New Delhi:
Determined to prove the economy is in turn-around mode, the Cabinet yesterday cleared a new installment of big-bang reforms including more Foreign Direct Investment or FDI in the insurance and pension sectors. Here is a look at political and other reactions:
Mamata Banerjee, Trinamool Congress chief and West Bengal Chief Minister (on her Facebook page): Today, yet another set of anti-people decisions of the Central Government have crossed the
'Laxman Rekha.' These important decisions, which have direct bearing on the livelihood of millions of Indians, taken by a minority government, are immoral and unethical. Increase in FDI percentage from 26 to 49 in Insurance Sector and introducing 26% FDI in Pension Sector will make lifelong savings of individuals totally insecure.
Is it the intention of the UPA Government to sell out the country? We should unitedly oppose all such moves and will not allow the government to be bailed out after a series of such anti-people decisions.
The minority government cannot play such immoral role. Let us move No Confidence Motion. We have decided to meet the Hon'ble President with an appeal to oust the UPA-II minority government.
I will also appeal to those supporting UPA to come out and oppose these moves in the greater interest of the people. Every countryman is watching your action.
Sarkar jaana jaroori hai, desh ko bachane ke liye...
Prakash Javadekar, BJP leader:Unless we see fine print, we can't give final comment. We had given cooperation in these two issues, provided that our concerns are taken into consideration.
P Chidambaram: We will reach out to all political parties, especially the principal opposition party (BJP), to get the reforms bill passed (in Parliament). We will now discuss the official amendments with the principal parties. Legislation making in a Parliament where the government does not have majority is a process of discussion and negotiations."
Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission of India (to NDTV): Economy may start turnaround in 2013. We were aware that a lot of things were politically contentious. There is a limit to how far you can go. Once the government felt it had done enough, it went ahead and acted. None of the measures the government has taken is anti-people. The attack on any policy is a political posture and people have to understand. There may be some lack of understanding - we are bringing in foreign money into the pension sector according to IRDA regulations - we are not giving away the fund, we are allowing foreigners to build up the capital of an Indian company.
If Parliament doesn't pass these laws that is a different issue, and that is something we must address. The government is doing its
dharma, and the Parliament will do its.
Rashid Alvi, spokesperson, Congress: This step is for the benefit of the public. So everyone should respect it. The government tries to reach consensus. If can't reach consensus, then it is the government's duty to take the country forward, to give it direction. We will try to pass it in Rajya Sabha, for the benefit of the nation.
Saugata Roy, Trinamool Congress MP: The unrelenting reforms may improve the Sensex, but will not help the people.
Gurcharan Das, Author and Former CEO Procter & Gamble: The BJP opposes everything. How do you expect me to vote for someone who is so obstructive.
Yogesh Agarwal, Chairperson, Pension Fund Regulatory & Development Authority: (There is) no difference between pension funds and the pension sector, but we have to see what the intent of the Cabinet is and whether Parliament allows it. I will go with my fellow regulator in insurance sector, if you have allowed 49 per cent in insurance, there is no reason to limit the pensions sector unless you are taking the recommendations of the standing committee.