Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Budget Extravaganza »
Open DEMAT Account in 24 hrs
 All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024
 Budget 2024: Why there is an urgent need to hike Section 80C deduction ceiling for income tax benefits
 Budget 2024: Long term capital gains tax and the holding period for different assets explained
 No increase likely in income tax rebate in interim budget: FinMin official
 Income tax expectations for Budget 2024: Focus on medical insurance and capital gains tax
 Whole world looking at India s budget with hope
 Pre-budget expectations for salaried individuals on tax relief Budget 2023
 Centre expected to introduce new income tax slabs in Budget 2023: Report
 Budget 2023: Pre-budget expectations for salaried individuals on tax relief
  Will non-extension of tax benefits for affordable housing impact sales Budget 2022
 Budget 2022 allows 2 more years to file ITR; Know the whopping cost of delay in filing

Inflation may eat into growth: FM
March, 17th 2010

Finance Minister Pranab Mukherjee on Tuesday expressed hope that the economy would soon return to a high growth trajectory , but cautioned that high inflation and heavy borrowings posed significant challenges. We shall have to move towards the betterment, towards the development and 9% to 10% growth is achievable. It is not a pipe dream, he said while winding up the discussion on the General Budget in the Rajya Sabha.

For 2010-11 , the government has pegged economic growth at 8.5% of the GDP and has said that 10% growth may be possible in the near future. But the minister warned that high inflation could eat into the benefits of growth.

Though the government has taken a number of steps to cool prices, he said that inflation could touch 10% next month because of its low base. I will not be surprised if it (inflation) reaches double digit in March, he said, adding that the impact of low base may remain for few more months, till May or June this year.

The wholesale price index based inflation has already touched 9.89% in February. Inflation numbers for March will be announced in mid-April .

The Centre has taken a number of steps to help the vulnerable sections of society, Mr Mukherjee said, adding that the Prime Minister would soon be meeting chief ministers to take stock of the price situation.

Meanwhile, the finance minister also stressed that the government needs to curb its expenditure as well as borrowing targets. Our fiscal credibility will otherwise be seriously challenged, if we indulge in financial profligacy. It is not possible, he said. We had to borrow over Rs 4,00,000 crore in the current fiscal... Living on unlimited borrowing is not possible, Mr Mukherjee said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting