sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Budget Extravaganza »
 How Union Budget 2018 impacts individual taxpayers
  How Budget 2018 will be different due to GST
 This is how Budget 2018 announcements may help you save tax
 Here's why the government advanced the Budget date
 Will Budget 2018 Reduce Your Income Tax? 10 Expectations
 How Budget 2018 will be different due to GST
 Will Budget 2018 cut tax on switch from dividend to growth option in mutual funds?
 Startup eco-system looks forward to the budget for addressing tax dilemma
 High time to prioritise non-tax revenue in the Budget
 Govt may abolish dividend distribution tax in budget
 Budget making in the GST era: paradigm shift

PM: Budget to give clearer picture on economic reforms
February, 16th 2011

Under attack for high food prices and slow reforms, Prime Minister Manmohan Singh today said the UPA has not given up its economic agenda and promised clear measures in the upcoming Budget.

Exuding confidence that inflation rate should be "no more than 7 per cent" by March-end from 8.23 per cent in January, Singh said the government's effort has been to rein in high prices without hurting growth, which he projected to be at 8.5 per cent this fiscal.

Addressing electronic media editors here, Singh said global factors like high crude and food prices were not under the control of the government and that efforts were being made to insulate the poor through programmes like NREGA and keeping prices at state-run ration shops unchanged since 2002.

"We want to deal it (inflation) in a manner that the growth rhythm is not disturbed. If we were concerned only in curbing inflation we could have done with pursuing tighter monetary policies...If in the process the growth rate gets hurt that would not do our country any good," he said.

Rejecting criticism that the government has given up on economic reforms, the Prime Minister said: "We will persist... I sincerely hope in the (upcoming) Budget we will see a clearer picture of the reform agenda."

He, however, blamed the Opposition for not cooperating with the government on "path breaking reforms on Goods and Services Tax (GST)".

The Opposition, "particularly the BJP, has taken a very hostile attitude," he said.

For the introduction of GST, the Constitution Amendment Bill has to be passed by a two-third majority in both houses of Parliament and ratification by at least 15 State Assemblies.

The draft of GST, which subsumes most of the state and central taxes, is being opposed by NDA ruled states.

Indicating big initiatives for infrastructure development in the Budget, Singh said: "I believe we are going to have a fresh wave of infrastructure investment with the help of PPP (public-private partnership) model."

Stating that discussions are going on to create a infrastructure development fund, he said Finance Minister Pranab Mukherjee may make some announcements. "Some discussions are going on...And most probably, Finance Minister will outline something in that direction."

India needs investment to the tune of over one trillion dollars in the 12th five year plan (in 2012-17) to sustain a growth rate of 8-9 per cent.

When asked from where the country would mop up resources, he said: "We must create a viable corporate debt market. I think that is the direction in which we must move."

Commenting on the drop in FDI, Singh admitted there was a need for "favourable" environment for fund flow from abroad.

"We need to strengthen the resolve to create favourable environment for larger flow of funds from abroad," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions