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'Disinvestment not core of reforms'

Planning Commission Chairman Montek Singh Ahluwalia says that brakes on disinvestment will not impact economy.

india Updated: Jul 07, 2006 14:26 IST

In a bid to dispel fears that the Government decision to put on hold disinvestment in PSUs could impact the economy, the Planning Commission on Friday said disinvestment is not the core of economic reforms.

"I have never felt that disinvestment is core of reforms. The reform agenda is very very wide ranging," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

"Quite frankly, I do not think that PM's statement (putting all disinvestment decision on hold) would prevent moving on wide ranging of things which are absolutely crucial," he said.

Ahluwalia said the approach paper to the 11th Plan talks of a whole lot of reforms in agriculture like greater public investment, new ways of organisation, changing laws and greater role of the market.

"None of these have anything to do with disninvestment," he added.