Growth policy that includes all people necessary: Pranab

June 14th, 2008 - 8:44 pm ICT by IANS  

Kolkata, June 14 (IANS) The Congress-led United Progressive Alliance (UPA) government was going for an inclusive growth policy in the 11th Five-Year Plan which would benefit more people, Minister for External Affairs Pranab Mukherjee said here Saturday. “There must be a policy which would involve more common people. Growth is not only a statistical term but it should benefit everyone in society,” Mukherjee said.

He has said about 238 million people in India live below the poverty line and have no access to minimum requirement of food.

“We want to fully participate in the globalisation process, but at the same time we shall have to take note of marginal commoners. I agree, if these poor people are not included in the process, the growth would be incomplete,” Mukherjee said at a function organised by the Merchants’ Chamber of Commerce (MCC).

Talking on the recent oil price hike, he said the oil financing companies were incurring huge losses due to the price rise of petroleum products in the international market.

“From 2005-06, these companies are registering deficits of Rs.400 billion, Rs.470 billion, and Rs.700 billion in every financial year. This amount of money cannot be kept under any carpet,” he said.

Asked what would be the government’s stand on oil price issue against the mounting pressure by the left parties, he said: “There’s no question of rollback.”

West Bengal Chief Minister Buddhadeb Bhattacharjee, who was present on the occasion, urged the central government to prepare a comprehensive growth policy.

“We must come out with a comprehensive policy on growth in the country,” Bhattacharjee said.

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