Infra spending
There are innumerable projects stuck for one reason or the other that need to be revived.While a lot has been done, it needs to be undertaken on a war footing. One should remember the benefits of the Golden Quadrilateral projects which were initiated 13-14 years ago
GST
The Goods and Services Tax has been hanging fire for over four years, but it's never been as close to implementation as today. The Bill must be cleared as soon as possible. The introduction of this Act will have two major benefits- it would increase GDP by about 1.5-2 %, besides bringing stricter tax compliance and making the unorganised sector accountable
Make In India
This pet project of the PM is neither just three words, nor a replacement for made in India. It goes much beyond that and has serious implications for India and its masses. Manufacturing can only happen if you have the infrastructure, necessary manpower and facilities like railway, roads and port to move the raw material and finished goods. Currently, we need to do a lot in each of these activities
Banking system
The banking system seems to be creaking and cracking. The nonperforming assets (NPA) of banks have reached proportions which their profits cannot sustain.
RBI governor Raghuram Rajan needs to be appreciated for the proactive steps being taken to identify and punish wilful defaulters and uncooperative borrowers. A handful of borrowers have virtually held the banking system to ransom
DivestmentThe government needs to get over this bogey once and for all. It is not the job of the government to be running businesses, but to be a catalyst. Divestment is undoubtedly crucial from the fiscal deficit point of view, but it is even more crucial that the right message-that the government does not plan to run business- would bring money in the form of FDI by truckloads. The lingering divestment of the government's residual stake in Hindustan Zinc and BALCO is now more than a decade-old. This government needs to wrap up all at the earliest
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