Economy is faltering due to decline in level of competence and competitiveness

It will create more panic among investors, bring more discredit to govt

Main problem is low level of revenue collection relative to GDP

Rupee-dollar exchange rate cannot be controlled for a long time

Unless investors are facilitated, dealing with twin deficit will not help the economy

It is politically easy, fiscally possible and does not scare investors

Govt should develop a comprehensive growth policy that covers all areas of socio-economic development

Should not go back to half-century-old mantra of import substitution

Country should levy flat income tax, eliminate advance tax at import stage

It can help reduce poverty through job creation