DON’T RAISE TAX LIMIT, SAYS SURVEY

New Delhi, Feb. 26: The Economic Survey said the government should refrain from raising exemption limits on income tax to facilitate natural growth of individual earnings and widen the taxpayers base, even as it suggested increasing property tax.

It also called for a review and phasing out of the tax exemption raj that benefited the richer private sector.

JOBS

India needs to create a large number of formal sector jobs and deal with regulatory issues that force firms to opt

for contract workers.

TECH

India’s $143 billion ITBPM sector is being impacted by protectionism even as India

is being urged to open up its markets under trade agreements

FREE TRADE

India’s free trade agreements with Southeast Asian

countries and others have so far have pushed up imports more than the coun

try’s exports.

BANKS

In order to strengthen public sector banks (PSBs), government could sell off some public sector firms and use the proceeds to make additional investments in state-owned lenders.

GST

Expressing disappointment over delay in the passage of GST Bill, the Survey said the roll out of GST will usher in an “unprecedented reform” in modern global tax history.

MARKETS

Indian stocks are relatively resilient despite volatility in the worldwide financial markets and the country can become a leading investment destination going ahead.

GAS

There should be market-determined arm’s length pricing to domestically produced natural gas to incentivise investment.