Communist Party of India (Marxist) manifesto: Key points related to economy 1. Scrapping the Fiscal Responsibility and Budget Management Act. Set a minimum floor for social sector spending as a binding constraint in fiscal exercise for both Centre and State governments 2. Halt any further dilution of government equity in public sector banks and strengthen the public sector in banking and insurance with strict adherence to priority sector lending norms 3. Tax speculative capital gains tax by restoring long-term capital gains tax and increasing securities transaction tax 4. Increase wealth tax for super-rich and introduce inheritance tax 5. Plug the Mauritius route by reviewing Double Tax Avoidance Agreement with Mauritius and other countries 6. GST to be implemented only after ensuring a higher rate for the states so as to at least partially correct the present fiscal imbalance 7. Reversing moves towards Full Capital Account Convertibility 8. Immediately halting the process of issuing fresh licenses for banks in the private sector 9. No privatization of pension funds; no diversion of pension and provident funds to stock market 10. Reviewing of privatization of infrastructure through the Public Private Partnership (PPP) route. No further PPPs in domestic airports already modernized by Airports Authority of India. No FDI in railways Disclaimer: These are some of the important economy-related promises in CPI (M) manifesto. My view/opinion on each of these will be posted on a separate blog.
Posted on: Mon, 31 Mar 2014 18:36:16 +0000
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