Hope concerns highlighted in Economic Survey are addressed
by FM in Budget: ASSOCHAM
09/07/2014 16:45
The candid admission of the fiscal situation of the central government being in “worse situation than it appears” in the Economic Survey which underscores the need for the FRBM Act with teeth is laudable, but the key is held by the intent and resoluteness of the Government to really walk the talk, said D S Rawat, Secretary General ASSOCHAM. He said once again the problems facing the economy have been well reiterated by the Economic Survey. “We hope that some of the concerns and priorities highlighted by the Survey like controlling fiscal deficit, better subsidy targeting and focus on infrastructure and manufacturing are addressed right away in the Budget to be presented by Finance Minister, Arun Jaitley tomorrow”. Rawat said the issues like exemptions in direct taxes will be largely addressed by the roll out of the Goods and Services Tax which will also integrate the entire but fragmented Indian economy into one solid entity. The ASSOCHAM Secretary General expressed satisfaction that with investment sentiment returning at least in the financial markets, the GDP projections for 2014-15 in the survey are at least 100 basis points above the level of 4.6 per cent growth achieved in the previous fiscal. As for inflation, the Survey rightly recognizes the structural problems and suggests solutions like creating a national market for food.
09/07/2014 16:45
The candid admission of the fiscal situation of the central government being in “worse situation than it appears” in the Economic Survey which underscores the need for the FRBM Act with teeth is laudable, but the key is held by the intent and resoluteness of the Government to really walk the talk, said D S Rawat, Secretary General ASSOCHAM. He said once again the problems facing the economy have been well reiterated by the Economic Survey. “We hope that some of the concerns and priorities highlighted by the Survey like controlling fiscal deficit, better subsidy targeting and focus on infrastructure and manufacturing are addressed right away in the Budget to be presented by Finance Minister, Arun Jaitley tomorrow”. Rawat said the issues like exemptions in direct taxes will be largely addressed by the roll out of the Goods and Services Tax which will also integrate the entire but fragmented Indian economy into one solid entity. The ASSOCHAM Secretary General expressed satisfaction that with investment sentiment returning at least in the financial markets, the GDP projections for 2014-15 in the survey are at least 100 basis points above the level of 4.6 per cent growth achieved in the previous fiscal. As for inflation, the Survey rightly recognizes the structural problems and suggests solutions like creating a national market for food.
