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Tuesday, Oct 26, 2021
Outlook.com

Common And Minimum

The CMP is more about 'what to' rather than 'how to', its ideas noble but impractical Updates

Common And Minimum
Jitender Gupta
Common And Minimum
outlookindia.com
-0001-11-30T00:00:00+05:53
It was born out of a zeal to justify the first word of the Common Minimum Programme (CMP), which of course is the very reason for its conception. But the United Progressive Alliance, UPA, has somehow lived up to its middle name—minimum—by trying to assuage the fears of the minority middle class, a feat it has, unfortunately, achieved admirably. Well, it seems that reforms will be on course, some sort of disinvestment might happen, foreign investment will be encouraged, and that should make the stockmarket happy. In fact, as a document of policy and intent, there is little one can hold against it. However, it's more in the nature of 'what to', rather than 'how to' that prompted an eminent New Delhi-based economist to dub it as "not practicable".

The good news first. It's a document which—if implemented "in letter and spirit", as UPA chairperson Sonia Gandhi promises it would be—will ensure that this government of assorted political entities will last a full five-year term. Apart from addressing the considerations of the major coalition partners in the arenas of politics (repeal of POTA) and international policy (a homeland for the Palestinian people), it also soothes the nerves of various factions on the economic fronts—be it labour, public sector, employment, agriculture, education, or health. "It's a well thought out, balanced, and well-rounded document covering all aspects—political, economic, and societal," says cii's director-general designate N.N. Srinivasan.

However, how the funds needed to bridge the gap between the intent and execution will be raised is unclear. No one is willing to hazard a guess about the total amount needed. However, as an indication, Federation of Indian Chambers of Commerce & Industry (FICCI) president Y.K. Modi says the government should sell loss-making public sector units and shares in profitable ones to...
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