New Delhi: The government on Tuesday said it is
looking at steps to cut subsidy on fertiliser and oil sale
with an aim to cutting non-Plan expenditure and contain fiscal
deficit.
Addressing the economic editors' conference, Finance
Minister Pranab Mukherjee said that the fiscal deficit would
be rolled back to 5.5 per cent in the next financial year from
6.8 per cent in 2009-10. However, he said stimulus packages
given to industry last year would continue.
He said a few more PSUs have been identified for
disinvestment after the overwhelming response to NHPC and Oil
India IPOs. Market capitalisation of both these companies
increased significantly after the public offer.
Bureau Report
First Published: Tuesday, November 03, 2009, 21:20