TOP TEN AGENDA OF MODI GOVERNMENT FOR SOLUTION

The 282 seated sole winner of India's Lok Sabha election 2014, Modi government finally set to form the new government for the next five years. We congratulate him for becoming our 16th Lok Sabha Prime Minister of India.

BJP has just won the election 2014 and having wonderful agenda for India's new era, Its just a theory and practical is yet to come till 2019. Modi set top ten agenda before Election 2014 and all eye is set, how and when it will fulfill. Let us see at glance the top ten agenda's of Modi Government.

 1) GOODS AND SERVICES TAX:

India's most ambitious indirect tax reform would replace existing state and federal levies with a uniform tax, boosting revenue collection while cutting business transaction costs. GST, which could boost India's economy by up to 2% points and has so far faced resistance from various states, including those governed by the BJP who fear a loss of their fiscal powers.

The BJP aims to address state concerns and implement GST in an "appropriate time frame". The Congress party would back the reform in opposition, a senior party member told Reuters earlier this month. The reform needs broad backing because it requires a change in the constitution. 

As per me the service tax is levied even in basic needs of human in India, cost it to pay more and more, service tax levied in food items, registration of flat for residing and sometime even cloth, which should be consider with less tax rate. 

2) RESERVE BANK OF INDIA

A Reserve Bank of India panel in January proposed key changes including targeting consumer price inflation and making a committee responsible for monetary policy, and not the RBI governor alone. This would require changes to the RBI Act. The BJP top brass has not spoken widely on the issue, but it will likely be a tough sell for RBI Governor Raghuram Rajan. He has the backing of some global agencies like the International Monetary Fund. Modi's government also promise to decrease the country's debt to foreign investor. The next government should maintain the 3rd largest economy in the world in ranking. And need to control strong financial status with other developed countries. 

3) PRIVATIZATION

The new government is likely to focus on selling its holdings in state-run firms that could raise much-needed revenues to trim India's ballooning fiscal deficit and boost economic growth. The rising stock market helped New Delhi raise more than $3 billion via stake sales in the fiscal year to March 31 - but that was only a third of the government's original target. But privatization may lead to unsecured jobs for many. 

4) SUBSIDIES

Modi's government needs to examine how it subsidies basic commodities if it is to contain the fiscal deficit and avoid a ratings downgrade. Subsidies cost an estimated 2.2 percent of India's GDP in 2013-14. The BJP in its manifesto said it will seek greater fiscal discipline without compromising on the availability of funds for development. The new government should decrease the price of basic needs in India. 

5) LABOR

The BJP wants to reform labor laws to boost job-intensive manufacturing and create as many as 10 million jobs a year for young Indians entering the workforce. Changing the law would be politically tricky, though, and Modi may seek to encourage competition between India's states to boost job creation. If this will be plan then within next year there should not be any unemployment. Hope Modi can resolve it. But Modi government should also make a pay scale law according to qualification and sector wise to avoid employee exploitation.

6) DEFENSE

More foreign investment in defense would help India reduce imports, modernism weapons systems and speed up deliveries of hardware it needs for operations and training. India, the world's biggest arms importer, now allows 26 percent foreign ownership in defense and proposals to exceed that limit are considered only for state-of-the-art technology. The BJP has said it would allow some greater foreign investment in defense industries. But government should not waste money for unnecessary equipment rather think for better development in other sectors too.

7) INSURANCE

Attempts to raise the cap on foreign investment in India's $45 billion insurance sector, to 49 percent from 26 percent, have met resistance from employees at state-controlled insurers and their political backers. A BJP leader said in March the party had held talks with Congress to break the deadlock. The new government should remove service tax in insurance policy too, it is just a waste of money for common man.

8) BANKING

The next government will need to help state-run lenders battling rising bad loans caused by the slowing economy, rising interest rates and project delays. 

Stressed loans in India - either bad and restructured - total $100 billion, or about 10 percent of all loans. Fitch Ratings expects that ratio to reach 14 percent by March 2015. Rising bad loans threaten to choke the gradual recovery in Asia's third-largest economy, according to the OECD. The interim budget in February set aside $1.89 billion to help the sector meet key capital ratios, but analysts say more money is needed. Bank need to provide better service to its customers. And interest rate in saving account, fixed deposit account and recurring account should be increase.

9) POWER

A BJP-led government may implement the so-called Gujarat model of distributing electricity that has been widely praised for delivering reliable 24-hour power supplies in the state. Modi provided different power feeds to farmers, households, and companies instead of a uniform feed in his home state. Electricity problem is common even in the cities of India, hope this government will do its best. 

10) GAS PRICING

In January India notified the new gas pricing formula that could double the prices of locally produced gas from April 1, but the poll regulator stopped the government

from raising the prices until the elections are over.Reliance Industries and its partners BP and Niko Resources last week issued a notice of arbitration to the government seeking implementation of higher gas prices. The BJP-led government may review the formula on the lines suggested by a senior party leader last year and announce the date of implementation of new prices. Modi government should listen to the common men and women request rather than millionaire businessmen, because people has elected him to become Prime Minister.

Conclusion

This are just a theory and big dream of Modi's government hope will see the dream as fulfillment of many household of Indian family. The previous government also do lot things in the development and it is now BJP government responsibility to fulfill all the pending works of development in India. The real story will begins from 26th May 2014 onward.