Need for reform-friendly laws stressed

By Our Special Correspondent

HYDERABAD, NOV. 24. The need to recast existing laws and bring in new ones to facilitate the process of economic liberalisation was underscored by speakers at the inaugural of the two-day international conference on ``Law and Economic Change,'' which began here on Saturday.

The inaugural session was addressed by leading lights in the judiciary, including the Chief Justice of India, Mr. Justice S.P. Bharucha, the Attorney-General of India, Mr. Soli J. Sorabjee, the Chief Justice of the A.P. High Court, Mr. Justice Satya Brata Sinha, the Governor, Dr. C. Rangarajan, and the Chief Minister, Mr. N. Chandrababu Naidu.

The Chief Justice of India said laws had not changed faster enough to keep pace with the liberalisation. He, however, warned that in the process of liberalisation, labour should not be allowed to suffer at the hands of industry. There was need to redraft labour laws and corporate laws carefully.

In his opening remarks, Mr. Justice Bharucha paid a rich compliment to the Chief Minister. ``My last visit to Hyderabad was in 1998 and I now saw a visible change for the better. The present Chief Minister must take credit for it,'' he said.

The Chief Justice observed that the judicial activism in India did scare businessmen and industrialists abroad. There had been some unwarranted intervention in business and industry by way of Public Interest Litigation. At the same time, he said he was not prepared to downgrade the importance of the PIL as an instrument of justice.

Mr. Justice Bharucha said there was urgent need for clear and lucid laws to facilitate implementation of the economic policies decided upon by Parliament.

The Governor, in his inaugural address, dwelt at length on the evolution of economic laws from the licence raj of early independent period to the present times of economic liberalisation.

Dr. Rangarajan said if competition was key to improving productivity and efficiency, it went without saying that the legislative framework must be such as to ensure that there was no violation of the competitive principle.

The Chief Minister said the dispute was no more about the reforms but on the method of reforms. Economic reforms were not an innovation but an inevitability.

Mr. Chandrababu Naidu said the speed and content of the economic change would depend on the appropriate law. The political landscape changed rapidly. Federalism in true sense emerged with the emergence of the regional parties. Performance by the State level leaders assumed significance.

The Chief Minister said the economic changes called for a review of the Constitution and a plethora of laws.

The conference is jointly organised by NALSAR (National Academy of Legal Studies and Research ), Hyderabad and Griffith University, Queensland, Australia.

Mr. Soli Sorabjee stressed that the modern legal system should go hand in hand with the modern economy. There is need to rationalise and streamline the labour laws. The taxation laws, especially the Income Tax in India was the most complicated. Yet foreigners have confidence on our legal system, he said and cited the cases wherein foreign firm won legal battles in Indian courts.

Mr. Justice Sinha said laws must be recast and reinterpreted to curb unhealthy trends in the process of liberalisation, privatisation and globalisation.

Mr. Justice U.C. Banerjee, Judge of the Supreme Court, said if the law lagged behind, it would have disastrous effect on society.

An MoU was signed on the occasion between NALSAR and Griffith University for joint studies and research.

Dr. A.M. Singhvi, senior advocate of the Supreme Court, and Prof. Drew Nesdal, Pro-Vice Chancellor of Griffith University spoke. Prof. Ranbir Singh, Director of NALSAR, welcomed the gathering. Prof. Amita Dhanda, Registrar of NALSAR, proposed a vote of thanks.

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