Possible ideas to make the business environment more conductive:
1. The Government needs to identify and remove the loopholes in the systems , procedures and policies of each department or ministry leading to corruption and try to eradicate both corruption and the black economy.
2. The archival laws not providing enough clarity are the biggest source of corruption and need urgent change and clarity.
3. The license- raj was dismantled but has been replaced by Babu-raj which now needs to be dismantled in a practical manner.
4. The Govt needs to provide certainty in policies to the investors domestic as well as foreign.
5. The Govt needs to provide tax concessions to start-up businesses in all fields for to encourage new local entrepreneurs.
6. Provide seed capital at subsidized interest rates to new entrepreneurs and widely publicize all available concessions.
7. Implementation of GST needs to be speed-ed up.
Direct tax issues like retro tax and clarity in transfer pricing issues by speeding up advanced pricing etc.
8. All FDI and Fema clearances need to be further simplified. Preferably single window clearance for FI's required.
9. Improve the Infrastructure Roads, Rail, Air and Telecom network especially data highway.
10. Constitute an inter-ministerial group of Finance, Law, commerce, industry and Environment and concerned ministry like telecom or power or I & B to sort out issues relating to each industry. The same should be headed by the PM and meet once in 2 months.
2. The archival laws not providing enough clarity are the biggest source of corruption and need urgent change and clarity.
3. The license- raj was dismantled but has been replaced by Babu-raj which now needs to be dismantled in a practical manner.
4. The Govt needs to provide certainty in policies to the investors domestic as well as foreign.
5. The Govt needs to provide tax concessions to start-up businesses in all fields for to encourage new local entrepreneurs.
6. Provide seed capital at subsidized interest rates to new entrepreneurs and widely publicize all available concessions.
7. Implementation of GST needs to be speed-ed up.
Direct tax issues like retro tax and clarity in transfer pricing issues by speeding up advanced pricing etc.
8. All FDI and Fema clearances need to be further simplified. Preferably single window clearance for FI's required.
9. Improve the Infrastructure Roads, Rail, Air and Telecom network especially data highway.
10. Constitute an inter-ministerial group of Finance, Law, commerce, industry and Environment and concerned ministry like telecom or power or I & B to sort out issues relating to each industry. The same should be headed by the PM and meet once in 2 months.
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we need to explore opportunities in developing africa as government not doing enough even though most of the industries are controlled by indian community in africa
May 27
Regarding s no 1 above,rather then government identifying & removing the loopholes, we can form many groups,each to find loopholes in different matters & advise the government about our findings.That will save much precious time.
May 27
