By N Sanatomba
Mail News Service
New Delhi, Oct 8 : Two day economic editors’ conference began today at the Shastri Bhavan New Delhi. The conference organised by the PIB Government of India was inaugurated by the Finance Minister P. Chidambaram. He said FDI in retail sector will improve financial position of the country. Elaborating at length the benefits that will be brought by FDI in retail sector he said coconut is sold for Rs three per piece but buyers buy it at Rs 20 per nut. The rest Rs 17 had gone to intermediaries. By implementing FDI farmers will earn more and buyers will get the item at cheap price.
Asked about the increasing inflation rate he said when the demand exceeds supplies inflation shoots up, the other sector that attributes to rising inflation rate is fiscal deficit, it means when the Government indulges in borrowing spree. When asked whether FDI would give benefit to the poor common masses and the possible entry of Walmart to Manipur. He said it depends on the number of population in the town. The population should be not less than 10 lakhs. If the population in Imphal is more than 10 lakhs it may see entry of Walmart. The initiative however should come from the state Government. State Government will have the right to resist the entry of foreign companies on their soil. He flatly denied entry of foreign companies at the rural areas for running retail business. But farmers will get benefit. Refrigerated vans will come for buying the agri products and infrastructure will come up. Immediate changes will be seen.
Telecommunication Minister Kapil Sibal spoke at length about the development that may be brought by telecom sector. Public services can be delivered electronically. But the state Government should identify the areas where the focus should be paid. Pass ports can be demanded on line which will be delivered electronically. Lots of changes will be seen. Bank balances can be checked. People will get enormous power that is the vision the Government at the centre has set for fulfilment.
Minister for Railways, Road Transport and Highways said our national highways constitute merely 1.7 percent of length of road network, but they carry 40 percent of traffic on roads. This provides an immense potential for growth and development of road network and the Government is striving to excel. The Chairman of Railways Board Vinay Mitta who also spoke said Jiri-Tupul Imphal rail line which is 98 kms long is under construction and it will be completed by March 2016.
It was brought to the notice of the Union Minister that even after 60 years of national independence Manipur is not getting a properly maintained national highway road though there are two national highways connecting Manipur with the rest of India and the fund starved Government of Manipur is not in a position to maintain these national highway roads moreover completion of the rail line construction in the near future is doubtful. The minister was asked to give more funds to the state Government for hghway road maintenance. Union Minister Dr. C.P. Joshi said only one thousand plus crores of Rs had been earmarked for maintaining 70000 km long roads. But since the matter has been brought to his knowledge he would look into the matter.
Read more / Original news source: http://manipur-mail.com/two-day-economic-editors-conference-begins-fdi-will-give-benefits-to-poor-farmers-says-chidambaram/
