Union Budget 2019: Economists seek tax reforms, measures for jobs, investments in meeting with Nirmala Sitharaman
FirstpostNew Delhi: Further simplification of GST, implementation of the direct tax code, initiating job-oriented growth measures and maintaining fiscal prudence were some of the key suggestions made by economists for the ensuing Budget to Finance Minister Nirmala Sitharaman on Friday. They touched upon a host of macroeconomic factors like economic growth, jobs, fiscal management, investments and public sector borrowings, according to a release by the finance ministry. Among other major suggestions were removing bottlenecks in supply-chain, framing EXIM policy for agriculture, doing away with specific duties on textiles, reviving inter-state councils for holistic domestic growth, skilling youths, giving a fillip to services and manufacturing sector, and bringing structural reforms for long-term growth. The participating economists also underlined the need for bringing Insolvency and Bankruptcy Code type framework for NBFC sector, infusing capital in banks and tapping into e-commerce’s potential for job growth.