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Big change in approach to policy in politics: FM
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SME Times News Bureau | 18 Mar, 2016
Describing the pan-India Goods and Services Tax Bill among the last major pieces of reform legislation that remain to be enacted, Finance Minister Arun Jaitley said on Thursday that Indian politics has undergone "significant change" in dealing with policy changes.
"There has been a significant change in approach towards policy as far as Indian politics is concerned," Jaitley said in reply to questions at the annual India Today Conclave here, citing examples.
"The discussions on the Aadhaar Bill, which I mentioned in the 2016-17 budget, went on for seven-eight long years. But now, we've implemented it within two weeks," he said.
The minister also mentioned the reforms in the petroleum sector approved by the union cabinet last week, which he proposed in the budget for the coming fiscal.
Last week, the government approved a new oil and gas exploration policy and defined the pricing norms for existing and new discoveries made in difficult areas.
The new exploration policy will now be based on a revenue-sharing model, as opposed to cost-and-output-based norms earlier. The new pricing policy for difficult to exploit deep-water and ultra deep-water gas discoveries allows free pricing, subject to a ceiling based on prices of alternate fuels.
"Regarding the policy reforms, it is the best India can do in the circumstances," Jaitley said.
"In a complex democracy like India, you have to steer through politics, but the direction of reforms has to be maintained," he added.
In this connection, the finance minister mentioned the moves to free road transport in the states from the permit system that had resulted in inadequate public transport services.
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Financialy policy change
Srivathsan,Mysore | Wed Mar 23 05:10:09 2016
I have been posting many letters on the introduction of NON cash transactions or DEMAT E cash in that All funds coming out of Govt shall be in DEMAT E cash form ( uni mode) and this will be in digital mode for subsequent use by other individual or firm and this will continue for 12 months as a trial basis. There will be trading platform by Dual mode funds( cash and digital) with Uni mode transacting people at a premium or discount as the case may be. This is a new concept and if this is done there will not non transaction. This case be discussed with Sri. Nandan Nilekahni and he will be able provide all necessary inputs.
Financial reforms
Srivathsan Mysore | Wed Mar 23 05:01:44 2016
In this regard I appeal to FM that a stron push is required to go in for digital financial transaction in plac e of cash transaction in petroleum sector, telecom sector, power sector, education sector, fertilizer sector, pesticide sector and all retails shop and establishment firms having TIN number in all cities up to tier two cities.This was to be taken on time based programmer and in 12 months all the shops /retailers must be covered. There will be cash back offer for the buyer and seller simultaneously. This will improve revenue and also increase Account holders and PAN holders.
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