Friday, January 1, 2010

"Things To Do" list for Union Finance Minister (2010)






Here it goes:
1. Give the economy a booster dose of "Viagra" by fast tracking Disinvestment, GST Implementation, Deregulating Oil Pricing, New Direct Tax Code implementation, returning to Fiscal Prudence Measures.

2. Set up an annual target of USD 50 billion for FDI. Coordinate with states to develop a single window clearance system for foreign investment and identifying areas in which FDI is required. A committee of state FMs chaired by the Union FM to be formed to focus on achieving the target. (Current status - USD 17 Billion of FDI from April -December 2009).

3. Increase the scope of social sector schemes like SSA and NREGA. Widen SSA in scope by concentrating on universal enrollment and retention with focus on development of technical skills. Develop R & D capabilities and provide incentives and tax breaks for R & D expense to the industry. Focus on R & D in agriculture and pharma. NREGA to be made a model for implementation of an employment guarantee program for urban poor.

4. Judicial, Police and Administrative reforms.

5. Set up a Centre - State Relation Coordination Forum with participation of Union and State Cabinet Ministers. Matters concerning state centre relations to be resolved through this forum.

6. Capital and Money Market reforms - Widen the scope and functioning of Corporate Bond Market and Derivatives Market. Define a Bankruptcy Code for companies.

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