10 must dos to reignite growth
Feb 18 2014 , New Delhi
expected form part of the UPA’s election manifesto.
Here’s how they stack up:
Fiscal consolidation: Must achieve fiscal deficit of 3 per cent of GDP by 2016-17 and retain it below that, going forward
Current account deficit: FDI, FII, ECB inflows necessary to finance CAD that will stay on in the foreseeable future
Inflation & growth: RBI must harmonise price stability with growth imperatives in its policy objectives
Financial sector reforms: Need for immediate implementation of recommendations by financial sector legislative reforms commission
Infrastructure: Must rebuild and add to our infrastructure backbone by adopting PPP and other proven models and creating new financing structures
Manufacture: Focus on export manufacturing. All central and state taxes on exported products must be waived or rebated, and minimum tariff protection given to India-made goods
Subsidies: Must choose absolutely necessary subsidies for the absolutely deserving
Urbanisation: Wealth must be tapped to rebuild our cities with new governance model.
Skill development: Skill development must rank alongside secondary education, university education, total sanitation and universal healthcare
Centre-state responsibilities: States must share financial costs of implementing flagship programmes so that the centre may allocate resources to defence, railways, national highways and telecommunications.