'Enabling India' - FICCI's agenda for the new government - End Tax Adventurism

By Vijay Kumar

FICCI has suggested certain measures to the new Government to enable India.

++ Broad-based regular communication from PM's level

++ Cabinet-led decision making with full authority and accountability

++ Roadmap to 8% growth by 2017 and 10%+ by 2020

++ Creation of a Food Inflation Response & Strategy Team (FIRST) under PMO

++ Outline National Agenda for Job Creation

++ Strong Centre-State linkages, greater decentralization for development

Mitigate Food Inflation

++ De-list horticulture products from APMC Act

++ Higher ProductionProductivity measures

++ Focus on post-harvest distribution infrastructure

++ Enhance Milk production ('White Revolution')

++ Enhance Fruit & Vegetables production ('Rainbow Revolution'); use of arid land

Revenue Expenditure Management

++ GST in 2015

++ Revisit Subsidies and Revamp MNREGA (for asset creation)

++ Review DTC - inter-alia need for conducive environment for taxpayers

Address Tax Environment

++ End Tax Adventurism

++ Resolve RetrospectiveCapital Raising related tax issues

++ Retrospective actions, if at all, must invariably favour the taxpayer

++ Rebated Income Tax for small, start-up businesses linked to employment creation