Bangalore: Reminding the UPA-II government about the need to reverse the negative perception of a 'decision-making paralysis', industry body Assocham on Tuesday made a pitch for second generation reforms in various sectors, including finance, banking, taxation and agriculture.
    
The negative perception of a 'decision-making paralysis' within the government must be reversed now, or else the opportunity would slip by, the Associated Chambers of Commerce and Industry of India (Assocham) said.
    
A uniform Goods and Services Tax, with a simplified and long-term Direct Taxes Code, can electrify business prospects, it said. This will restore business confidence and bring in foreign investors looking for robust bond and corporate debt markets, the chamber said in a statement.
    
Early implementation of market-driven pricing of oil products is imperative to reduce subsidy outgo and conserve oil and gas resources. The government must announce deadlines for introducing inclusion programmes like food security, universal healthcare, insurance and housing as well, ASSOCHAM said.
       
"This should help in re-connecting with people at large amid corruption scandals and perception of policy paralysis. It is important to gain people's confidence that the United
Progressive Alliance means business. However, ways beyond tightening monetary supply must be explored to control upward spiralling inflation," it added.
    
The government must find a workable formula to acquire land for industries and create urban clusters, the chamber said.
    
The draft Land Acquisition Bill and R & R Bill should instill confidence among urban infrastructure developers, with the urban population set to reach half a billion by 2020-end, it said.
    
At the same time, the proposed law should compensate farmers with reasonable returns and they should be made partners in the process through employment and business opportunities, it said.

Agencies