Labour

The Congress salutes the Trade Union movement on the key role it has played in securing and nforcing the rights of the working class. The time has now come to forge a national consensus on new industrial relations Bill that reflects the contemporary needs of the economy. The Congress believes that employer-employee relationships are partnerships for prosperity and that such partnerships should be fostered and sustained on a bilateral basis with the government playing a facilitating role.

Facilities in all existing industrial training and vocational training institutes and in polytechnics will be upgraded to international standards. Private industry will be actively encouraged to participate in the running of these institutes. Social security and insurance schemes for workers in the unorganised and informal sectors, particularly women, will be strengthened and expanded.

The Congress will spearhead a campaign to ensure that existing legislation relating to minimum wages is implemented without any dilution in all sectors of the economy. The minimum wage itself will be kept under constant scrutiny. Laws that have been made in respect of labour in the unorganised sector will be implemented vigorously and where necessary new laws will be formulated.

All statutory dues to workers in the public and private sector companies will be cleared in a time-bound manner. The interests of workers affected by judicial rulings on polluting and hazardous industries will be fully protected.

Textiles

Considering the crucial importance of the textiles industry in India, particularly from the point of view of employment and exports, the Congress will come out with a comprehensive, forward-looking textile policy. This policy will, among other things, deal with issues relating to improving the productivity of cotton cultivation, the modernisation of the ginning and processing industries, the technological upgradation of spinning and weaving mills, the revival and rehabilitation of sick mills, the regulated growth of the powerlooms industry and the provision of basic civic infrastructure in powerloom centres, the reliable and assured supply of raw material to and marketing of handlooms, an appropriate fiscal policy that will promote the balanced development of all segments of the textile industry, substantially increasing the global market share of Indian textiles, etc.

Special consideration will be given to social development schemes for the well being and welfare of handloom weavers. An area-based approach will be adopted so that handloom weavers who are clustered in regions throughout the country will benefit.

Capital Markets

The Congress will take immediate steps to revive the primary market and put the growth of the capital market on a sounder and firmer footing. The debt market will be developed as will the retail government gilts market. Foreign Institutional Investors (FIIs), Venture Capital Funds and Private Equity Funds will continue to be actively encouraged. Their sentiment on the country must be kept positive on a sustained basis. Domestic institutional players will be developed to become effective market participants. Regulation of the capital market to protect the interests of the small and ordinary investor will be made more effective, and strict and timely action will be taken against all defaulters. Disinvestment of government shareholding in public sector companies and of the holding of financial institutions in private companies will be considered as options to revive the capital market and to offer new investment opportunities to the Indian people.

Infrastructure

The rapid expansion of infrastructure that India desperately needs requires the mobilisation of long-term finances. The insurance industry will be restructured to enhance the flow of long-term funds to infrastructure development. LIC and GIC will be strengthened, corporatised and professionalised to equip them to deal with competition. Private companies with majority equity to Indians will be allowed in all insurance and pensions businesses. Social obligations will be on an even footing for both public and private companies in the insurance industry. The Insurance Regulatory and Development Authority will be given statutory status and be made an effective instrument for managing the restructuring of the insurance industry.

Infrastructure organisations in the public sector in power, surface transport, ports, railways and communications have to function in a commercial manner and any deviation from commercial functioning must be made explicit and must have a clearly defined social purpose. A comprehensive long-term plan covering roadways, railways, airways, waterways etc. will be made and implemented to bring about a balanced and required development of national transport system. This will be done with the co-operation and assistance of all the sectors in the country.

Measures will be taken to remove the hurdles in the faster implementation of all infrastructure projects. The legal and regulatory framework for facilitating private investment in infrastructure will be clearly defined and made completely transparent. Public investment in infrastructure must expand but this expansion must be accompanies by structural, organisational and pricing reforms. Public utilities must work for the public. There is simply no other alternative to this simple principle. There is need for greater co-ordination among central government departments and agencies and between the central government and state governments in the implementation of infrastructure projects. Mechanissms for bringing about such co-ordination will be established and strict time-schedules for project completion will be followed.

Power

The Congress attaches the highest priority to regulatory, organisational, legal and financial reforms in the power sector to enable it to function in a commercial manner. It will actively support restructuring programmes being undertaken by various state governments. A stable national grid will be built speedily. Public investment in power will receive top priority even as efforts are made to encourage Indian and foreign companies with the objective of adding a total of at least 8000 Mw of generating capacity every year. The pace of construction of hydel projects particularly will be speeded up.

Nuclear power will be given all encouragement and the goal will be to reach 10% of electricity supply from nuclear sources by the year 2010. Renewable sources of energy have special significance for India, particularly in specific regions. Wind energy has great potential in mountainous and hilly regions, while solar energy can emerge as a major source for lift irrigation in the Gangetic region. The entire renewable energy programme will be given a new impetus both through new investments and technologies.

Oil, Gas & Coal

The Congress will take immediate steps to augment oil exploration and production capability through both the public and private sectors, both Indian and foreign. Overseas exploration will be also be encouraged. The waiting list for LPG connections will be cleared within two years. The administrative pricing mechanism will be fully restructured in the next three years according to the schedule already in place with subsidies only for kerosene to be met from the budget. The Congress will establish a national gas grid and an independent hydrocarbons regulatory and development authority. New sources like liquefied natural gas and natural gas hydrates will be developed.

The Congress will encourage new investment in coal exploration, mining and production through Indian and foreign companies. Legislative changes in support of this objective will be introduced. New sources like coal bed methane will be developed. A clean coal technology utilisation mission will be launched. A major programme of environmental management in the coal industry and for improving the quality of life in the coal mining areas will be implemented.

Communications

The existing DOT will be corporatised at all levels. This will enable the public sector cope with the emerging challenges of competition and new technologies. India must begin to add at least 8-10 million new lines every year through both the public and private sectors. Serious problems have arisen in different telecom sectors involving private multinational operators. These will be resolved keeping in mind the national interest.

Serious private companies will be given every encouragement to emerge as competitors to a restructured DOT. Existing foreign investment ceilings will be reviewed so as to enable the participation of technology-rich global majors in the expansion of our telecom network in a direct and less complicated manner than at present. The independence and autonomy of the Telecom Regulatory Authority of India will be fully protected. Competition will be introduced in all segments on telecom industry. All gram panchayats will be provided with telephones by the end of the century. The national STD network will be further expanded. The postal system will be modernised. To speed up transmission of money orders, a satellite money order service will be launched to cover all towns.

The Congress will give full managerial and commercial autonomy to government-owned media and equip them professionally to meet the challenges of competition effectively. Steps will be taken to maximise the benefits to India from participation in the global media industry.