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Govt unveils second stimulus package

New Delhi: India on Friday said it would ease foreign borrowing rules for firms in the infrastructure and real estate sectors, and raised the foreign investment limit in corporate bonds to $15 billion. As it unveiled a second stimulus package moments after the RBI slashed its main policy rates for a slow ....Read more

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India's first major recessionBy: GNS | Saturday , 3 Jan '09 2:00:07 AM Reply | Forward I have NOT seen a single measure that frees Indians from government controls.More legislation leads to more complexity in compliance.Just like bank rate reduction,India must cut all taxes ,including all kinds inter-state inter-city octroi, on strategic job creating goods like cement,steel,timber and see how it leads to more jobs for AAM AADMI.Truck drivers would welcome removal of all octroi posts and inter-state barriers than 50% depreciation allowance.To boost skill sets of AAM AADMI India must allow duty-free import of all kinds of artisan tools just as they allow import of equipment for the elite professions of doctors,dentists,architects.My fear is these measures will not bring immediate relief in sectors where millions of jobs can be created.At the same time.governments at the State / Municipal level should drastically cut stamp duty / taxes on newly built housing for a period of 3-5 years.Higher economic activity will bring more taxes to offset these revenue losses.

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