'India spending 3 percent of GDP on defence'

Lieutenant General V. R. Raghavan ((Retd), Advisor, Delhi Policy Group has said that India is spending three-percent of GDP on defence, while sustainable economic development could be helpful in curtailing defence expenditures of any country.
While talking to newsmen here on Friday, Raghavan said that despite the fact, the foreign exchange reserves and gross domestic product are on rising trend in India, the people are still facing economic hardships and facing poverty. Only sense of security, particularly, the economic security could change their lives, he added.
To a question regarding withdrawal of subsidy from agriculture sector in India in compliance with the WTO requirements, he said that no country in the world could survive without providing subsidy to the agriculture sector. Presently, a serious discussion is going on in the European countries, Britain, America and China on subsidy issue. However, every country should develop consensus with other countries to resolve the issue in an amicable way, he maintained. He emphasised the need for close contacts between the people of both India and Pakistan to normalise relations between the two countries.
Earlier, addressing the conference on 'Economic Growth and Security' organised by Delhi Policy Group in collaboration with Lahore University of Management and Sciences (Lums) in co-operation with Union Bank, V. R. Raghavan said only 'military security' cannot bring change in the lives of people. Without raising living standard of the people of rural area through provision of better healthcare and education facilities and providing jobs, no country can achieve the goal of economic development, he added.
Speaking on the occasion, Pro-Chancellor, Lums, Syed Babar Ali said that Asean region is considerably ahead of South Asian region where population of poor people is substantially high as compared to rest of the world. The Saarc was formed with a view to promote trade and political relations among the member countries but unfortunately, the region could not achieve its objective of economic development, he added. He stressed the need for ensuring trade parity among the regional countries. India can tap Pakistan's potential, particularly in energy, oil and gas sector. Moreover, India can also take advantage by developing hydroelectric stations in Pakistan, he maintained.
Babar also emphasised the need for evolving regional strategy for human resource development in the member countries. Investment co-operation can help a lot in achieving the goal of economic development, he added.
Chairman Union Bank, Moeen Afzal on the occasion highlighted the aims and objectives of the conference and said that it would not only restrict on Pak-India relations but also hold deliberations on co-operation among the countries of South Asian region. He also spoke on different aspects of political, economic, environmental and military security. Though, Pakistan and India have various economic institutes but each country can learn from other's experience and knowledge, he added.
Renowned economist and Managing Director Sayyed Engineers, Dr Akmal Hussain emphasised the need for infrastructure improvement and said that roads, airports, ports and transport are most important for investment. Without provision of quality infrastructure, we cannot cause dent on poverty. The government should evolve strategy to ensure labour intensive industry, particularly small and medium enterprises that could generate employment to alleviate poverty, he added.
He proposed establishment of Saarc education foundation under which a standard educational institute would be set up at district level, to impart quality education. He suggested setting up of Saarc health foundation to help member countries to improve healthcare sector. The child-mother health can help produce healthy human resource for the development of economy, he maintained.
He was of the view that regional peace stability is inevitable for economic growth in the regional countries. The governments must evolve pro-poor strategies so that these could help reduce poverty among the regional countries, he added.
Former governor Punjab, Shahid Hamid, addressing the concluding session said that social sector has less share in the budget. Despite cut in defence budgets of both India and Pakistan, appropriate allocations could not be made to bring the infrastructural changes and thus proposals regarding construction of multi-lanes roads are unrealistic. Emphasising the need for developing trust between the two countries, he said reduction in level of conflict would substantially help promote bilateral trade between India and Pakistan.