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Focus on agriculture, infra and affordable housing commendable: M.P. Taparia

Government stays focused on fiscal deficit target for the year 2016/17 to 3.5 per cent. This is a prudent move. Containing the fiscal deficit will facilitate lowering of interest cost going forward.

M.P. Taparia        Last Updated: March 1, 2016  | 11:31 IST
M.P. Taparia, Managing Director, The Supreme Industries Limited

1. Government stays focused on fiscal deficit target for the year 2016/17 to 3.5 per cent. This is a prudent move. Containing the fiscal deficit will facilitate lowering of interest cost going forward. That will boost housing and manufacturing activities in the country.

2. Several actions have been initiated to boost agriculture and irrigation.

a) Interest subvention in agricultural loan
b) Crop insurance
c) Increasing out lay on irrigation and concerted drive to complete unfinished irrigation projects
d) Increasing the quantum of providing Agricultural credit.
e) Government aims to double income of the farmers. This will boost economic activity in the country.

3. Stepping up investment outlay on road construction, railways along with other investments in infrastructure will create millions of jobs. Robust infrastructure is foundation to boost business. This increased outlay will move in the direction of boosting infrastructure.

4. 100 per cent FDI in food processing where the raw material is locally produced. This will go a long way in reducing wastage in agricultural/horticultural products and also boost farm income.

5. Specific measures to boost construction of affordable housing will create millions of jobs in the country. Housing is a key activity, which creates business for hundreds of industries making products for housing.

6. To provide amnesty under direct and indirect taxes will pave the way to substantial reduction in the grey market in the country which is the bane of country's economy. This will also facilitate spurring investments in desirable direction.

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