UPA releases common minimum programme

Our Economy Bureau
28 May 2004

New Delhi: The United Progressive Alliance (UPA) released its common minimum programme (CMP) yesterday.

The document states that profit-making public sector undertakings (PSUs) will "generally" not be privatised and all privatisations "will be considered on a transparent and consultative case-by-case basis."

The Navaratna PSUs would be retained in the public-sector fold and no PSU would be privatised if it leads to the emergence of a monopoly or restricts competition.

The CMP added that public sector insurance companies not be privatised and the social obligations imposed by regulatory bodies on private banks and insurance companies "will be monitored and enforced strictly."

The other specific concessions made to the Left are the rejection of the "idea of automatic hire and fire" and not taking away or curtailing the rights and benefits earned by workers, "including the right to strike according to law."

While recognising that "some changes in labour laws may be required," the CMP has made it clear that this relates to only laws "other than the Industrial Disputes Act." In other words, the industry can, at most, expect revisions in other legislations such as the Contract Labour Act.