New Delhi: Narendra Modi led NDA government will soon roll out a series of executive measures to make India more investor friendly and give the economy a push.
The recent announcement of foreign direct investment policy liberalisation and power reforms package before Diwali was part of the same plan.
According to a leading daily,the action plan includes single-window clearance system for multi-storey buildings, a monetary policy framework, a new bankruptcy law and subsidy reforms
The report also says that Department of Industrial Policy and Promotion (DIPP) is already working on a key proposal that aims to simplify the overall framework entailing all industrial sectors.
The measures are expected to be announced before the opening of Parliament, when the government will try to convince opposition to approve the constitutional amendment needed to implement the Goods & Services Tax (GST). The government is sticking to its April 1 deadline on GST.
Currently, clearance for multi-storey buildings needs approval by the ministries of civil aviation and environment besides a host of other permits required at multiple points. The Single Window clearance that simplify the whole process is set to be announced this month.
Government may also take LPG subsidy reforms forward by excluding those in the high-income bracket.
Direct benefit transfer for kerosene is expected to be taken up on a pilot basis in five districts of each state.
The government is also working to revive manufacturing sector, considered crucial for job creation. The government has streamlined environment clearances as also other processes, leading to India jumping 12 places on the World Bank's ease of doing business index.
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