‘CII for focus on economic revival, opening up job market’

An urgent need is to revive private sector investment. Bringing stalled projects on-stream by addressing delays in environmental and administrative clearances could unlock funds already in the pipeline. There should be an institution which is empowered to address issues which come in the way of obtaining state-level project permissions. The upcoming budget would provide the government an opportunity to announce some incentives.

The new government must also proceed on introducing the Goods and Services Tax. It would also be important for the it to keep fiscal consolidation on track. Fuel and fertiliser subsidies in particular should be capped and the practice of rolling over subsidy payments done away with.

— The author is director general, Confederation of Indian Industry