Industry lobby Ficci hosted a ‘special panel of secretaries’ at its 89th annual general meeting (AGM) on Friday (16 December) . This session talked about the overall reform initiatives of different ministries which was in line with the overall theme of the AGM this year, ‘Reforms for Sustaining High Growth’.
The government has been working assiduously to ensure continuous improvement in country’s economic as well as social conditions. There has been a noticeable change in India’s macro-economic situation over the past two and half year and the reform oriented approach of the government has been truly laudable.
On demonetisation Ashok Lavasa, Finance Secretary & Secretary (Expenditure) Ministry of Finance, said that assessment on growth and revision of withdrawal limits for cash would be made post December 30, 2016. However, he does not see a drastic fall in GDP growth estimates given earlier. He stressed on the need for a calm assessment on demonetisation and assured of steps to bring the system back to normal.
Lavasa said that as far as reaching a consensus on dual control of GST was concerned, it was important to draft the arrangement in a way which was fair to the assesse. He was optimistic about rolling out the GST by April 1, 2017. Commenting on the future challenges, he highlighted the importance of social and financial inclusion and also the urgent need to boost public and private investment in the country.
Sanjay Mitra, Secretary, Ministry of Road Transport and Highways, said the infrastructure sector has been a clear priority for the Government and that efforts are being made to roll out the stalled projects. Also, the new hybrid annuity model for PPP contracts is being looked at and the PPP renegotiation framework is being worked upon.
Mitra added that he looked forward to a greater role of private investors in the road and transport sector. He was also hopeful about opening up of the India-Bhutan transport network which is expected to push growth in trade from eastern India. On tighter emission standards, he said that the vehicle scrapping policy is being worked upon.
Vinay Sheel Oberoi, Secretary, Department of Higher Education, Ministry of Human Resource Development, said that India was moving towards higher gross enrolment ratio and there are areas where direction has been set to open large scale online courses. Also, serious focus is needed on research. On the role of private sector, he said we see them as partners and that the Ministry of Skill Development has been working towards bringing the private sector in to the skilling activity. He added that industry experts could come in as adjunct faculty and share their expertise.
On the recent reforms undertaken by the DIPP, Ramesh Abhishek, Secretary, Department of Industrial Policy & Promotion, Ministry of Commerce & Industry highlighted the recent ease of doing business rankings at the state level being initiated and the new parameters which are being taken into account for improving the business environment across the states. The priority areas for him included the need for reducing the number of days for starting new business, giving PAN, TAN on the same day, developing e-Biz Portal and giving online construction permits.
He highlighted that the record FDI inflows this year and the rising interest observed amongst foreign investors in our domestic market. On Make in India, he spoke about the recent initiatives undertaken including, preparing specific sectoral reports and increasing emphasis for the SME sector. He added that the future challenges will include, further liberalizing the FDI policy, improvising on Start Ups & Ecommerce policies.
C K Mishra, Secretary Department of Health & Family Welfare, Ministry of Health & Family Welfare, highlighted the need for increasing the health budget from the total budgetary allocations and for creating a robust platform for ensuring healthcare financing in the country. He said that unlike the infrastructure sector, the health sector was quite complex and the returns on this sector is minimal. He mentioned that more private sector investment was needed in healthcare services. The private sector should invest more at the primary and secondary health care services instead of the tertiary level and called for more collaborative efforts in health sector financing. He also stressed on the need for creating a framework where both private and public sectors can converge.
BW Reporters
Naina Sood is a Economics graduate and has done her post graduation in International economics and Trade. She has deep interests in Indian economy and reforms
