Our economic roadmap will restore India to 8% growth rate and create 10 crore new jobs.
What We Have Done
Since UPA came to power, Per Capita Income has increased three-fold. Average GDP growth rate during our tenure has been a phenomenal 7.7 per cent, despite the global economic crises pulling us down. Today, we are one of the fastest growing economies of the world.
What We Plan To Do
The Congress will introduce basic rights and welfare package for all working people. Our priority will be to bring India back to 8% inclusive growth path. There will be zero aversion to foreign investment. We will bring "Direct tax Code" and "Goods and Services Tax" Bills, which will increase aggregate revenue. Our detailed "Jobs Agenda" will ensure 10 crore new jobs.
- Innovative Deficit FinancingFinance India’s Current Account Deficit through foreign investments – FDI, FII, ECB or any other kind of foreign inflow.
- Bringing Down the DebtBring down fiscal deficit to 3% of GDP by 2016-17.
- New Tax BillsIntroduce and enact the Goods and Services Tax Bill’s and a new Direct Tax Code Bill within 1 year.
- Incentives for BusinessIncentivise domestic manufacturing and exports by providing minimum tariff protection and speed up the Industrial Corridor projects. Provide rebate or waive off all taxes on Central and State exports.
- Urban Growth ClustersCreate 100 new urban clusters around existing small and emerging cities.
- Restarting Stalled InvestmentsBuild on the success of the Cabinet Committee on Investment and the Project Monitoring Group in clearing stalled investment proposals and set up a National Investment Facilitation Authority headed by the Prime Minister.
- Regulatory ReformsTo improve the business environment in India, we will set up a Regulatory Reform Task Force that will review all regulatory processes of central government ministries
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