We’ve been good with outlays, but terrible with outcomes
Apart from the tax proposals, he has indicated that a number of legislative actions, particularly in the area of financial sector reform, would be forthcoming. Many of these, relating to insurance, banking and pension reforms, have been on the backburner for too long and one hopes that they will finally see the light of day. The decision to permit foreigners to invest in Indian mutual funds, as well as the increase in the limits for FII investment in corporate debt, are both very welcome. The proposal to introduce a national manufacturing policy is particularly noteworthy. The increase in allocation for skill development through the Centre’s programmes, the green-friendly initiatives and the increase in the weighted deduction for R&D expenditure from 175% to 200% are all steps in the right direction.
I have long believed that the FM’s job is one of the least enviable jobs going
Be the first to comment.