New Delhi, May 18 (IANS): - Start process of fiscal consolidation by taking steps that include subsidy rationalisation;
- Improve investment climate by easing both the cost of doing business and policies;
- Tame inflation without compromising on growth with supply-side interventions;
- Initiate measures on war footing that can revive manufacturing;
- Ease both the flow and the cost of credit to industry;
- Put key legislations in place to lift investor mood, like pan-India goods and services tax, banking, pension and insurance reforms, direct tax code;
- Pursue divestment aggressively;
- Ease norms that govern handing over key resources, like coal, spectrum and land, to industry;
- Ease key clearances for businesses, notably on environment and other procedural issues;
- Define clearly the role of regulators, including the Reserve Bank of India, with prudent oversight that is based on trust.