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Moneycontrol » News Center » Business » Economy
Survey calls for more FDI, wants changes in sops, taxes etc
Published on Thu, Jul 02, 2009 at 12:40   |  Updated at Sat, Jul 04, 2009 at 19:22  |  Source : CNBC-TV18
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Here are some of the highlights of the recommendations:

FDI reforms:

- Allow 100% FDI in health, weather insurance

- Raise FDI in insurance to 49% 

- Allow FDI in multi-brand retail

- Raise the FDI limit for defence production companies to 40%

 

On disinvestment:

- Set disinvestment target at Rs 25,000 crore per year

- Start by selling 5-10% of profitable non-navratnas

- List unlisted public sector undertakings

- Auction loss making public service undertakings

- Offload at least 10% equity in PSUs

 

Tax reforms:

- Rationalise Dividend Distribution Tax

- Remove Commodity Transaction Tax, Securities Transaction Tax, and Fringe Benefit Tax

- Phase out tax surcharge, cess, and transaction tax

- Introduce new income tax code


On fertilisers:

- Decontrol sugar and fertiliser industry

- Cut oil, fertiliser, food subsidy leakages
- Convert producer subsidies into direct consumer subsidies

 

On telecom:

- Auction spectrum and make it freely tradeable
- Separate telecom licenses from spectrum allocation

 

Pharma booster:

- Remove price control on all drugs

 

On fuel:

- Limit LPG subsidies to 6-8 cylinders per year

- Oil subsidy only to non-electrified, non-LPG homes

 

Others:

- Link small saving rates to gilt and bank deposits
- Review customs duty exemptions
- Eliminate inverted duty structure
- Convert specific textile duties to ad velorum

 

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