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Niti Aayog Vice-Chairman Rajiv Kumar on Tuesday ruled out introduction of any investment allowance, stating that a lot of unutilised capacity already existed in the country.
At an interactive meeting organised by the Confederation of Indian Industry (CII), Kumar said that the Government was mindful of this fact of unutilised capacity in the industry and had therefore in the last two years refrained from offering such tax breaks.
Kumar also underscored the need to build R&D culture in the country. He highlighted that private sector investment in R&D was only 0.2 per cent of the Gross Domestic Product and there was a need for better synergies between public and private sectors at this front.
Kumar also later told reporters that the rupee decline would not be inflationary and that no fiscal steps at this juncture are necessary to arrest the fall of the local currency against the US dollar.
On Ayushmaan Bharat (Pradhan Mantri Jan Arogya Yojana), Kumar expressed confidence that private hospitals and healthcare providers will come on board if appropriate package rates are offered.
Earlier, in his address, Kumar said that nearly all States — except four — have signed a memorandum of understanding with the Centre for the Ayushmaan Bharat scheme. Most of the States have decided to adopt the Trust model, he added.
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