The Prime
Minister’s Office is on right track
In its last 18
months, the government faced up to an economic reality. In June 2014, the
Prime Minister’s Office (The PMO) wanted to know if production was going up and jobs were being created on the ground.
Three months later, the government
launched its Make in India programme to encourage the world to use the country
as a global production hub. It promised reforms on norms for foreign direct
investment — many of which it subsequently delivered — and a fix for problems
that gave the country a poor reputation among foreigners, including
unpredictable tax policies and a difficult regulatory environment.
To capitalise
on the success of Make in India, the government must now show sustained
improvement on the ease of doing business and create a transparent and stable
tax environment to prove it is capable of delivering on its intent. Make in India project is one of the most attractive project so far, and
India is getting good response from all over the world
The government should
be ready to create right environment in the country and pay attention to good
governance, tackling of bureaucratic hurdles, coming up with more paper
documents, quick decision making, making available good infrastructure etc. If
PM wants his dream regarding Make In India become a success than his government
has to do work on above said area. Make in India will give returns and it is
RETURNS that are important
The PM’s “Make
in India” drive, culminating 18 months after intense world lobbying,
personally, holds out much promise, particularly to the desperately poor (the
last PM said 67% of the population need food subsidy to survive), although the
Government could and should address the massive inequality in the country (4th
world rank in no. of $ billionaires; world rank 130/188 in Human Development
Index 2014, worse than Pakistan and Bangladesh; highly regressive tax system,
etc).
The PMO should
remain focused on what matters to the country most.
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