Metro Plus
Faridabad, 16 January (Naveen Gupta): To promote investment which is primarily to be come in states, states got to make doing business easy – said Sh. Amitabh Kant, COO Niti Aayog at a Make in India lecture organised by Citizen Centre for Governance at IIC New Delhi on 13th January 2017.
If India has to grow and outshine other economies there has to be competitive federalism amongst the states with respect to EDB, Health, Education and Nutrition. The Nation needs to be digitised with integration of services, processes and systems and departments have to come out of silos. For manufacturing world class we need to be a part of Global Supply Chain. In India in 2016 there has been 60% growth in FDIs as compared to drop by 16% worldwide. This puts pressure on Technology. MSMEs generate 84% employment whereas in China 79% output comes from large companies.
We have to be ready to face challenges of urbanisation where every minute 30 Indians move from rural to urban because it is cities that create jobs, innovation, 80% of GDP, 90% Employment and at the same time 72% CO2 emissions.
On being asked, Mr. Amitabh Kant stated that huge sets of outdated Labour Laws are one of key hindrance to Make in India. The Law of the land has to be predictable and Tax Policies consistent. We cannot have retrospective tax structure. Old laws of 18th century need to go.
Our education system needs to be practical if we want to take advantage of young India who is Energetic. As such, Nutrition and Health should be the focus areas.
The burden of social security schemes on Entrepreneurs to the tune 40/45 % is huge and needs to be reduced. ESI and EPFO are most inefficient service providers since these agencies do not face any competition.
Mr. J.P. Malhotra, President DLF Industries Association opined that employers’ contribution to the tune of 40/42 % at present needs to be halved if Govt. wants to have Transparent and Digital work force and payment system in the Industry. The rate of personal Taxation be clamped at 20% and corporate 25% all Cess/Tax included. Representative suggestions have since been forwarded to Hon’ble Finance Minister for a possible inclusion in the forthcoming Budget by Apex Chambers.
Present amongst were S/Sh. Dr. H.P. Kumar, Former CMD NSIC, P. Uday Kumar, Director NSIC, J.P. Malhotra, President DLF Industries Association, Kumar Rohit, RPFC Faridabad, Rajive Chawla, IamSME of India and many others. The session was chaired by Sh. Prabhat Kumar, IAS (Retd.), former Cabinet Secretary.