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BJP promises growth & investment, but says no to FDI in retail

PTI | Last Updated: Monday, April 7, 2014 - 19:50

New Delhi: Describing the UPA's 10-year rule as "decade of decay", BJP on Monday promised to restore investor confidence by promoting growth, checking inflation, pushing tax reforms and encouraging foreign investments, but said no to FDI in multibrand retail.

The BJP manifesto, released in the presence of its top leaders, also proposes greater push to infrastructure, high speed trains, 100 modern cities and thrust on job creation along with skills development.

"Decade under the UPA - I and II can rightly be summed in one line, the 'Decade of Decay', in which India had a free fall on all fronts - be it governance, economy, diplomacy, foreign policy, border safety, etc," it said.

The absence of statecraft, it said, has never been felt so acutely as today.

"The collapse of the Indian economy has contributed to the sorry state of foreign affairs in no small measure," the 42-page manifesto said.

Accusing the Congress-led UPA government of dragging the country through 10 years of jobless growth, BJP said it will accord high priority to job creation and opportunities for entrepreneurship".

BJP further vowed to fight UPA's "tax terrorism" and promised a "non-adversarial and conducive tax environment" by rationalising and simplifying the tax structure.

The party said it will work with all state governments to introduce Goods and Services Tax (GST), which will subsume most of the indirect taxes.

"We will bring back credibility and trust in government, re-sowing confidence in the India story domestically as well as internationally. Through consistent, long-term policies, we will not just spur the process of economic growth, but also ensure that it is stable as well as balanced," it added.

With regard to the agriculture sector, it promises to create a single 'National Agriculture Market' and increase public investment in the farm sector.

While BJP has promised to introduce GST, the manifesto is silent on the Direct Taxes Code (DTC), which proposes to replace the Income-tax Act of 1961.

On infrastructure growth, being repeatedly emphasised by BJP Prime Ministerial candidate Narendra Modi, the party said that if voted to power it will introduce high-speed bullet trains, build 100 new modern cities and expedite freight and industrial corridors, creating employment.

The manifesto said the BJP government will launch diamond quadrilateral project of high-speed train network (bullet train).

It will also look at urbanisation as an opportunity rather than a threat and steps will be undertaken in transport and housing for 'Urban Upliftment' in India.

To enhance Internet penetration, the party said, Wi-Fi facilities will be made available in public places and commercial centres.

The manifesto also emphasised upon the need to build infrastructure in a futuristic way.

On creating next generation infrastructure, BJP said: "We will set up Gas Grids to make gas available to households and industry and set up a National Optical-Fibre Network up to the village level."

It also promised to launch an Integrated Public transport project and develop national logistics network for faster movement of goods.

On skills development, BJP said that a 'National Multi- skill Mission' will be launched and vocational training will be promoted on a massive scale.

Referring to the manufacturing sector, BJP said it will take "all steps" like faster approvals, investment in logistics infrastructure, ensuring power supply and undertaking labour reforms, besides other steps to create a conducive environment for investors.

First Published: Monday, April 7, 2014 - 19:50
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