Finance Arun Jaitley
Carries hopes of nearly 125 crore Indians. India Inc and the common man alike want him to wield a magic wand and get them out of the high cost of capital back-breaking inflation. Here’s what he needs to do first:
■ Decide fresh timeline for implementation of GST
■ Contain inflation (retail inflation at 8.9 per cent) and spur growth (4.7 per cent)
■ Rejig income-tax standard deduction from `2 lakh to `3 lakh
■ Bring in 100 per cent FDI in defence production
“The challenges are very obvious. We have to restore the pace of growth, contain inflation and concentrate on fiscal consolidation itself.”
Commerce Nirmala Sitharaman
“It is important is to see where unnecessary overlaps have caused delays. If there is efficiency in bringing activities and departments together, it is beneficial for the country,”
■ Look at FDI in a calibrated manner to boost exports
■ Explore new regions to create a bigger foot print for Indian exports
■ Help India meet its export target to lower twin deficits
■ Ensure better co-ordination between the Ministries of Finance and Commerce as the government tries to turn the economy around
Roads Nitin Gadkari
■ Restart stalled highway development/construction that stood at 3 km a day when UPA demitted office. It was 23 km per day when NDA left office
■ Build roads and highways in Naxal-affected areas, the Northeast and Jammu & Kashmir
■ Use time-bound approach for project clearance and construction to keep cost under check
■ Construct 1620 km of inland waterways linking Gangotri, Allahabad and Kolkata Repeal outdated laws to speed road construction
“Environment, forest and my ministry will work in tandem to speed up highway construction.”
Environment Prakash Javadekar
■ Clear pending projects in a week’s time as ordained by the Prime Minister
■ Conserve ecology while facilitating growth
■ Revisit issue of go and no-go areas for dense forest mining
■ Allow online submission for forest clearance applications for transparency and effective monitoring
■ Clean and conserve the Ganga through dredging
“There will be no compromise on environmental protection and due diligence.”
Power Piyush Goyal
■ De-bottle and streamline mechanisms for faster project clearance
■ Create more role for the private sector through transparency
■ Get power, coal and environment ministries to work in tandem, to reduce cost and time
■ Clear stalled power projects worth over `4.35 lakh crore.
“We need to set the process right. We have to work within the framework provided in the system. We have to simplify, rationalise and be far more honest than what has been in the past.”
Petroleum Dharmendra Pradhan
■ Reduce India’s oil import bill of `6 lakh crore by enhancing domestic exploration capacity in both oil and gas
■ Effectively manage subsidies as it is a politico- economic compulsion.
■ Prioritise international asset acquisition to expand India’s global footprint in energy sector
■ Improve services for 16 crore LPG users
■ Create technological synergy for better management of India’s energy security
“Poor monitoring of crude oil production has left India with a huge import bill. This must be rationalised keeping the interest of the nation in mind.”