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LUDHIANA, May 11: Punjab Governor B.K.N. Chhibber, while presiding over the 20th annual day function of the Ludhiana Management Association ...

LUDHIANA, May 11: Punjab Governor B.K.N. Chhibber, while presiding over the 20th annual day function of the Ludhiana Management Association here today said that an important domestic concern was the impact of liberalisation and market economy on poor people and the social sector.

Chibber said that the side effect of development in a liberalised environment based on capitalism in terms of consumerism and money power were unlikely to be fully controlled and would leave quite a large section of the society highly agitated and dissatisfied.

The governor said the basic question was how economic reforms could be accompanied by more effective factors to improve the health, education, nutrition, job opportunities and other human development factors.

The governor endorsed the Human Development Report of the UNDP that human progress could not be measured only in terms of growth in GNP on per capita income, though it will remain an important pre-requisite to socio-economic development. The basic human needs, as well as elimination of poverty also have to be given due importance. Chhibber, however, said that despite the initial problems of development, there seemed to be no substitute for the policy of economic liberalisation.

Earlier, Chhibber presented the annual LMA awards. Harinder Mohini Singh, Managing Director, M/S Hot Millions Foods Pvt. Ltd. Chandigarh, got the Entrepreneur of the Year Award. Iqbal Singh Sidhu, Commissioner, Municipal Corporation, Ludhiana got the Manager of the Year award and Mahesh Mittal, Director, M/S Aarti Steels Limited, Ludhiana got the Young, Innovative Entrepreneur of the Year Award.

Tracing the past performance of the Indian economy since independence, Rakesh Mohan, Director General, National Council of Applied Economic Research in his keynote address, highlighted that in the country, social growth without economic growth was not possible.

Mohan also said that trade restrictions on the import of consumer items should be removed and restrictions in the small scale sector be done away with. He focussed on various infrastructural reforms in providing electricity, healthcare, education, drinking water and roads.

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Noted industrialist SP Oswal also spoke on 8220;Punjab industry: Vision 20108221;. He said that per capita income of the state should increase from the present Rs 14,188 to Rs 78,140 by the year 2010. For this, it was necessary for the state to help re-structure the industrial sector. The major growth industries identified by Oswal were textiles and light engineering followed by food products, electronics and soft-ware.

D L Sharma, President of LMA, welcomed the guests and highlighted various activities of the association during the year 1997-98. Apart from organising monthly lectures by management experts, seminars and symposiums, the LMA, through its Social Obligation Committee, had been coordinating with the Municipal Corporation, Ludhiana in civic affairs and cleanliness drives.