision of the party and "a Ram Rajya is incomplete without Gram Rajya." Provision of connectivity, roads, electricity, water, irrigation facility and drainage, besides education and primary health for villages was on the agenda, he said.

India's goal of achieving a double-digit annual GDP growth on a sustainable basis could be achieved by mobilising its own domestic resources. "A strong, efficient and high-growth Indian economy, in which Indian products, services and entrepreneurs dominate the domestic and global markets, is our concept of Swadeshi," it said.

Responding to queries about the "contradiction" between the party's embracing of swadeshi and globalisation, Mr Jaitley clarified that "a big shift is taking place in the global economy and this shift favours low-cost economies over high-cost economies in manufacturing and services, provided the former have sufficient competitive strengths on the counts of cost, quality and technology." The Indian economy was rapidly "acquiring these strengths," Mr Jaitley said.

The V-document said the party believes that wealth creation should be applauded and encouraged even as it believes in the multiplication of universally accessible entitlements for the majority.

While the party is committed to greater consumer choice, it does believe that the creation of monopolies, both in the public and private, is undesirable. "We believe in a responsible fiscal regime, marked by modest deficits, low inflation and a steadily strengthening rupee," the V-document said, adding that the "advantages of low interest credit must be shared by all productive forces including small businesses, the self-employed and farmers." Efforts would also be made to broad base the growth in employment-generating sectors of the economy.

It said the party believes that a Second Green Revolution was needed to increase farm productivity, achieve crop diversification, reduce waste and add value at every stage in the food chain linking the kisan to the consumer. "Comprehensive reform of agricultural markets, free movement of farm produce across the country, setting up of cold storages, godowns and grain banks, intensification of technology transfer and agricultural extension services and support to organic farming would be given priority," it said. It would steadily raise the total spending on education to 6 per cent of GDP by 2010 with enlarged public-private partnerships, besides moving quickly towards the goal of "Health for All."

On industry, it said India could become the manufacturing hub for the world "with our small and medium enterprises, the KVIC sector and traditional industries such as textiles, gems and jewellery and leather" holding the promise. This potential would be unleashed through suitable policy and institutional measures.

It promises "firm and quick steps to end the tyranny of the Red Tape and the Inspector Raj, which breeds corruption, drains the growth potential and de-motivates Indian entrepreneurs." The party would also actively work for the realisation of "Made in India" brand dominating world markets in a wide range of products.

While assuring a simplified and low tax regime, it said efforts would be intensified to further expand the population of tax payers to reflect the growing preponderance of services in the economy, ensure better compliance and plug significant leakage of tax revenue at various levels.

Promising to persist with reforms in the financial sector that led to better performance of the corporate sector and the evolution of well-regulated stock markets, the party believes that the gains of this process must be shared more equitably by broadening the base of investment in equities.

It said the party is committed to removing all non-financial barriers to economic growth such as delays in clearances and decision-making, obsolete laws, unnecessary procedures, habitual litigation and lack of level playing field in the functioning milieu of executives in the public sector vis-à-vis their private sector counterparts. Its proposed governance reforms include reducing discretionary powers vested with public authorities and ensuring exemplary punishment for infringement.

"Efficiency, accountability, responsiveness, pro-poor attitude and treating the people as one's master will be the hall mark of administrative reforms in the years to come," it said.