Government Unveils Infrastructure Boost Plan, Eases Business Laws
The government has outlined a series of measures to boost infrastructure development and ease my business operations. These include disinvestment of key PSUs, tax incentives for InvITs, and streamlining business. The government plans to utilise disinvestment proceeds to build social and physical infrastructure. It aims to accelerate projects under the National Infrastructure Pipeline and Gati Shakti Scheme. To attract private investment, a conducive regulatory framework and transparent bidding process are recommended. To improve the business environment, the government suggests decriminalising business interfacing laws. It also urges the immediate release of outstanding payments and tax refunds to business. The Kelkar Committee's recommendation for PPP projects is advocated to encourage private investors. The government is taking steps to increase investments in infrastructure and healthcare, with a focus on maintaining a fiscal deficit target of 6.8% of the GDP. Despite the high fiscal deficit for the first eight months, it is committed to creating a favourable business environment and attracting private investment.
