No roll-back of reforms, says Chidambaram

Ruling out roll-back of reforms, Finance Minister has said Govt policies need to be fine-tuned to make it painless for the poor.

Ruling out any roll-back of reforms in the face of Leftist pressure, Finance Minister P Chidambaram said on Wednesday Government policies need to be fine-tuned to make it painless for the poor.

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"No one wants a roll-back. I have spoken to the Left. What they want is to go forward, but take along the sections of the people, who have been neglected," Chidambaram said, indicating that the new Congress-led Government was in favour of pursuing reforms with a human face.

There is a need to introduce a "doctrine of proportionality", which meant putting burden on the poor to the extent it is bearable, he told a private channel NDTV in the 'Walk-the-Talk' programme.

To a question on subsidy reduction, he said "the burden should be proportionate to their ability to bear it. If somebody cannot bear the burden, what is the point of putting that burden on his shoulder."

Meanwhile, Chidambaram is expected to carry forward tax reforms on the lines of the recommendations of the Kelkar panel, which favoured phasing out of tax exemptions besides lowering of tax rates.

Kelkar's roadmap revolves around Chidambaram's theory that lower the taxes, higher the compliance.

Chidambaram had proved that this works when he was Finance Minister in United Front Government.