Budget 2015: Five Most Urgent Reform Priorities For Modi

BANGALORE: The new Modi government has to decide a budget that will enable India’s economic success. The budget should reform aspects of the previous one which were unsuccessful, and implement new growth oriented policies. The timesofindia.com compiled a list of the most important reform priorities; scored according to how likely they are to be adopted.

Goods and services tax: Almost 100 percent likely
 

The GST will be levied nation on all trade transactions across India.-wide. As of now, each of the 29 states has its own policies, and the new law will mandate on payment of the goods and services tax for every inter-state transaction.This new tax policy was delayed quite a bit and is scheduled to come into effect from  April 2016.

Inflation targeting: Very likely Targeting Inflation

 Controlling inflation is another priority of the central government.    The declining value of the rupee and double-digit inflation made foreign investors aware of current account deficit in India. The RBI chief, Raghuram Rajan wants to implement a structured inflation targeting system that will predict and control inflation growth, keep interest rates down for loans, and encourage investors.

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