Good governance must for better economic growth;Kamal Nath

New Delhi, Dec 20 (UNI) Advocating good governance to achieve higher rate of economic growth in the country, Commerce and Industry Minister Kamal Nath today said the process of economic liberalisation and globalisation are intrinsically linked with it.

Citing the example of south east Asian countries at a function here, he said per capita income of these nations were only marginally better than the sub Saharan Africa in 1960 but rose five times theirs by 1995, primarily because of good governance. He said since then the link between economic development and governance is being increasingly realised, adding the good economic governance will go a long way in building the necessary social capital needed for promoting growth.

He said in the wake of robust 9 per cent plus per cent growth India is now more confident, more enterprising and more competitive but still governance has to ''address several issues and address quickly.'' He identified decentralisation and deconcentration, accountability and transparency, full access to justice, elimination of all forms of discrimination, maintenance and fostering of peace, and adequate budgetary provision for social priority areas as indicators of good governance.

Stating 'inclusive growth' to be the foremost goal, Mr Kamal Nath listed poverty, unemployment, low agriculture growth, provision for safe drinking water and sanitation, education, housing and health care for all as vital challenges that have to be tackled urgently.

UNI