Government Downsizing
• Govt staff to be cut by 2% every
year
• Attractive VRS package in the offing
• LTA to Central govt staff to be suspended
for 2 yrs
Economy
•
Combined fiscal deficit 10% of GDP
• No hike in non-plan expenditure to be
allowed
• Disinvestment target set at Rs 12,000
crore
• Incentive fund for states to implement
fiscal reforms
Equity
Market
•
Infrastructure funding to come from debt market
• Electronic fund transfer system to be put
in place
• 7 more debt recovery tribunals
Banking
sector
•
Abolish Banking Services Recruitment Board
• Indian firms to be allowed to list in
foreign bourses
• FDI to be put on automatic route
Industry
•
14 items in export goods to be dereserved
• Plan fund for power development up to Rs
15 crore
• Electricity Bill to be introduced in 2001
Power
•
Accelerate reform process in SEBs
• Budget allocation to textile industry
increased
Telecom
•
To introduce Convergence Bill
Infrastructure
•
Rs 932 crore to be made available to states
Labour
•
Govt okay needed to retrench over 1000 employees
• Protection for contract labour
• Industial Disputes Act and Contract Labour
Act to be amended
• National Company Law Tribunal to be set up
Education
•
Payments to eng institutions to be made tax free
• 100% tax benefit for tech education
• New educational loan scheme formulated
Rural
Sector
•
Reduction in rate of interest by Nabard by 5%
• Personal insurance for Kisan card holders
• Tax exemption for Nabard
• Rs 38 cr for tech mission in horticulture
in N-E
• Rationalised subsidies
• Review operation of Essential Commodity
Act
