NDA may not reverse FDI in multi-brand: Arvind Panagariya
Arvind Panagariya, a famous economist and professor at Columbia University standing as a forerunner for the key advisor post of the new BJP led government, has recently stated the present priorities of different policies.
On being asked about what should be the priority areas for the present government if they want to bring the economy back on track, he answered that the paralysis in decision making should come to a close, policy uncertainty should also be ended and the present land acquisition act should be replaced.
On answering further questions, he answered that the Modi government should definitely put in more effort in working towards the welfare programmes such as MNGERA. The fiscal deficit for the Central Government should be lower than 4.5% GDP. Subsidies should be reduced on petrol, diesel, cooking gas and kerosene. The capital expenditure should also see some significant raises.
Mister Arvind Panagariya has also mentioned that coal supply should be adequate and the new government should take steps to ensure that. If private players are allowed to carry out their task of coal mining, then this can be accomplished very easily.
According to him, the NDA should also pursue privatization of state run companies although this does not require too much of importance. They must come back to this in the longer run. There is a lot of work that needs to be done and one of them is the manufacturing of products.
{Source: Surojit Gupta}
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