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Congress Manifesto: Nav Sankalp Economic Policy for Jobs

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By Rediff Money Desk, NEWDELHI   Apr 05, 2024 22:23

Congress releases its manifesto for the 2024 elections, outlining a 'Nav Sankalp' economic policy focused on job creation, wealth generation, and welfare.
Congress Manifesto: Nav Sankalp Economic Policy for Jobs
New Delhi, Apr 5 (PTI) The Congress on Friday slammed the BJP's "legacy of jobless growth" and said it was time for a "re-set" as it pitched for a 'Nav Sankalp Economic Policy' with jobs being its cornerstone.

The Congress also said it will replace the GST laws enacted by the BJP/NDA government with GST 2.0 and come up with a direct taxes code to usher in transparency and equity in the direct taxes system.

The three goals of our economic policy were, and will be, work, wealth and welfare, the party said in its manifesto released on Friday.

It promised that it will maintain stable personal income tax rates throughout its term, to ensure that the salaried class is not subjected to rising tax rates and have clarity to plan their finances over the medium-to-long period.

"The Congress will replace the GST laws enacted by the BJP/NDA government with GST 2.0. The new GST regime will be based on the universally accepted principle that GST shall be a single, moderate rate (with a few exceptions) that will not burden the poor," the party said, adding that GST will not be levied on agricultural inputs.

It also promised that the GST Council will be re-designed and will be the final authority on policy and on all matters relating to GST.

"After 33 years, the time is ripe for a re-set of economic policy. We need a Nav Sankalp Economic Policy. The cornerstone of the Nav Sankalp Economic Policy will be Jobs. To create jobs, India must become a producing economy. We must produce goods and services for ourselves and for the world. There is a huge opportunity for India to emerge as the world's biggest producer.

"We reject jobless growth and the BJP's legacy of job-loss growth. We will address the issues of inflation; extreme poverty among a significant section of the people; hunger; nutritional deficiency among women and children; and the growing inequalities of income and wealth," the Congress said.

Congress leader and head of the party's manifesto committee P Chidambaram said, "'Jobs! Jobs! Jobs!' is a cry everywhere in India. The sections on work encapsulates what we will do to create jobs." "We had said that we will inexorably move towards an autocracy. We are already described as an electoral autocracy by many-many thinkers of the world, that is happened. While, we are unhappy that what we had predicted, has happened. We have, in this manifesto, suggested bold measures to reverse the damage, that is happened in the last 5- 10 years."

He also promised that after UPA brought out 24 crore people out of poverty during its 10-year rule, it has been estimated that 23 crore people are still poor in this country.
"We promise that if the Congress, or a Congress led government comes to power in 2024, we will lift 23 crore people out of poverty in the next ten-years. That's possible, it's doable."

The Congress manifesto also promised to eliminate "Angel tax" and all other exploitative tax schemes that inhibit investment in new micro, small companies and innovative start-ups.

The party said it is committed to rapid growth and generation of wealth and has set a target of doubling the GDP in the next 10 years. It also resolved to make India a manufacturing hub by raising the share of manufacturing from 14 per cent to 20 per cent of GDP in the next five years.

It also promised to fill nearly 30 lakh vacancies in sanctioned posts at various levels in the central government and other institutions. It also promised to publish a job calendar for each department, institution and public body with details of vacancies and the timelines to fill the vacancies.

The party said it will lessen the burden of tax on MSMEs owned by individuals and partnership firms.

"We will end the duplicitous 'cess' raj of the Modi government to deny states their rightful share of tax revenues by introducing a law to limit Union cess and surcharges to 5 per cent of gross tax revenues," it said.

It also said the administration of GST laws will be divided horizontally between the central government and the state governments.

The Congress promised that a portion of GST revenues will be allocated to panchayats and municipalities.

Shopkeepers and small retail businesses that face intense competition from online businesses will be given significant tax relief, it promised.

The Congress said it will simplify the corporate taxation structure and end tax terrorism. "We will restrain the investigating agencies from misusing their powers to reward or punish corporates and ensure that they act within the strict limits of the law."
Dubbing the BJP/NDA government as a case of "taxation gone berserk", the party said the share of taxes paid by the common person and the poor through regressive indirect taxes has increased significantly and the share of taxes paid by corporates has decreased '? the exact opposite of what a people-friendly and progressive taxation policy should be.

The Congress will undertake a complete overhaul of India's taxation system to make it people-friendly and efficient, and to incentivise private savings and investment, it said.

The party, whose leaders have been speaking against crony capitalistm and monopolies, said it will ensure a level playing field for all.

"We are opposed to monopolies and oligopolies and crony capitalism. We will ensure that no company or person arrogates to itself or himself the financial or material resources or the business opportunities or the concessions that ought to be available to every entrepreneur. Our policy preference will be in favour of business enterprises that create a large number of jobs," it said.

"We will address the growing inequality of wealth and income through suitable changes in policies," it said.

On media, the opposition party's manifesto said in the last 10 years, significant sections of the media have been robbed of, or surrendered, their freedom.

"The Congress will pass a law to curb monopolies in the media, cross-ownership of different segments of the media, and control of the media by business organisations. Congress will refer cases of suspected monopolies to the Competition Commission of India," it said.

Noting that the economic empowerment of minorities is a necessary step for India to realise its full potential, it said, "Congress will ensure that, like every citizen, minorities have the freedom of choice of dress, food, language and personal laws."

It promised to encourage reform of personal laws, the manifesto said such reform must be undertaken with the participation and consent of the communities concerned.

The Congress also said it will abolish the contractualisation of regular jobs in the government and public sector enterprises and ensure regularisation of such appointments. It said it will enact a law with reference to Article 15(5) of the Constitution to provide for reservation in private educational institutions for SC, ST and OBC.

The Congress also promised to establish a diversity commission that will measure, monitor and promote diversity in public and private employment and education.

It also promised to enhance the Centre's contribution to pensions for senior citizens, widows and persons with disabilities under the National Social Assistance Programme from Rs 200-Rs 500 per month and raise it to Rs 1,000 per month.

"We will restore travel concessions in public transport (rail and road) for senior citizens," it said.

"After wide consultation, Congress will bring a law to recognize civil unions between couples belonging to the LGBTQIA+ community," it said.

We will abolish application fees for government examinations and government posts, the party said.
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