Organised by Ranchnad Research Institute at IMA Hall, Sector 15, the speakers included retired bureaucrats besides others. G. V. Gupta, a retired IAS officer said, ``the lack of foresight on the part of policy-makers has slowed down the process of economic development in the country.'' Sukhbir Singh stressed on trade policy development and blamed natural calamities for the economic crisis to some extent.

B. Chand, a professor of Punjab University, said that the economic crisis in the country was affecting every citizen. ``Instead of depending on business with multinational companies, the stress should be on the development of domestic market,'' he said.