Budget wish-list: Sandip Sabharwal, CEO - PMS, Prabhudas Lilladher

Tuesday, June 23, 2009  

 

Please find pasted below the Budget Wish-List by Mr Sandip Sabharwal, CEO - PMS, Prabhudas Lilladher.

 

His photograph is attached herewith.    

 

Request you to kindly carry for your budget series.

 

 

Thanks & regards,     

 

Varsha Talreja

Paradigm Shift PR, Mumbai

 

022 22813797 / 98

9821195211

paradigmpr@gmail.com

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Budget Wish-List        

            - Mr Sandip Sabharwal, CEO - PMS, Prabhudas Lilladher

 

   

"Although it is fashionable to have fancy expectations out of the union budget, I believe that it's important to have practical ones.       

 

As such the key statements of intent with timelines should be –    

  

• The direction of the disinvestment programme with clear indications of the mode and targets for the same. There should also be clarity on the usage of these funds for infrastructure build up.        
• Greater emphasis on urban renewal programmes with incentives for carrying out stamp duty reforms for the states.       
• A clearer fixed date for CST phase out as it will improve productivity significantly.    
• A strong subsidy and incentive regime for investment into clean energy.      
• Clear guidelines set up for mandatory targets on clean energy as a percentage of total consumption. Fuel ethanol, wind, solar all should be part of this.
• Improvement of farm productivity and the supply chain is very important both for food security as well as improving rural incomes. A direct subsidy regime should be introduced for purchase of products that aid this cause as well as for storage and transportation infrastructure.
• Aircraft turbine fuel should be made a declared product to improve the extremely fragile state of the airline industry.
• Fuel ethanol should be made a declared good and interstate transportation should be allowed unhindered.     
• Open access for electricity should be made mandatory.       
• In order to make available long term and cheap funds for infrastructure forex borrowings for the same through scheduled commercial banks or organizations like IIFCL or IDFC should be taken up on a large scale with the forex risk taken up by the government. There can be a limit of USD 10 billion per year for this.
• Irritant taxes like FBT should be scrapped and short term capital gain tax again made 10 percent.     
• Overall continuity in tax regime should be spelt out with a clear direction on the time frame for roll back of the indirect tax cuts. The roll backs should not take the industry and consumers by surprise".  

 

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