Mumbai: Noted industrialist Rahul Bajaj today (May 19, 2004) said the choice of Manmohan Singh as Prime Minister is a wise step as "he is a man for India and common man, and not just for the industry".

"He is pro-people, pro-agriculture, pro-reforms and not for the industry alone," Bajaj, who expressed his happiness on this move, said.

The PM had to be from Congress with a pro-liberalisation stance and who would be able to carry forward the process of reforms despite understandable reservations from the Left parties on privatisation, he said.

Much would depend on the Common Minimum Programme, which takes into account the concern of the Left parties and manifestos of the allies, and allocation of key portfolios like Commerce, Finance and Home, the industrialist added.

"I would like him to present the first Budget of Congress-led Government as was done once by Jawaharlal Nehru, to give a strong signal and support to the industry and markets," Bajaj said.