Page 59 - 15JUNE2019E

INFRA

Modi pegs 100-day agenda

in IT, infra, GST, defence!

Aiming at a US $ 5 trillion economy in its manifesto the construction of Ram Mandir and abrogation of
article 370, procurement of Rafael will have to wait for the later period .. even though the economic growth is
likely to slide to below 7 per cent .!. A report by SANJAY THAPA JEET

aving swept into second term In its 2019 manifesto, also likely to face an upward pressure
with a thumping major- in the coming days with the monsoons
ity, the Modi 2.0 government the BJP has aimed the playing traunt in the LTE with a precipi-
has unleashed its 100 day Indian economy to tation of 95 per cent , with a deviation of
Hagenda wherein it is likely 10 per cent either way. This may cause
to fine-tune the personal income tax in touch US $ 5 trillion an upward spiral in the food inflation
the budget, spur private consumption, economy by 2025 around the middel of June after the mon-
double farm income by 2022, expand soons takeon by the first week of June as
and simplify GST, bank recapitalisation is being expected.
and consolidation, national retail policy, to push fuels under the GST would take a A national retial policy is being
infra push, hike in defence budget. The longer consideration of the GST Council pushed by the DPITT under the Com-
construction of Ram Mandir and abroga- where all the stake holding states would merce Ministry. The department has
tion of article 370, procurement of Rafael have to agree to a common consensus readied a plan to push e-commerce and
will have to wait !. and thus may take a longer time period. domestic trade. The policy which was
As announced in its 2019 manifesto, Apart from this, there is also on agenda under the Consumer Affairs Ministry
the BJP has aimed the Indian economy to enhance insurance cover to migrant has been shited to DPITT recently. The
to touch US $ 5 trillion economy by 2025 workers as well as extend cover to 100 policy is expected to push domestic trade
This comes at a time when the economy million workers under the ESIS. Jan Au- amongst 650 million traders .All stake
is expected to dwindled down to 6.1 per shadi kendras are likely to get a fillip in holders including state government and
cent to 5.9 per cent in the last quarter of the100 days agenda with more pathol- traders are likely to help boost the export
the FY 2018-19 thus bringing down the ogy labs and medicines becominng growth apart from enhancing domestic
full financial years projection to below 7 more affordable in the next 100 days of trade.
per cent from earlier 7.2 per cent. On the the Modi 2.0 era. Another sector that is likely to face
personal income tax front the Modi gov- On the fiscal front however it would major upheavel is the education sector.
ernment had setup a task force in 2017 be tight rope walk as the targetted fiscal The Modi 2.0 government is planning a
to reform the 50 year old income tax act deficit of 3.4 per cent of the GDP for FY new national education policy to include
legislation. In this direction the Modi 2.0 2019 and FY 2020. On the hand given the 10 odd Institutes of Eminence to the pre-
government likely to formalise a leg- drop in the manufacturing sector to a sent number of 20. The HRD Ministry is
islation which it passed in the interim 20 month low at 0.1 per cent for Febru- ready to unveil its new five year vision
budget as an exemption to enhance the ary and given the headline inflation rate document policy which include tech-
income tax limit to Rs 5 lakh per annum under the 4 per cent inflation target- nology upgradation, research and inno-
and increase in standard deduction to Rs ting norm there is enough room to spur vation, employebility, excellence, quality,
50,000 per annum. credit growth. In this direction, there is a accreditation, international acceptance
On the GST front, the government is strong case for the RBI to soften the in- and funding. In the area of software ex-
likely to move towards easing out the top terest rates by 0.50 percentage points in cellence, PM Modi had chaired a cabinet
two layers of 28 per cent and 18 per cent the coming monetary policy next month. meeting wherein it has passed a National
and include ATF in the GST. With this But there has has to be an assurance that Software Export Policy wherein the pol-
the large number of goods and services the banks will pass off the interest rate icy dictates the hike in software exports
are likley to be subsumed in the 5 per cut and spur credit growth unlike in the from India ten folds by the year 2025
cent and 12 per cent category. The move past. Save the intitial period, inflation is LETTERS@TEHELKA.COM

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