Given India’s slowing growth rate, I would like to suggest two simple steps for immediate economic revival: (i) allow foreign direct investment (FDI) in multi-brand retail and leave it to the states to adopt the policy. Those who wish to enable economic growth will agree to it anyway and this will spur investor confidence as well as improve the investment climate and; (ii) increase excise duties on diesel cars and sport utility vehicles. This will reduce the fiscal deficit on account of diesel subsidies. The common man is well aware that these measures can help revive the economy and it is time the finance minister implements these.
Aditya Gaiha Mumbai
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