NEW DELHI- Further Thrust towards Import-Led Growth

The thrust of the import and export policy for 1990-93 is, as it has been for the past five years, towards import-led growth and the building up of a special, highly-privileged export sector in the economy THE export-import policy for April 1990-March 1993 was announced within less than two weeks of the presentation of the union budget for 1990-91. If Arun Nehru, the commerce minister in the NF government, wanted to make it a big media event for himself, he was thwarted in this attempt when he could not be present himself to announce the exim policy at the press conference. His speech was read out by the secretary in the commerce ministry. Nehru was held back in the Lok Sabha when the constitution amendment bill to extend president's rule in Punjab failed to muster the requisite strength for its passage. This event only highlighted the fragility of the coalition government and the uncertainties that beset its functioning. This fragility and uncertainty are of a wide-ranging nature and find expression in many ways. The pulls and pressures that have to be reckoned with result in a lack of coherence in policy-making. In the case of the framing of the exim policy, however, and unlike some hesitant, half-hearted tinkering in some areas of official concern after the change of government, what has been proposed is only more of the same and any change in direction and content of policy has been scrupulously avoided. The thrust of the exim policy is, as in the past five years, towards import-led growth and building of a special export sector in the economy.