NEW DELHI: Prime Minister Chandra Shekhar on Thursday charged previous governments with resorting to populist programmes and soft options which he said had pushed the country to the brink of an economic crisis.
Addressing the forum of financial writers here premier Shekhar said such measures taken in the last four years by Congress-I and Janata Dal governments had forced his government to resort to the loans to tide over the difficult balance of payment position.
But though the situation was desperate it could be retrieved if only all of us got together in the interest of the country he added.
Blaming the Congress-I for its squander mania he said those in power thought they would bring EL Dorado through foreign loans. Foreign loans cannot bail out a huge country like India
I am quite convinced that it is not possible to build a country through foreign loans or resources from all the countries. We will have to enthuse the toiling masses and lighten our belts to save our meager resources. Unfortunately this was considered very impractical by previous governments he said.
NEW DELHI: India and Pakistan signed two agreements to ease tension on the border along the line of control in Jammu and Kashmir.
The agreements pertain to advance notification of military exercises and prevention of air space violations.
The agreements mark the end of the fourth round talks between the foreign secretaries of two countries which started here on Friday.
The foreign secretaries of the two counties met thrice last year to defuse a war-like situation along the line of control in Jammu and Kashmir.
Article extracted from this publication >> May 3, 1991
