The Plan panel today called for making the
democratic process more participative to deal with
dissatisfactions like the recent agitation by activist Anna
Hazare for implementation of the Lok Pal Bill.
"We need to establish in our country a
deliberative democratic process... Democracy is not only about
elections... If an institution is not perceived to be
functioning then people will device shortcuts," Planning
Commission member Arun Maira said here while addressing the
CUTS-CIRC International Conference.
He said institutions need to be made more
receptive to the public''s wishes. "When official regulations
are not working, people will find other ways," Maira said.
Pointing to the recent four-day long fast by
Anna Hazare and his group, the Plan panel member said people may
have different opinions regarding formulation of laws but
without effective functioning of the government bodies citizens
tend to seek other ways.
He also added that in most instances people
are apprehensive about new regulations.Commenting on regulations
in the financial sector, he said: "To wait for crisis to induce
regulations is probably not the right thing. It should be
voluntary." PTI PPB
NEW DELHI: Prime Minister's economic panel
today said that average inflation this fiscal may ease to 6 per
cent from about 9 per cent at present.
"I think it (inflation) will be around 6 per
cent... probably that is where it will settle down," Prime
Minister's Economic Advisory Council ( PMEAC )) Chairman C
Rangarajan said on the sidelines a CUTS event here.
Wholesale price inflation (WPI) in March rose
to 8.98 per cent, higher than Reserve Bank's projection.
"I think the inflation will come down in
April. What happened in March was quite unexpected... but the
food price inflation is coming down. The wheat production is
very good. Therefore, I expect the food prices to come down
further in April and that should help in the overall headline
inflation coming down," Rangarajan said.
On the impact of rising crude oil prices on
inflation, he said, that has been shielded so far as retail
prices have not been adjusted to international crude prices,
particularly with respect to diesel.
"But for some more time, probably we might be
able to shield the diesel prices from external influences. About
3-4 months from now when inflation rate falls to a much lower
level, perhaps we will have to take a decision on what to do
with the diesel prices," Rangarajan said.
When asked if the Greece debt crisis could
hit foreign capital flows into India, he said, that may not have
a direct bearing on the inflows.
"Total quantum of fund flowing into the
emerging market may come down a little bit but as far as India
is concerned what will decide it (inflow) will be the
perspective on India's growth and India's strength and I do not
think it will be seriously affected," he said.
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