Fiscal reforms during the Vajpayee era

In part 2 of the series, the author speaks of the steps taken by the Vajpayee government towards simplification of a very complex excise tax structure

money, tax, financial planning, savings

Tried and Tested: The excise tax reform begun after 1991 was taken forward through the establishment of CENVAT by the Vajpayee government

Rakesh Mohan
The establishment of the Tariff Authority for Major Ports, which set the stage for private investment in major ports, was another infrastructure initiative of the Vajpayee government. The tariffs levied by the port authorities had earlier been decided on by the central ministry of ports and shipping, and all investment in major ports was in the public sector. This initiative shifted the responsibility for setting tariffs to an independent authority, which was essential to attract private investment in major ports. Private investment has flourished since then. I was privileged to be a part-time member of the new authority. The 2001 Budget speech announced the corporatisation of major ports, but this reform remains to be implemented by successor governments, and the
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

First Published: Sep 10 2018 | 9:53 PM IST

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