Saturday, May 30, 2009 / Chennai

A 100-day agenda:

100- Day charge of Manmohan brigade

Ministers leading the UPA economic team look to focus on cheaper telephone calls, transparency in dealing, protection of small investors.

Govt. committed to compete Sethu project

Union Shipping Minister G K Vasam says the government is committed to complete the Sethusamudaram Project. He said his Ministry hopes to award at lease six concessions in the port sector and also initiate the process for 20 other concession.

Lower call rates

A Raja, who retained Communication and Information Technology Ministry, swears transparency in spectrum allocation and also announces that his ministry is planning to bring down mobile tariffs to 10 paise a minute for local calls and 25 paise a minute for the STD calls. At present, local call rates from Rs1 to Rs.2 a minute.

Deregulation of Fuel process

Murli Deora, Minister for Petroleum and Natural Gas, announces measures to be implemented in next three months, including deregulating petrol and diesel prices in six weeks and new scheme of rural LPG distributor. At present the Centre determines prices for retail fuel such as petrol and diesel below actual prices. It also sub-sidises state-run firms for the loss.

Ministers take charge, declare action plan

Cheaper calls, transparent allocation of spectrum, deregulation of fuel prices, rural LPG distribution and protection of small investors are part of the action plans that ministers in Prime Minister Manmohan Singh’s cabinet have promised over the next 100 days as they took charge of their portfolios on Friday.

A Raja, who retained Communication and Information Technology, swears to be transparent in spectrum allocation. “Auctioning of 3-G spectrum is on top of my priority list”

Raja said his ministry was also planning to bring down mobile tariffs to 10 paise a minute for local calls and 25 paise a minute for STD calls.

Murli Deora, Union Minister for Petroleum and Natural Gas, announced several measures that would be implemented in next three months. “The issue of deregulation is being discussed and it will be put up to the cabinet for decision,” Deora said adding the rural LPG distributor scheme will be implemented in the next 100 days.

Commerce Minister Anand Sharma said that Indian would maintain its export at $160 billion for this current fiscal, as steps would be unveiled in the upcoming Budget, and the foreign trade policy review.

Minister of State for Corporate Affairs (Independent Charge) Salman Khursheed said that Government has asked the investigating agency, SFIO, to expeditiously initiate prosecution proceeding against the guilty in the Satyam case and put the whole process on fast track.

Minister for Road Transport and Highways Kamal Nath said that progress made in the road sector would act as a major economic stimulant as it would generate demand in other sectors, and create jobs.

Shipping Minister G K Vasan said that Government was committed to the successful completion of the Sethusamudaram project, and that his ministry hopes to award at lease six concessions in the port sector, initiate the process for 20 other concessions and steps would be taken for mechanization of berths and making ports capable of handling larger ships.

India Inc’s Agenda

India Inc draws an action plan for the UPA government to address the triple challenge of restoring economic growth to the 9 per cent mark, ensuring national security and improving governance at all levels.

Some of 100-day action agenda.

• Slash repo and reverse repo rates by 50 bps.
  
• Monetization of Fiscal Deficit.
• Disinvestment of equity profitable PSUs.
• Target subsidies through “Smart Card.”
• Abolish Administered price mechanism.
• Single Window Clearance for power projects.
• Announce a comprehensive National Manufacturing Policy.
• Reform Labour Laws.
• Include MSMEs under the priority sector lending.
• Rationalization of fiscal and operational framework for the MSMEs.
• Establish SME exchange.
• Deregulate of Fertilizer sector.
• Create a “Common Market” for Agricultural Produce.
• Create a land market for Commercial agriculture.
• Incentivise private participation in school education.
• Open up higher education to foreign participation.
• Implement the Right to Education Bill.
• Link education to employability.
• Implement GST.
• National identity (bio-metric) card to enable greater penetration.
• New financial products.
• Implement the R H Patil Committee Recommendations on developing corporate governance.
• Develop of debt market