05-25-2007, 06:16 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>PM turns socialist </b>
Yogesh Vajpeyi | New Delhi
<b>Wants corporate salaries cut
Aiyar triggers competitive Left-hand drive</b>
Under fire from supporting Left parties and a vocal section within his own Congress party for his zealous pro-reform agenda, Prime Minister Manmohan Singh seems to have taken a leaf out of the discourse on socialism.
Addressing the captains of India Inc on Thursday, he urged industry to develop "corporate social responsibility" to make the country's growth process inclusive and help in creating a "culture of caring, sharing and belonging".
"The time has come for us to ask ourselves what we can give (India), back," Singh said while addressing the annual general meeting of the Confederation of Indian Industry (CII).
"We must forever end the debate whether our country's march of progress has benefited India and not Bharat (the traditional name for India now used to describe the have-nots who have not benefited from economic reforms)," the Prime Minister said.
His remarks assumed special significance in the backdrop of the recent public criticism of his Government's economic policies by Panchayati Raj Minister Mani Shankar Aiyar and the Left leaders last week.
In a television interview a few days back, Aiyar had publicly said that some of the Government's policies seemed to be influenced by elite institutions like the CII.
He had also suggested a mid-term course correction to address the problems of aam admi and claimed that a number of senior party leaders and UPA Ministers shared his thinking.
The Left parties and UPA ally NCP had subsequently endorsed Aiyar's views.
<b>The Prime Minister asked India Inc to look closely at affirmative action, desist from non-competitive practices and fight the "cancer" of corruption that was "eating into the vitals" of the nation's body politic.</b>
"I invite Corporate India to be a partner in making ours a more humane and just society. We need a new partnership for inclusive growth based on a 10-point social charter," he told the captains of industry.
The 10 points spelt out by Singh, in his talk on 'Inclusive Growth - Challenges for Corporate India' include welfare of the workers and their families, corporate social responsibility and pro-active affirmative action
He wanted the industry to resist excessive remuneration to promoters and senior executives and discourage conspicuous consumption.
He also favoured higher investment in environment-friendly technologies since India's growth must be enhanced and its ecology and environment protected for future generations.
"The objective of such a social charter would also be to encourage a culture of saving and investment - a culture of caring, sharing and belonging," the Prime Minister said.
The Prime Minister's comments came as the Geneva-based World Trade Organisation, in a report released on Thursday, said India would need to put greater investments into its "physical and human resources" if it were to sustain its 'impressive' economic growth rate.
Finance Minister P Chidambaram hammered the same point in his address to CII.
"High growth means more inclusiveness. If high growth is not inclusive, then low growth is even more not-inclusive," he said, adding that it was imperative for manufacturing and services sectors to expand output at a faster pace to sustain the current economic growth.
<b>Manmohan's social charter for corporates</b>
India Inc should ask what it can give
Desist from non-competitive practices
Resist excessive remuneration to promoters and senior executives
Ensure welfare of workers, their families
Have corporate social responsibility and pro-active affirmative action
Fight 'cancer' of corruption that is "eating into the vitals" of nation
Discourage conspicuous consumption
<!--QuoteEnd--><!--QuoteEEnd-->
His failed policies and lack of spine is a problem, not big checks.
Congress always believe in 2% growth, keep India poor so that its easy to suppress, now people have tasted good side of life and Private sector is doing really good, that is causing heart burn.
Yogesh Vajpeyi | New Delhi
<b>Wants corporate salaries cut
Aiyar triggers competitive Left-hand drive</b>
Under fire from supporting Left parties and a vocal section within his own Congress party for his zealous pro-reform agenda, Prime Minister Manmohan Singh seems to have taken a leaf out of the discourse on socialism.
Addressing the captains of India Inc on Thursday, he urged industry to develop "corporate social responsibility" to make the country's growth process inclusive and help in creating a "culture of caring, sharing and belonging".
"The time has come for us to ask ourselves what we can give (India), back," Singh said while addressing the annual general meeting of the Confederation of Indian Industry (CII).
"We must forever end the debate whether our country's march of progress has benefited India and not Bharat (the traditional name for India now used to describe the have-nots who have not benefited from economic reforms)," the Prime Minister said.
His remarks assumed special significance in the backdrop of the recent public criticism of his Government's economic policies by Panchayati Raj Minister Mani Shankar Aiyar and the Left leaders last week.
In a television interview a few days back, Aiyar had publicly said that some of the Government's policies seemed to be influenced by elite institutions like the CII.
He had also suggested a mid-term course correction to address the problems of aam admi and claimed that a number of senior party leaders and UPA Ministers shared his thinking.
The Left parties and UPA ally NCP had subsequently endorsed Aiyar's views.
<b>The Prime Minister asked India Inc to look closely at affirmative action, desist from non-competitive practices and fight the "cancer" of corruption that was "eating into the vitals" of the nation's body politic.</b>
"I invite Corporate India to be a partner in making ours a more humane and just society. We need a new partnership for inclusive growth based on a 10-point social charter," he told the captains of industry.
The 10 points spelt out by Singh, in his talk on 'Inclusive Growth - Challenges for Corporate India' include welfare of the workers and their families, corporate social responsibility and pro-active affirmative action
He wanted the industry to resist excessive remuneration to promoters and senior executives and discourage conspicuous consumption.
He also favoured higher investment in environment-friendly technologies since India's growth must be enhanced and its ecology and environment protected for future generations.
"The objective of such a social charter would also be to encourage a culture of saving and investment - a culture of caring, sharing and belonging," the Prime Minister said.
The Prime Minister's comments came as the Geneva-based World Trade Organisation, in a report released on Thursday, said India would need to put greater investments into its "physical and human resources" if it were to sustain its 'impressive' economic growth rate.
Finance Minister P Chidambaram hammered the same point in his address to CII.
"High growth means more inclusiveness. If high growth is not inclusive, then low growth is even more not-inclusive," he said, adding that it was imperative for manufacturing and services sectors to expand output at a faster pace to sustain the current economic growth.
<b>Manmohan's social charter for corporates</b>
India Inc should ask what it can give
Desist from non-competitive practices
Resist excessive remuneration to promoters and senior executives
Ensure welfare of workers, their families
Have corporate social responsibility and pro-active affirmative action
Fight 'cancer' of corruption that is "eating into the vitals" of nation
Discourage conspicuous consumption
<!--QuoteEnd--><!--QuoteEEnd-->
His failed policies and lack of spine is a problem, not big checks.
Congress always believe in 2% growth, keep India poor so that its easy to suppress, now people have tasted good side of life and Private sector is doing really good, that is causing heart burn.