Reforms with a human face : PHD Chamber

PHD Chamber feels that the winning of the trust vote presents a unique opportunity to the government to hasten the reforms agenda and introduce policy provisions which are transparent and investor friendly.

The Chamber is in favour of adopting a seven pronged strategy of reform which includes removing investment caps in retail and insurance, effecting flexibility in labour laws and moving forward on disinvestment.  Much more can also be done on reforms in the financial sector, including banking.  Besides, our taxation system should be further rationalized.  Levies such as fringe benefit tax should be withdrawn.  At the same time, our infrastructure deficit needs to be curtailed and power sector reforms be given a priority, said Mr. Krishan Kalra, Secretary General, PHD Chamber.

Mr. Kalra said that above all, we are in favour of pursuing reforms with a human face with focus on employment generation.  And in this endeavour, we believe that reform in agriculture would not only rejuvenate the rural economy but create opportunities for our youth in the non-agriculture sector as well.

Indeed, the recent macro economic challenges provide us with a unique opportunity to unlock the fetters of control.  After all, the economy is fundamentally strong and the ‘feel good’ factor would return once the present government shows willingness to pursue a strong economic agenda of reforms, Mr. Kalra added.