Financial Daily from THE HINDU group of publications
Thursday, Dec 02, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 02, 2004 |
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Opinion
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Letters Developing infrastructure
This is with reference to the editorial "Not a core solution" (Business Line, December 1), which points out that the proposal initiated by the Planning Commission Deputy Chairman, Dr Montek Singh Ahluwalia, on the use of forex reserves for investing in infrastructure projects is neither advisable nor feasible. It is well known that lack of infrastructure facilities is the main obstacle to the country's progress. Private investment, FDI and the like are not generating enough funds. And disinvestment is not bringing returns owing to a clash of opinions on the subject. The Finance Minister should introduce a low tax regime that plugs loopholes and renders tax evasion non-profitable; widens the tax net and gives incentives to domestic saving. When we are moving towards integration with the global economy, our policies need to be adjusted accordingly for us to be competitive and keep pace with the growth rate of emerging Asian economies. A. Jacob Sahayam Thiruvananthapuram
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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