After the Lok Sabha election result, once again the Bhartiya Janata Party (BJP) has become the government, and in its regard BJP will work over 100 days above all the below mentioned economic measures.
100 DAY AGENDA READY : MODI 2.0
After the election results are announced, the Modi government will work on multiple economic measures within the first 100 days of its second term, beyond elections.
To speed up the slow speed of the economy, the government will work starting from the ground level difficulties like agriculture. The work of the new government will commence from May 30 and simultaneously the financial and other ministers have prepared their agenda for 100 days to strengthen the economy.
The measures promised by the Government of India (Mr. Narendra Modi) are discussed follow:-
1. TAX EXEMPTION MEASURES.
Modi Government, during his one of the speeches has promised to make India an economy worth 350 lakh crores by 2025. In the same election manifesto, Modi government has repeated the promise of doubling the income of the agricultural sector by 2022, along with the pace of India’s ongoing economy Modi Government has given priority in fulfilling the task of preparing its 100-day agenda for bringing this government. The budget brought up in this election scenario, may include a reduction of income tax, which will work to strengthen the consumers. At the same time, the reduction in demand from 25 basis points cut by the RBI will also be corrected and modified.
The GST structure will be further simplified to see an increase in employment generation. The GST slab will also be modified and divided into two main parts, which was currently in four parts till now.
2. THE PROCESS OF GST WILL BE SIMPLIFIED.
BJP has clearly mentioned in their manifesto to simplify the process of GST and according to experts, the time period on compliance will be reduced by one hour per month. This will make a huge difference in the tax matters. Will probably reduce the tax rate and also see higher tax collections.
3. CAPITAL TO BE GIVEN TO THE BANK.
Due to the new rules and regulations received from the Modi government, the RBI capitalization for Jalan Committee will be easy to get by the Finance Minister at one time. Brake Rage expects funds from RBI Capital to PSU banks will be provided. The reports for the same are pending till June.
4. EXPECT BUSINESS POLICY SUPPORT TO BOOST BUSINESS.
For the Modi government, once again, the business is going to be promoted, UBS is looking forward to business policy sports, which includes fiscal incentives, which will be in conformity with the WTO department. According to the Commerce and Industry Minister Suresh Prabhu, the government will work on a new industrial policy which would be helpful in connecting the country with global supply chain. That is, the reach of the country will be quite long.
So, these are some reforms that will be surely looked upon within the first 100 days of the second term of Modi Government.
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