Infrastructure
Government needs to improve the
overall infrastructures in the country from roads to training lines to ports.
Also there are numerous infrastructure projects from sectors like power
generation, roads and industrial zones etc that are pending at different stages
because of leniency on the part of government. Also government needs to
formulate a better policy that incentivizes timely execution of infrastructure
projects. For this there should be efficient land acquisition and
rehabilitation policy in place.
Taxes
The government should cut a clear
path in the Budget for the implementation of the Goods and Services Tax (GST)
as this is pending for long time and it will help taxation more smooth and
justified. So central government must address to issues raised by state
governments in this regards. Also as a measure to help the common man, income tax slabs need to be
raised.
Subsidies and Social Security Programs
It is important that government must try to bring down the level of
subsidies. There are a number of people in the government who opposes and
advocates cutting and scrapping any kind of subsidies on the basis of different
theories. But such decisions on more dependent on socio-economic profile of the
country than any theory. When millions of people are living below poverty line in India, any such demand cannot be good for the country. Instead of cutting
subsidies, it should distribute in more efficient ways. Previous government was
advocate of direct cash transfer of different social security benefits such as
pensions and subsidies under Right to Food Act, LPG subsidies etc so that it
can plug the leakage but it has more negative aspects than positive ones.
Instead it should make public distribution system more efficient and
transparent. Basically government is required to focus of good
quality fiscal consolidation that restructures away from wasteful and
distorting subsidies.
No comments:
Post a Comment