Parekh Suggests Large PSU Divestments, Wants Pro-Growth Budget

He said the government’s finances are in a much better position to go ahead with reforms, following steps like reduction in subsidy and checking of wastages and leakages, but it would have to remain within its means.

While echoing Finance Minister Arun Jaitley’s assertion that reforms can happen through 365 days a year, rather than being only on the Budget day, Parekh said that the BJP’s defeat in Delhi elections was unlikely to result into any kind of populist measures at the cost of reforms.

He also flagged a continuing fear among bureaucrats of being hauled up as a major reason for inordinate delays in the decision-making process, saying things can change for better if they are assured of protection.

Parekh, a leading industry voice who has been always vocal with his frank views on the issues faced by the companies and investors from India and abroad, said that the Prime Minister has been time and again assuring the bureaucrats that they should not worry and “act without fear or favour”.

“This is the right thing to do (assuring the bureaucrats), but seeing what has happened to some of their ex-colleagues, bureaucrats are still not hundred percent sure that if they take a call and it goes wrong, will they be investigated or will they be treated like they made money or it was vested interest and all that,” he said.
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