Appreciating PM Manmohan Singh's concern over "vulgar display" of wealth by industrialists, ASSOCHAM demanded a reduction in the number of ministries from 53 to 40.
CHENNAI: Advocating cost cutting, ASSOCHAM on Sunday demanded downsizing in the Central government by reducing the number of ministries from 53 to 40.
ASSOCHAM president Venugopal N Dhoot told a press conference here that some ministries should be merged with others for operational efficiency and better functioning. The money saved through the exercise could be utilised for infrastructure development, he said.
"When the country attained Independence, there were only 18 ministries. As time progressed, the number multiplied, with costs to the national exchequer escalating to a whopping Rs 75,000 crore every year," he said.
Appreciating Prime Minister Manmohan Singh's concern over "vulgar display" of wealth by industrialists, he said this should be banned. "The wealth generated by them should be used to eradicate poverty in the country," he said.
Dhoot said FDI in retail trade should be allowed in stages so that those involved in it could prepare themselves for some other profession.
On the demand for reservation in the private sector, he said it should be voluntary and not mandatory.
He said the Tamil Nadu government should take efforts to set up a "Singapore corridor" as a number industrialists from Singapore had evinced interest in shifting their units here due to low costs.
"Tamil Nadu can attract an investment of Rs 15,000 crore through this corridor," he said.
Dhoot, who is also chairman of Videocon, said his company was interested in setting up a plasma TV manufacturing unit in Tamil Nadu, provided the state government offered more concessions.
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