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This is an archive article published on April 18, 2008

Won146;t back-off from liberalisation: PM

PM Manmohan Singh said that his govt has followed 'hands-off' policies and will remain committed to liberalisation.

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Amidst increasing criticism by the Left parties against the free market forces in the wake of price rise, Prime Minister Manmohan Singh said his government has followed 8216;hands-off8217; policies and will remain committed to liberalisation.

8220;We remain committed to economic reform and liberalisation8230; in ancient India, a monarch was regarded as a good king if he did not interfere too much in the life of the people. That has been our guiding principle as well,8221; Singh told delegates of the IISS-City India Global Forum attending an international conference in New Delhi.

Singh said his government was also committed to an environment of freedom 8220;in which creativity and enterprise of our people can find its full and free expression8221;.

Inviting overseas investors to bring in more funds into the country, he said globalisation was both a challenge and an opportunity and India would like to be 8220;an active participant in the process of globalisation8221;.

Prime Minister8217;s assurance to the investors assumes importance in the wake of Left parties, which support the UPA government from outside, launching an agitation against the government, which they said, was promoting 8220;monsters of market forces8221;.

The Left parties have been staging street protests against inflation which has crossed seven per cent mark. They also attacked the government in Parliament on the same issue spiralling prices along with the Opposition.

The Prime Minister asked the overseas investors to stay invested in the country, 8220;because for India the best is yet to come8221;.

 

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