INDIA NEEDS TO CATCH CHINA BUT GAP IS GROWING: FINANCE MINISTER
AFP, April 22, 2008
NEW DELHI (AFP) — India needs to catch up economically with China but the gap now is growing rather than shrinking, Indian Finance Minister P. Chidambaram said in an interview published Tuesday.
"We want to catch up with China but that requires greater political consensus on the needed (economic) reforms," he told the Wall Street Journal.
India is governed by an unruly minority Congress party-led coalition propped up in parliament by communist parties which strongly oppose liberalisation that economists say would boost growth.
China's one-party government can be quicker in spurring growth, Chidambaram said, adding "the distance between India and China is in fact increasing, not reducing because China's growth rate is faster."
"They are in the position to take some decisions which we are not," he said. "We have to follow a process that is more consultative, more deliberative and more amenable to judicial scrutiny."
The divergence between the Indian and Chinese growth rates was an area of concern, he said.
(...) [artículo aquí]
AFP, April 22, 2008
NEW DELHI (AFP) — India needs to catch up economically with China but the gap now is growing rather than shrinking, Indian Finance Minister P. Chidambaram said in an interview published Tuesday.
"We want to catch up with China but that requires greater political consensus on the needed (economic) reforms," he told the Wall Street Journal.
India is governed by an unruly minority Congress party-led coalition propped up in parliament by communist parties which strongly oppose liberalisation that economists say would boost growth.
China's one-party government can be quicker in spurring growth, Chidambaram said, adding "the distance between India and China is in fact increasing, not reducing because China's growth rate is faster."
"They are in the position to take some decisions which we are not," he said. "We have to follow a process that is more consultative, more deliberative and more amenable to judicial scrutiny."
The divergence between the Indian and Chinese growth rates was an area of concern, he said.
(...) [artículo aquí]
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