Union Finance Minister Arun Jaitley today asked the governments to restrain from regulating the sectors in which private competition is already allowed. Delivering the Justice Madhava Reddy Memorial Lecture on Law and Economy in Hyderabad today, he said the Governments should not have regulatory role where public sector is competing with private organizations. <br/><br/>Quoting extensively from the past, Mr Jaitley said the telecom penetration in the country was only one per cent as long as the sector under the control of public sector for more than 50 years and it increased to 80 per cent at present after opening the market for private players. He said the old laws are not able to serve the public sector as they are amended too many times making the provisions counter-productive. <br/><br/>Earlier, inaugurating the Symbiosis International University campus at Kothur in Mahabubnagar district in Telangana state, the Finance Minister said the Countries agriculture sector is underemployed. He said the country can not afford to have 55 per cent of its population to contribute only 16 per cent to the GDP. Stating that He opined that this contributes to inequalities, the Finance minister said the country can aspire for 25 per cent of the economy from the Manufacturing sector. Stating that population graph is showing decline in some countries and the global trend can present opportunities to Indian youth provided they trained well.

Union Finance Minister Arun Jaitley today asked the governments to restrain from regulating the sectors in which private competition is already allowed. Delivering the Justice Madhava Reddy Memorial Lecture on Law and Economy in Hyderabad today, he said the Governments should not have regulatory role where public sector is competing with private organizations. <br/><br/>Quoting extensively from the past, Mr Jaitley said the telecom penetration in the country was only one per cent as long as the sector under the control of public sector for more than 50 years and it increased to 80 per cent at present after opening the market for private players. He said the old laws are not able to serve the public sector as they are amended too many times making the provisions counter-productive. <br/><br/>Earlier, inaugurating the Symbiosis International University campus at Kothur in Mahabubnagar district in Telangana state, the Finance Minister said the Countries agriculture sector is underemployed. He said the country can not afford to have 55 per cent of its population to contribute only 16 per cent to the GDP. Stating that He opined that this contributes to inequalities, the Finance minister said the country can aspire for 25 per cent of the economy from the Manufacturing sector. Stating that population graph is showing decline in some countries and the global trend can present opportunities to Indian youth provided they trained well.