Reviving Indian Economy

Perhaps the best stimulus which our government can unleash is caring attitudes in the entire bureaucratic machinery, duly monitored by the political executive, to unleash the 'animal spirits' in businesses otherwise struggling to get back on their toes.

Secondly, it would also be great to waive of all license fees pertaining to commercial establishments for a year. But next year onwards, realize this waiver from the beneficiaries of the same, in four yearly instalments. Our central government can compensate the state governments for the loss in revenues caused by this waiver this year.

The increase in Centre's overall fiscal deficit, can be partially offset by increased collections of indirect taxes like GST and other state levies, besides unleashing other related multiplier effects in our economy, especially in terms of growth in employment and GDP.

These two measures as cited above, can be role-models for the rest of the world to emulate.

Main key to overall economic recovery..

Taming of oil prices via a deal with Iran is the main key to overall economic recovery in the world. With the US and Nato troops withdrawing from Afghanistan, Iran holds another key to ensure peace and stability in the region.

Time for some innovative diplomatic efforts by the US and its allies, as well as by India which has substantial interests in Afghanistan, to lift all sanctions on Iran and bringing it back to the mainstream of international relations.

This would also ensure that Iran floods the oil markets thereby breaking the power of Opec to hold the oil prices at such high levels, thereby jeopardizing the overall economic recovery of the world in such trying times.

Besides, Iran could be a frontrunner in keeping a watchful eye on Afghanistan which should not become am launching pad for terror activities in other parts of the world. This has to be avoided at all cost.