The Hindu Business Line : Facilitate public-private tie-ups for infrastructure development

Post offices must be encouraged to open demat accounts for small savers and senior citizens, with the same KYC norms as for PO savings accounts (the access that post offices provide to millions of small savers can thus be expanded to cover corporate bonds)

Instead of providing tax concessions to developers of infrastructure projects, projects (through rated Special Purpose Vehicles ) that meet defined criteria must be granted the ability to issue tax-free bonds which could be either deep discount or annuity bonds. (This will attract hundreds of crores of investment into infrastructure, and provide a self-funded social security net)

On the taxation front, the direct tax code must be simplified to ensure that the implementation of the Goods and Services Tax (GST) regime from April 2010 is adhered to. A nationwide GST will help in removing internal barriers to trade, help in improving the fiscal health of both the Centre and States, and most importantly, by reducing the multiplicity of taxes, bring down prices of goods and services. The Budget should clarify some of the issues around the GST implementation, particularly, the dual rate structure being proposed.

Environment: Many debates on environmental issues get bogged down in controversies between the cost of green and the cost of development. As a nation, we now face crucial choices that will determine the path we take towards ensuring water, food and energy security and in the process, our carbon footprint and potential impact on climate.

The Ministers of Environment, Power, Urban Development and Railways should evolve a comprehensive strategy and agenda to address the steps we can take towards a clean, green, and more energy efficient future.

Specific incentives for investment can be considered in:

• Public transport infrastructure and low carbon transport technologies (e.g. hybrid and electric vehicles)

• Renewable generating capacity (e.g. wind, bio mass, hydro and solar)

• Manufacture of critical low carbon technologies (e.g. solar photovoltaic, wind turbines, energy efficient domestic appliances, LEDs)

Meera H Sanyal, Country Executive

ABN AMRO Bank India