Survey seeks policy shift, taxes slashed
The government’s pre-budget economic survey has recommended radical policy changes including foreign investment in multi-brand retail, increasing work hours for factory workers and allowing overseas institutions in higher education.
The survey, which predicted the economy to grow 7 per cent this fiscal year, also pushed for abolishing fringe benefit tax (FBT), surcharges and cesses. It also set a Rs 25,000 crore annual revenue target by divesting government equity in public sector undertakings.
But question marks hang over how many of these recommendations could fructify as a persisting global economic crisis, political compulsions and a shaky monsoon at home loom in the backdrop.
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To read the ePaper, visit: http://epaper.hindustantimes.com
The survey, which predicted the economy to grow 7 per cent this fiscal year, also pushed for abolishing fringe benefit tax (FBT), surcharges and cesses. It also set a Rs 25,000 crore annual revenue target by divesting government equity in public sector undertakings.
But question marks hang over how many of these recommendations could fructify as a persisting global economic crisis, political compulsions and a shaky monsoon at home loom in the backdrop.
To read the full article, click here..
To read the ePaper, visit: http://epaper.hindustantimes.com
Labels: backdrop, compulsions, crisis, economy, factory workers, fiscal year, fringe benefit tax, Monsoon, multi brand retail, pre budget, predicted, radical policy, revenue target, surcharges, survey, tax
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