In order to put a check on the skyrocketing prices, BJP has announced setting up of Price Stabilization Fund which aims at regulating inflow and outflow of money by checking inflation and ensuring fiscal discipline.

Holding black marketing as the major reason behind the rising food prices, the BJP has promised setting up of special courts that will particularly deal with cases related to black marketing and artificial scarcity.  

The party has also hinted towards implementation of recommendations of Gujarat Chief Minister Narendra Modi-led committee comprising chief ministers of the country. This committee was formed in 2011 but its report was not given due consideration by the UPA government.

The saffron party, which is claiming to bring the economy back on track by putting an end to the policy paralysis, has failed to give a clear vision to its economic strategy in the manifesto.

In order to boost the agriculture sector and improve the condition of farmers in the country, the party has promised to provide real time data of income on production, imports and other related information to them.

The party manifesto has remained silent on the issue of fiscal deficit. However, the BJP has indicated that there will be no shortage of fund for the developmental work but fiscal discipline would be strictly ensured.

The manifesto has given high priority to revival of growth and job creation, by promising check on inflation, tax reforms and promotion of foreign investments. However, the party has strictly said no to FDI in multi-brand retail. Meanwhile, the India Inc has suggested the saffron bandwagon to reconsider its view on FDI in multi-brand retail.

The banking sector, which is facing a slowdown due to the huge pressure from bad loans, has also not received much focus in the BJP manifesto.

The BJP has also accused the UPA government of unleashing tax terrorism and uncertainty in the taxation system of the country. The party promised tax reforms with focus on a non-adversarial and conducive tax environment, overhaul of the dispute resolution mechanisms, bringing on board all state governments in adopting GST (Goods and Services Tax) and provision for tax incentives to promote investments.

In 2009 manifesto, the party, however, had given clear picture over improvement in tax system.


Latest News from India News Desk