The BJP has also planned industrial cities in different industrial corridors for balanced regional development.
The BJP promised an overhaul of existing economic and commercial laws, including those dealing with taxation, to meet the needs of future growth in its election manifesto released on Sunday.
“We are committed to launch an exercise to completely revamp our economic and commercial legislations to suit our economic needs,” the party said.
Apart from commercial legislations, the document also hinted at changes in tax laws as part of its work plan for the next five years.
While indirect taxes have undergone a change through goods and services tax, a similar relook at the direct tax law is also being talked about. Within direct tax, the focus would be on the levy of capital gains.
The manifesto, which the party also calls ‘Sankalp patra’, also promises simplification of regulatory processes and investment in infrastructure to aid manufacturing. “We recognise that manufacturing presents a huge potential for employment creation. We will make Bharat a trusted global manufacturing hub,” the document said.
The party also promised to support steel, cement, metals and engineering goods industries to adopt a greener manufacturing process.
On infrastructure, the BJP said it will continue with its investment programme for infrastructure. It has reiterated its focus on modern road network, enhanced rail and metro connectivity with new-age trains and expanded networks, EV charging stations, new airports, and telecom infrastructure. In telecom, it talks of affordable 5G and innovative 6G technology.
Defence manufacturing will be facilitated by accelerating indigenisation in major air and land equipment platforms, the manifesto said.
The BJP has also planned industrial cities in different industrial corridors for balanced regional development.
Source:financialexpress.com