If you had three wishes?
• My priorities would be to increase growth, bring down the cost of capital, make taxation simpler and encourage the inflow of foreign capital.
Rashesh Shah, chairman, Edelweiss Securities. Abhijit Bhatlekar / Mint
• I would ensure that there is a long-term plan to rein in the deficit through divestments and raising resources through radio spectrum sales, and oil and gas exploration licences, etc.
• I would ensure that social spending continues to keep the inclusive growth intact. I would ensure that infrastructure gets a boost through government sending as well as incentives such as tax breaks.
Also Read More on Budget 2009
If you could end something?
I would make the tax structure simpler and easy to manage. Taxes such as fringe benefit tax and securities transaction tax are distortionary and reduce the efficacy of corporate spending. These should be done away with.
I would also increase the tax-free slab and the standard deduction so that the common man has some relief.
I would increase foreign direct investment limits in retail, insurance and banking. I would increase the threshold for foreign investments in treasury papers and corporate bonds.
I would eliminate the dividend distribution tax as this is double taxation and eats into returns earned by equity investors for providing higher risk equity capital.
My three wishes are more efficiency in public spending, lower interest rates and lower food and oil prices.