KOLKATA, Nov 7:
Senior BJP leader Yashwant Sinha today said no state model of development was ideal for the nation’s growth as many national issues are not dealt with by them.
Sinha’s comment was made in response to a query on whether it was the Gujarat model or the Bihar model which was good to replicate at the national level.
“The state model is valid for a number of areas like agriculture, rural development, education and health,” he told the interactive session organised by Bharat Chamber of Commerce here.
“Many national issues like banking and markets are not dealt by the states,” he said.
Commenting on the present state of the country’s economy, Sinha, a former Union Finance Minister said, “Policy makers’ pathetic dependence on the US Fed is not good … Steps should be taken to reduce this vulnerability.”
Stressing on the need for sustained economic development, he said, “It should not be the case that there will be three years of growth at a scorching pace and then a period of recession, which is being witnessed now.”
There was a need to spur domestic demand, increase domestic savings and increase the efficiency of investments.
On current account deficit, the BJP MP said the government was saying that it would be below USD 60 billion.
“But nobody is saying what percentage will this be as a proportion of GDP.” (PTI)
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