Former minister during the NDA rule, Arun Shourie has come out strongly in support of the reforms that the Prime Minister has announced, including the recent hike in diesel prices as well as allowing FDI in multi-brand retail.
What makes it uncomfortable for his political party is that he is the only BJP leader who has come out publicly supporting the economic decisions.
Speaking to CNN-IBN today, Shourie said, “Subsidising import dependance is not sustainable in the long term. It is also true that our deficits have become unmanageable.”
Terming the reforms as a ‘strong move’ by PM Manmohan Singh, he stressed on the need for reforms without waiting for legislation.
He also said that the increase in diesel prices would encourage the production and usage of non-conventional sources of energy like solar, hydroelectric and wind power. This will also make this sector viable given it would otherwise receive little patronage, he said.
When asked about the issue of FDI in multi-brand retail, Shourie said he believed that the Indian kirana stores would be unaffected and pointed out that despite the presence of large-format Indian retail chains the local grocery stores were still thriving in India.