SJM against reducing Govt stake in IA
The Swadesh Jagran Manch has cautioned Finance Minister Yashwant Sinha on the dangers facing the economy and said it will arouse public opinion against
the government's decision to reduce its holding to 49 per cent
in Indian Airlines.
SJM's all-India organiser S Gurumurthy said the Manch opposes the government's unjustified decision.
The Manch is also against the discriminatory treatment to the traditional finance institutions in the name of controlling the non-banking financial companies
and urged the government to formulate a fair policy to allow NBFCs
to function -- and not throttle them.
The swadeshileader said he viewed the Budget as a broad
continuation of the Pokhran spirit and a ''reversal of the trend to
discount India in the minds of Indians''. He asked Sinha to keep
a strict watch through a proper and powerful anti-inflation cell and
ensure unhindered supply of essential goods.
While opening the insurance sector to the Indian private sector,
the finance minister must ensure that foreign
investment does not sneak into the insurance sector, he said.
The SJM congratulated the finance minister for
presenting a land mark Budget for 1998-99 with an explicit and long-
awaited swadeshi thrust to the Indian economy.
UNI
Budget '98
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