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Wednesday, July 18, 2018

BJP to give priority to growth, but says no to FDI in retail

The manifesto also promised that the government will initiate building 100 new cities enabled with the latest in technology and infrastructure.

New Delhi | Updated: April 7, 2014 1:22:45 pm

Giving high priority to revival of growth and job creation, BJP on Monday promised to contain inflation, pursue tax reforms and promote foreign investments but said no to FDI in multi-brand retail.

Released here by top BJP leadership, the party’s election manifesto accused the Congress-led UPA government of unleashing ‘tax terrorism and uncertainty’ and engendering 10 years of jobless growth.

The BJP promised to set up a Price Stabilisation Fund to check inflation, ensure fiscal discipline and pursue banking sector reforms to deal with the problem of rising bad loans.

“The country has been dragged through 10 years of jobless growth by the Congress-led UPA Government. Under the broader economic revival, BJP will accord high priority to job creation and opportunities for entrepreneurship,” it said while unveiling the road map for the future.

With regard to the agriculture sector, the manifesto promises to create a single ‘National Agriculture Market’ and increase public investment in the farm sector.

Referring to taxation, it said, “the UPA government Government has unleashed ‘Tax terrorism’ and ‘uncertainty’, which not only creates anxiety amongst the business class and negatively impacts the investment climate, but also dents the image of the country.”

Promising tax reforms, BJP said its tax policy roadmap include focus on a non-adversarial and conducive tax environment, overhaul of the dispute resolution mechanisms, bringing on board all state governments in adopting GST (Goods and Services Tax) and provision for tax incentives to promote investment.

The manifesto said a BJP led government at the centre will unbundle FCI (Food Corporation of India) operations into procurement, storage and distribution segments for greater efficiency.

It also promised to promote and support area specific crops and vegetables linked to food habits of the people.

On promotion of industry, BJP said: “We should no longer remain a market for the global industry. Rather, we should become a Global Manufacturing Hub”.

It said India will have to encourage the domestic industry to innovate and collaborate internationally.

Talking about “economic freedom”, the manifesto said Government will not get in the way of the freedom of individuals to start and operate legitimate businesses.

“Increased economic freedom will break open the economic space to new entrants, especially in the form of small and medium-enterprises, creating jobs and prosperity,” it said while stressing on cutting red tape and simplifying procedures to do business.

Referring to the manufacturing sector, BJP said it will take “all steps” like faster approvals, investment in logistics infrastructure, ensuring power supply and undertaking labour reforms, besides other steps to create a conducive environment for investors.

The manifesto also promised that the government will initiate building 100 new cities enabled with the latest in technology and infrastructure – adhering to concepts like sustainability, walk to work, and focus on specialised domains.

On skill development, BJP said a ‘National Multi-skill Mission’ will be launched and vocational training on a massive scale will be promoted.

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