Jyotiraditya Scindia calls for inclusive growth agenda

Dec 14, 2017

NEW DELHI, 14 December 2017: Shri Jyotiraditya Scindia, Member of Parliament and senior Congress leadertoday called upon the Government and industry to develop an inclusive agenda.

Addressing the 90^th Annual General Meeting (AGM) of FICCI, Shri Scindia said "the theme of the AGM, Indian Business in a new India, was very apt as a free and resurgent India is on the cusp of emerging as a world power. However to translate the goal into reality, it was necessary that the character of our economic growth is formulated together and that the economic and foreign policy of the country must be based on continuity, irrespective of political affiliation, he said, stressing that economic policy needed to be continuous and contiguous and not fractious.   

Lamenting the fact that this tradition has witnessed significant obfuscation in the recent past he identified demonetisation and poor implementation of GST as the twin disruptors of the process. "Any good idea has to be based on ideation. Where was the ideation here," asked Scindia, linking demonetisation to the huge loss of jobs, disruption in the supply chains and decline in the GDP growth.

Highlighting the crisis in the MSME sector, Shri Scindia called for course correction which should be based on two precepts - high and inclusive growth and ethos of tolerance. He said 120 crore Indians have an equal stake and right in their development as India moves forward and the UPA Government has left a legacy of upholding these rights in its 10-year-old tenure.

This track record, pointed out, Shri Scindia, was based on high growth supported by the public and private sector involvement and strong investment growth. This along with adequate attention to rural India created a balancing effect. The other pillar, said Shri Scindia was an inclusive agenda, backed by food security, MNREGA, Right to Information Act, Right to Education.

Going forward, Shri Scindia called for a need to create a knowledge ecosystem wherein colleges, industry and universities work together. "We can't compete on low wages alone, we must bring in productive utilization of resource,"  Shri Scindia said, outlining the other corrective measures. The priorities were food security, specialisation to foster competitiveness based on core competencies, focus on manufacturing and finally research and development and skill development.

Welcoming Shri Jyotiraditya Scindia, FICCI's outgoing President, Mr. Pankaj R Patel, lauded the young MP for serving four terms in Parliament and said that the industry expected that the GST issues would be sorted out through constant dialogue.

FICCI's incoming President Mr. Rashesh Shah delivered the vote of thanks.

Also Read

• Govt. looking at JVs in ordnance sector
• Major review of ordnance factories on, says Nirmala Sitharaman
• 'Petrol, realty should come under GST'
• 'Formal economy, bigger tax base alone can bring down tax rates'
• Arun Jaitley flags infra sector, bank clean-up as priorities
• Arun Jaitley flags infrastructure, bank clean-up as priorities for govt
• FM says will overtake divestment target
• Need to continue momentum on building infra: FM
• GST revenue collection falls, Amit Mitra flays hasty rollout, Sushil Modi defends
• States face revenue shortfall of ₹39,111 crore from GST: Mitra
• GST revenue gap may widen to Rs 85,000 crore for FY18: Amit Mitra
• Electricity, petroleum, realty likely to come under GST net
• Petrol, realty may come under GST: Sushil Modi
• Strengthening banks the next big reform: Arun Jaitley
• 'Strengthening banks crucial in next year agenda'
• Will significantly overtake disinvestment target, says Finance Minister Arun Jaitley
• Council may bring petrol, realty under GST in future: Sushil Modi
• Will significantly overtake disinvestment target: Jaitley
• Council mulls bringing fuel, power under GST ambit
• Rumours being spread on FRDI bill, says PM
• Depositors' money in banks is safe: Modi
• GST council may bring petrol, realty under GST in future
• Rashesh Shah takes over as FICCI President
• Rashesh Shah takes over as FICCI President
• Rashesh Shah takes over as FICCI President

Event

• 90th Annual General Meeting (AGM) of FICCI