Finance Minister Arun Jaitley has said that India missed the earlier industrial revolutions, with China taking full advantage of the third revolution of low-cost manufacturing, but India has to create impact in the fourth revolution preparing skilled manpower to serve the world. He was addressing students after inaugurating the Symbiosis International University at Mamidipally on the outskirts of Hyderabad on Sunday.
The Union Minister said in order to achieve this, creating quality educational institutions was mandatory.
‘Agriculture under-employed’
Agriculture is now under-employed with 55 per cent people in the sector contributing just 19 per cent of country’s GDP and the country has now tuned into a services nation with 60 per cent of its GDP coming from it, Mr. Jaitley has said.
He said post-1991, economic liberalisation had thrown up opportunities that were not anticipated by the earlier generations and it helped the new generation, cutting across caste, region and economic backgrounds, to create space for themselves.
Mr. Jaitley asked the students not to end up in the mediocre crowd at the bottom and said there was space at the top for the talented and hard workers irrespective of their background, suggesting that they study the most successful businesses of the pre-1991 and post-1991 periods.
“Telangana’s success story”
Mr. Jaitley said the success of Telangana as a new State was the key to the success of smaller States — which the Bharatiya Janata Party (BJP) always believed in. Telangana has started with an advantage of getting Hyderabad — it being the hub of education, research, pharmacy and health facilities of the country. But equity of development now has to spread across Telangana.
Telangana Information Technology Minister K.T. Rama Rao said the government believed in the concept of “Innovate, Incubate and Incorporate” and the right ecosystem was being created in Telangana, which he termed the “Start-up State.”
Promoting research in private institutions was a way forward in this direction. The State would soon come out with a concept – Research Innovation Circle of Hyderabad (RICH) to promote research, he said.
Mr. Rao, who was earlier felicitated by Mr. Jaitley as it was his birthday, assured that the government would consider providing land to the University if it expanded its courses on the lines of its Pune campus. Earlier, SIU Chancellor, S. B. Majumdar requested the government to grant land for expansion.
Disruption
The start of the programme was disrupted by the followers of Shadnagar MLA, Anjaiah Yadav who was not invited onto the stage even as an amused Mr. Jaitley watched the slogan-shouting crowd. Preventing an embarrassing situation, Mr. Rao quickly went down the stage, pacified the crowd and brought the situation under control.
