Economic Survey: Highlights

	Economic Survey 2009
	Highlights

Decontrol petrol and diesel prices
End govt monopoly in railways, coal and nuclear energy
Tax system still complex
High liquidity in the system
Stimulus must be sector specific
Review custom duty exemptions
Tax dividend in the hands of receiver
Move to zero fiscal deficit
Monsoon, performance, global economy crucial factors
High liquidity could lead to inflation spiral
Survey for removal of transaction taxes like STT, FBT
Allow private operators to run train services to tourist destinations; List at least 49 percent of port trusts
Convert government departments providing commercial services into corporations
Telecoms licences should not automatically entitle holder for radio spectrum grants.
Spectrum should be auctioned and should be tradeable.
Allow open access to local telecoms infrastructure to provide broadband Internet services and for telecoms services to rural areas.
Waive charges on telecoms providers if they provide broadband services in villages.
Convert government departments providing commercial services into corporations
Tax cuts needed
Survey for removal of cesses and surcharges
Just 6-8 subsidised LPG cylinder per home/year
Move to zero fiscal deficit
Reduce oil, fertiliser, food subsidies
Fertiliser subsidy directly to farmers
Allow FDI in retail starting from food
7-7.5% growth possible in 2009-10
Worst over for economy
Sees early economic revival
Allow 49% FDI in defence and insurance
Limit subsidy on LPG cylinders
Raise foreign equity limit
Review and phase out surcharge cum cess
Need to revitalise disinvestments programme
Rs 25,000 cr would be generated through disinvestment
Important to roll back liquidity once growth improves
FBT to be phased out
Govt should implement GST from April 2010