Key moves in implementing budget plans to be taken by 10th of August
The present government in their first budget may not have had made a big splash as that had been expected but the administration plans that move at the fast speed is ensuring that its proposals are actually being implemented over the next few weeks and that the prime minister is able to celebrate this in the address that he is going to make in August 15th, Independence day.
The Cabinet Secretary Ajit Seth has ordered all the ministries and departments to get cracking so as to be sure that the main decisions are taken before the August 10th in time before the speech. This will be Narendra Modi’s first important speech to the country after he has sworn as the Prime Minister on May 26th. The government hopes to reflect a long list of achievements.
The Prime Minister’s Office is going to directly monitor implementation of the budget announcements apart from pushing forward the decisions on some other policy issues. A start has been made from the foreign investment limit in the insurance sector with the defence and railways being expected to follow the same. The Department of Industrial Policy and Promotion (DIPP) has already started circulating the proposal on the foreign direct investment (FDI) in railways and the detailed notes that have been issued on the decisions already stated higher limit for the defence and changes in the rules for the real estate chapter.
Source: The Economic Times
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