The current government has taken a few measures in the past couple of years focused towards creating enabling business environment. However, in order to improve the GDP and build a healthy economy, quick action is required from the Finance ministry by supporting easy tax structure, stable government policies, infrastructure facilities, skilled workforce, Research & Development investment, supply-chain upgradation and setting up of innovation facilities. Rationalising GST, reducing DDT, optimising CSR scope to Include all SDG’s and focused policy initiatives (skill development, credit availability and employment opportunity) across key sector will help getting growth momentum and help India realize dream of USD 5 trillion economy as well as ensuring India is at the centre of Industry 4.0.
There is a need to address the issue of inverted tax structure which is impacting the domestic industry adversely since the manufacturers pay higher price for raw material and are unable to get the same benefit when it comes to finished goods.
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