The Hindu Business Line : Repeal prototype laws, says Assocham survey

THE repeal of the Urban Land Ceiling Act (ULCA) and rationalising of property tax all over the country will not only facilitate foray of foreign companies in retail, but also create a multiplier effect for agriculture, manufacturing and food-processing and create employment for a minimum of 50-55 lakh people in these sectors in the next 4-5 years, reveals an assessment exercise carried out by the Associated Chamber of Commerce and Industry (Assocham) on the impact of prototype laws such as ULCA and Property Tax on retail business.

"The two laws have outlived their utility and hinder the growth prospects of Indian retailing in the present form and therefore modifications have become necessary to bring about momentum and eliminate sluggishness in the Indian agriculture and food processing industry," said Mr Mahendra K. Sanghi, President, Assocham.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Monsoon hits Mumbai, but northern plains will have to wait

Recipe to boost investment climate in TN

Ayurveda moves with the times

Govt gives in-principle nod for 3 more SEZs

MCX seeks nod for futures trading in natural gas

Repeal prototype laws, says Assocham survey

`Navratnas public sector character won't be altered'

The retail road to nirvana

AP Govt drafts Ordinance on reservations for Muslims

MNCs absorb more IIT-M students this year

Setting a KLIPP's pace

The Hindu Education Plus workshop

Agenda for the week

`N. America accounts for over 60 pc of exports'