Budget to have "very positive" impact on economy: Montek
Quotes
 

 

HomeNewsBudget ImpactExclusiveTaxRail Budget Celeb Speak Eco Survey
 

Budget to have "very positive" impact on economy: Montek

Last Updated: Thursday, February 28, 2013, 21:15
 
 Comment 0
 
New Delhi: Appreciative of the effort of the Finance Minister P Chidambaram to contain fiscal deficit to 5.2 percent, Planning Commission o Thursday said initiatives taken in the Budget will have "very positive" effects on economy.

"On the whole, the budget touches and deals with the critical issues of the macro imbalance...It holds out a lot of other possible initiatives which over time could have very positive effects on the economy," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

In an interview to a television channel, Ahluwalia said FM has done a fairly responsible approach on the expenditure front and there is a lot of stability on the taxation front.

"...The central message that the budget speech gave is that we must now gear up to get the growth rate back," he said.

As far as the increase in planned spending is concerned, compared with the expenditure that ministries were actually able to do in the current year, the increase provided is very substantial.

"I am reasonably certain that this will be achieved and it was a simple reason what the Finance Minister has actually emphasised in his bilateral discussions and we have been also emphasising," he said.

The reason different ministries do not manage to spend is not because they are not getting forest clearances and so, it is just that they do not get their act together.

PTI

First Published: Thursday, February 28, 2013, 18:38

Comments


Post your Comments

Name
Place :
Email :  
Comments :  
 
Other Stories
MSME Sector

P Chidambaram proposed continuing non-tax benefits to these units for three years.

Full Article »

IT-BPO Sector

Clarity on tax issues related to R&D centres in IT soon.

Full Article »

Infrastructure

Big push to infra with Rs 50k cr tax-free bonds, two new ports.

Full Article »

Real Estate Sector

FM raised tax deduction limit by Rs 1 lakh for the first time home buyers.

Full Article »

Auto Sector

Excise duty on SUV will be raised to 30 percent from 27 percent.

Full Article »

More »

Latest Videos
Budget 2013: Tax slab remain unchanged Budget 2013: PM commends Chidambaram's budget Union Budget 2013: Chidambaram's Budget speech
Budget 2013: Tax slab remain unchanged Budget 2013: PM commends Chidambaram's budget Union Budget 2013: Chidambaram's Budget speech
rail budget
Rail Minister announced no hike in passenger fares.
know your fm
P Chidambaram- Man of all seasons.
Opinion Poll
How would you see Budget 2013 as?
Pragmatic
Populist
Non-event
 
 
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved