Contain inflation by focusing both on monetary and fiscal policies and supply side management.
Pace of infrastructure creation has to be stepped up with renewed focus on the power sector.
Continue efforts to contain current account deficit at 2-2.5 per cent of GDP and in parallel encourage flow of external investments into the country.
Greater attention to agriculture including on seed development, management of water and soil fertility and improving delivery system
Urgency in the implementation of goods and services tax (GST).
Budgeted level of fiscal deficit and revenue deficit still beyond comfort zone.
Economic Survey 2010-11
Better convergence of schemes to avoid duplication and leakage.
Private sector participation in social sectors.
Huge capacity addition in infrastructure in a time bound manner.
Urgent need to streamline land acquisition and environmental clearances for infrastructure projects.
Bringing parity between the compensation package admissible under the Land Acquisition Act, 1984, and that applicable to land acquisition under the National Highways Act, 1956.
Investment in building managerial and technical capabilities of executing agencies at par with the private sector.
Second Green Revolution with technological break-through in agricultural sector.
Prioritisation of targeted development of rainfed area and effective marketing links be ensured for better returns to the farmers.
Further improvements in the Mahatma Gandhi National Rural Employment Guarantee scheme.
Efficient taxation of goods and services by a new GST.
Need to explore avenues for increasing investment in infrastructure.
Need for deepening of the corporate bond market.
FDI in retail.
Inflation continues to be a cause for concern. Global economy on the upturn, to support growth momentum.
Trade deficit set to narrow.
Focus on Aam aadmi and higher funds for flagship programmes, implementation key to realizing the desired outcomes
Industry Chambers Confederation of Indian Industry (CII)
Encourage private sector participation through various tax measures, including 150% tax exemption on expense incurred on new technology and inputs.
Do away with the levy of MAT on infrastructure companies as it has diluted the incentives provided under section 80-IA to the sector.
Reintroduce of Section 10 (23G) of the Income Tax Act, which provided tax exemption of interest and Long Term Capital Gains in the hands of infrastructure capital companies.
Increase deprecation rates on plant & machinery from 15 percent to 25 percent and extending R&D incentives available u/s 35 (2AB) to all sectors.
FDI in multi-brand retail should be opened up, higher FDI should be allowed in the defense sector.
Early passage of Insurance Bill to raise the FDI limit from 26% to 49%.
Develop a deep and liquid corporate bond market.
Continue with the existing peak rate of customs duty (10%). Status quo on the general rate of 10% excise duty and 10% services tax, since these are at par with the proposed Central GST rate of 10%.
Reduce CST from 2% to NIL, since no credit is available on this tax.
Reduction in the corporate tax rate from 30% to 25% together with abolition of surcharge and cess.
Federation of Indian Chambers of Commerce and Industry (Ficci)
No rollback of stimulus.
Abolish surcharge and education cess.
Reduce Corporate tax rate to some extent.
Remove cascading impact of Dividend Distribution Tax.
Rationalize the MAT as a specified percentage - 50 per cent - of basic corporate tax rate.
Extend the period of profit-linked incentives provided for infrastructure and crucial sectors (including for developing industrial parks and for power generation), for some more time.
Make the investment-linked incentive really meaningful, by allowing the losses of specified business of the assessee to be set-off / carry-forward from his other profit-making businesses, instead of restricting it to only from his specified businesses.
Restore withholding tax exemption on interest payable on foreign commercial borrowings, as also the tax exemption of interest income of an infrastructure capital fund / an infrastructure capital company.
Peak customs duty rate of 10% needs to be retained for sometime more.
CST rate be reduced from 2% to 1% with effect from 1st April, 2011.
Extend tax holiday benefit for EoUs and undertakings involved in FTZs for another 2-3 years.
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