Karunanidhi warns UPA against 'hasty' reforms

Cautioning the Congress-led United Progressive Alliance government against making any 'hasty' announcements in the name of reforms, key ally Dravida Munnettra Kazhagam on Friday said decisions should be based on "consultations".

"My opinion is that hasty decisions and announcements in the name of economic reforms should be avoided. They should be taken after deep consultations and keeping in mind the future prospects of the country," DMK president M Karunanidhi said.

Responding to a set of questions in party organ "Murasoli," he cited lack of consensus among UPA ministers over the proposed National Investment Board and said the media opinion was also against it.

The proposed NIB, touted as the next major economic reform by the Manmohan Singh government and backed by Finance Minister P Chidambaram, is expected to act as a catalyst for large projects, including roads, petroleum and mines.

It has come under flak from Union Environment Minister Jayanthi Natarajan and Tribal Affairs Minister K C Deo.

Karunanidhi, whose DMK is the second largest UPA constituent with 18 Lok Sabha Members of Parliament, continued to voice his concern against FDI.

Recalling excerpts from a speech by his nephew and party colleague, the late Murasoli Maran, he said the former had argued against FDI in 1992 in Rajya Sabha.

"His remarks are valid even today and therefore we have to fit them in today's context," he said.