The Hindu Business Line : Social sector spending stressed

THE three-pronged `strategy' of liberalisation, privatisation and globalisation should be accompanied by the setting up of a strong security net and a concomitant increase in social sector spending, the Karnataka Minister for Large and Medium Industries, Mr R.V. Deshpande, has said.

Delivering the inaugural address at a national workshop on `Accelerating disinvestment of State enterprises' here today, Mr Deshpande said care should be taken to ensure that the poor did not end up paying a disproportionately high price for the restructuring of the economy.

The Minister said that no country could afford to follow an isolationist policy, disinvestment apparently being the way to avoid isolation in the globalised era. The Karnataka Government, on its part, was actively pursuing a policy of judicious disinvestment and part-privatisation of a few State enterprises was in the offing, Mr Deshpande said, adding that private investment had already begun flowing into various infrastructure and other projects.

The three-day workshop is being organised by the Project for Economic Education, Indian Liberal Group, Kanara Chamber of Commerce and Industry, Vishleshan Trust and Friedrich-Naumann-Stiftung.

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