IBC-type framework for NBFCs, simplified GST among several issues raised with Finance Minister

5 min read
  1. Finance Minister has held pre-budget discussions with the economists.
  2. The economists stressed on the need to (a)promote labour intensive sectors and (b)manufacturing through Make in India.
  3. Further,they also suggested simplification of GST,Insolvency and Bankruptcy Code(IBC)-type framework for NBFC,implementation of Direct Tax Code and constitution of independent fiscal policy committee.
  4. Economists also gave suggestions on tariff reforms, removing bottlenecks in supply-chain, EXIM policy for agriculture, removal of specific duties on textiles,revival of inter-state councils for holistic domestic growth and boosting employment by focusing on skilling.
  5. Earlier,Finance Minister also held a meeting with representatives of social sector wherein they suggested that the government should focus on education, hygiene, women safety and nutrition of infants in the forthcoming Budget.
  6. They also suggested expansion of healthcare infrastructure, provision of free drugs and diagnostic facilities, rationalisation of taxes on medical devices, promotion of public private partnership in secondary and tertiary healthcare sectors, fiscal incentives for recycling of waste water and rainwater harvesting among others.

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