10 tasks for the next govt to put India back on fast track

Days ahead of the next general elections, Finance Minister P Chidambaram has come out with a list of 10 tasks the govt of the day should follow to put India back on the fast track.

Check Fiscal Deficit

Target fiscal deficit at 3% of GDP.

Welcome Foreign Investment

India needs foreign capital as current account deficit to persist.

Push Financial Sector Reforms

Implement Financial Sector Legislative Reforms Commission recommendations that need no legislative changes immediately, set timetable for rest.

Balance Inflation, Growth

While targeting prices, RBI should keep growth concerns in mind.

Beef Up Infrastructure

Add & rebuild infrastructure. Adopt all proven models, rely more on PPP mode. Create new financing models for long term lending.

Revive Manufacturing

Special focus export manufacturing. Waive taxes or give concessions on products for exports. Ensure tariff protection as incentive to encourage domestic manufacturing.

Boost Skill Development

Skill development must rank alongside secondary and varsity education, total sanitation and universal health care.

Target Subsidies

Give them only to the absolutely deserving.

Focus On Urbanisation

Address decay in cities. Tap city wealth to raise resources.

States Should Share Responsibility

States must bear a reasonable proportion of funding of flagship programmes; this will give Centre leeway to allocate more resources for railways, highways & telecom.