PM's address at the Annual General Meeting of FICCI
09 Jan '07
2 min read
The Prime Minister, Dr. Manmohan Singh announced that a new Rehabilitation Policy will be finalized in the next three months, which will be more progressive, humane and conducive to the long term welfare of all stakeholders in our economy.
In his Inaugural Address at the FICCI Annual General Meeting, Dr. Singh said that there is no reason why the spread of industrialization should be a contentious issue in our country. “Issues such as land acquisition and displacement of people and their rehabilitation and resettlement should be transparently and effectively addressed. They can and they will be”, he added.
The Prime Minister announced that he would ask the Finance Ministry and the Investment Commission to suggest an institutional mechanism whereby large scale projects both in the public and private sectors are facilitated so that they take off as originally planned.
Calling for a more socially responsible business. Dr. Singh asked the Indian industry to be sensitive to the needs to empower the weaker sections of the society, particularly the scheduled castes, scheduled tribes and minorities, so that they too can benefit equitably from processes of economic and social development.
“Industrial development must not be a zero sum game. It need not, it can be a win-win process for all sections of society and we all must strive to make it happen”, Dr. Singh asserted.
Stressing that our tax regime should be liberal, but equitable, the Prime Minister said, “We will now move towards a common GST and better harmonization of VAT rates as well. In the long run, our tax regime should not have too many exemptions which make tax administration an unnecessarily complex exercise vulnerable to misuse.”
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