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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

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 ...