BJP pushes for correcting tax and growth policies

Jan 20 2014, 09:50 IST
Comments 0
The BJP’s economic resolution has steered clear of a single tax like banking transaction tax and instead pitched for simplification of the fiscal regime. The BJP’s economic resolution has steered clear of a single tax like banking transaction tax and instead pitched for simplification of the fiscal regime.
SummaryBJP says UPA govt tried to pass the buck on RBI for its failure to check inflation.

boosting exports to curb the CAD and encouraging the manufacturing sector to enable it to contribute at least 20 per cent to the GDP.

Singh also promised novel ventures such as farmer markets and a special working committee on organic farming.

Devendra Kumar Pant, chief economist at India Ratings said, “A number of steps have been taken in each of these areas but there sure needs to be a firm roadmap to revive growth”. For instance the National Manufacturing Policy in any case targets to increase contribution of manufacturing to GDP to 20 per cent so the details will have to be filled in, he said.

The Indian economy slowed to a decade low of 5 per cent in FY13 and GDP growth is likely to remain muted this fiscal too after registering a 4.6 per cent growth between April and September 2013. Manufacturing activities now account for only 14.6 per cent of value add for the economy this financial year.

The BJP resolution has also punched holes in the UPA government claim that it has provided the best deal to the farmers. With data from the Commission for Agricultural Cost and Prices the party has attempted to show that rising minimum support prices have been nullified by faster rising input costs.

So it concludes that farmers are earning less from their efforts. The margin of profit has decline for both paddy and wheat cultivation has shrunk to 8.5 per cent and 13.91 per cent in FY13 from 34.77 and 33.17 in FY11, the document shows.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...