There is an urgent need to liberate the farm sector from a host of shackles that are pulling it down and farm sector is still out of the pale of reforms, M Venkaiah Naidu, Vice President of India said, while giving away the Economic Times Awards for Corporate Excellence, in Mumbai on Sunday.
He said that catalyzing farm sector is the key to economic growth and agriculture and industry shall be looked at as the two eyes of our economy.
The Vice President said that India’s dream built on the aspirations of about 130 crore Indians can be fulfilled if only every Indian and every business or corporate entity is enabled to express their potential to the fullest potential.
Naidu said that the government and businesses must act as partners to spur economic growth. He further said that Government should act as a facilitator by adopting investment-friendly measures, and at the same time, businesses have certain responsibilities and must strive to promote ethical corporate governance. India Inc. and the Indian State should collectively work towards efficient capital management and ensure this so that every asset of ours becomes a performing asset, he added.
The Vice President said that bold reforms with clear vision and purpose have to be implemented with missionary zeal, unmindful of temporary setbacks. He further said that while reforms are the need of the hour, we need to focus on inclusive growth and bridging disparities.
“Like homegrown food security, there is a need to build a sustainable economy—this must be the main principle. Common man will be the ultimate beneficiary of a transparent and efficient economy,” he added.
He emphasised that regulations should not become strangulations. “Even the constitutional right of freedom of expression is subject to certain restrictions. As a corollary, the freedom of economic expression too would have certain bottomlines without being too restrictive. That is what my friend Arun Jaitely wants to ensure.”
Naidu also emphasised, “ While on the issue of economic reforms, I would like to invite the attention of all of you to the need to liberate the farm sector from a host of shackles that are pulling it down.”
The Vice President urged Industry captains to be partner in the growth of economy. He said, “ I believe that the path to economic growth and development lies through you. You are the job creators and wealth creators. And it is the responsibility of the governments to ensure that there is conducive atmosphere for businesses to operate and contribute for economic development.”