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Two-day meet on business reforms

A two-day all-India seminar on the 1991 economic reforms of the country started at Dhanbad’s PK Roy Memorial College on Friday.

Hosted by the cradle’s economics department, around 50 economists from across India have come on campus to talk on “Two decades of economic reforms and liberalisation; issues and challenges”.

Renowned economist and former president of Indian Economic Association Raj Kumar Sen graced the occasion as the chief guest.

The inaugural day calendar was divided into three technical sessions. Twenty-one papers were presented on the first day. Panelists also launched lively analyses on the 20 years of the country’s liberalised economy.

The future of economic reforms will be discussed on the concluding day on Saturday, followed by a panel discussion.

On the hits and misses of the post-liberalised era, economist Sen pointed out: “Most Indians are still below poverty line. More than 80 per cent of the country’s population earn less than Rs 50 a day,” said Sen.

Taking a dig at the Planning Commission, he said: “Its new report recommends that those earning more than Rs 32 a day in urban areas and more than Rs 26 a day in rural areas should be considered above poverty line. That’s illogical.”

N.K. Choudhary, former head of PG department of economics, Patna University, said globalisation created many social divisions on regional and economic lines. Echoing him, economist Ramesh Sharan of Ranchi University said inequities had gone up.

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